February 17, 2010 at 08:31 AM EST
iB3 Networks Announces Dismissal of $10MM Lawsuit

iB3 Networks, Inc. (OTCBB: IBNW) and its wholly owned subsidiary iBeam Solutions are pleased to announced the Court of Common Place, Franklin County, Ohio accepted a Dismissal Entry between our wholly owned subsidiary, iBeam Solutions, LLC, (Plaintiff) and Data Center 101, LLC, (Defendant) which was approved by attorneys for Defendant on behalf of Data Center 101, LLC, Jay B. Eggspuehler, Esq. of Brandon, Boyle, Burkholder & Bringardner, Co., L.P.A.

The Mutual Settlement and Release Agreement states for and in consideration of the payment of all sums paid to date by iBeam Solutions, LLC to Data Center 101, LLC, the Data Center hereby releases and forever discharges iBeam Solutions, LLC and all related and affiliated companies fully discharging all claims and complaints against the company.

Safe Harbor Statement

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected", "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission.

Contacts:

iB3 Networks, Inc.
Michael Jacobson, President, 614-602-4788
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