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SolNet Announces New Management Structure

Wellington, New Zealand - May 26, 2001

SolNet Holdings has announced key changes to its senior management team which reflect recent changes in the company's ownership structure.

Murray McNae, formerly managing director, takes up the role of executive director and chairman, focusing on the company's expansion into Australia and other potential new ventures. He will also act as chief executive of SolNet's subsidiary, Open Cloud Ltd.

Mark Botherway, currently general manager of iSolNet, becomes SolNet's new managing director. Botherway has been with the company since its inception. He has a strong background in the systems arena and in recent years has been the driving force behind SolNet's successful transition into a services and expertise-led business. As he does in his current role, Botherway will still have reporting to him directly the services delivery, development and iPlanet/e-business components of the business.

John Hanna, currently general manager of SolNet Systems, takes on the role of director, sales and marketing. He will be responsible for all sales and pre-sales activity across the company's full range of solutions from Sun Microsystems, iPlanet E-Commerce Solutions and complementary providers such as Actuate, along with development and implementation services provided by SolNet's strongly growing services arm.

Peter Weaver, currently chief financial officer, becomes director, finance and operations and he will also focus on business development as the company explores new ventures.

"These changes are very positive ones for SolNet," says McNae. "They reflect our growing strength and maturity in the market, and provide continuity for our customers as well as more career opportunities for our staff."

The changes are effective from June 1, 2001.

ABOUT SOLNET

SolNet is a 100% New Zealand-owned company that has been in operation since 1993. SolNet is the Independent Sales Organisation for Sun Microsystems in New Zealand, and the exclusive master distributor for iPlanet E-Commerce Solutions from the Sun|Netscape Alliance.

By combining the strengths of Sun and iPlanet with professional services and development expertise - including the only Authorised Java Centre in New Zealand - SolNet offers customers an incomparable array of business solutions that enable their organisations to thrive in the 21st century Net economy.

SolNet has offices in Wellington, Auckland, Sydney and Melbourne.

For more information, visit SolNet at www.solnet.co.nz

ENDS

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