PIMCO Multi-Sector Income Fund T.PIX

Good News

[Vangelis]

Some Good News. Let's see the results! Vangelis Peer 1 Network Corp Quick Quote: V.PIX (no quote) Peer 1 Network Adds 60 New Clients in 60 Days-Surpasses Major Milestone 8/27/02 Majority of new signings from Web-centric companies in need of very reliable, fast bandwidth VANCOUVER, BRITISH COLUMBIA, Aug 27, 2002 (CCNMatthews via COMTEX) -- Peer 1 Network Enterprises Inc. (TSX-V: PIX), a leading North American provider of high performance Internet bandwidth and server co-location facilities worldwide, today announced it has added over 60 new clients in 60 days to its customer base and has exceeded another internal milestone set out for the company earlier this year. Peer 1 focuses on web-centric companies with mission critical applications. They range in size from small-medium to large enterprise type companies. "A typical customer will gradually ramp up their bandwidth usage over a 90 day period," said Jim Taylor, Chief Financial Officer. "The incremental revenue growth by existing clients is one key to our success and by adding over 60 clients this past summer, we expect to see significant bandwidth revenue growth this winter" This combination of increased bandwidth usage of existing clients and new co-location clients has seen Peer 1's revenue grow by an average of 10% each month for the past two years. Despite the difficulties the technology sector has suffered over the past year, business is growing. "Web-centric companies are looking for quality bandwidth and co-location services," said Geoff Hampson, president and CEO. "Peer 1's focus on providing the best products in these two areas has led to its success in meeting its sales milestones. Many of Peer 1's customers are managed service providers outsourcing co-location and bandwidth to Peer 1". As a result of these sales successes, Peer 1 will add sales people in each target market and plans to expand the data centre in Vancouver. Toronto and Montreal were completed recently and at current rates of growth will need to be expanded in 2003. About Peer 1 Network Peer 1 Network provides high performance Internet bandwidth and server co-location facilities to companies across North America. Building on a redundant, 100% Cisco powered internal network, Peer 1 guarantees 100% uptime Internet access for companies with mission-critical applications. Since its inception in 1999, Peer 1 Network has established local offices and co-location facilities in Vancouver, Toronto, Montreal and New York, with additional co-location facilities in Seattle. The headquarters are in Vancouver, British Columbia. The company trades on the TSX Venture Exchange under the symbol PIX. More information is available at https://www.peer1.net/. The corporate information contained in this release contains forward-looking statements regarding future events and the future performance of Peer 1 Network that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by Peer 1 Network at the time of preparation, may prove to be incorrect. The actual results achieved will vary from the information provided herein and the variations may be material. Consequently, there is no representation by Peer 1 that actual results achieved will be the same in whole or in part as those forecast. Peer 1 Network Enterprises Inc. Company Contact: Deb Bussey Corporate Communications Manager [phone] Email: [e-mail] Website: www.peer1.net or Peer 1 Network Enterprises Inc. Media Contact: Leslie Whitelaw G2M for Peer 1 Network [phone] Email: [e-mail]