iWeb obtains additional financing facilities for the expansion of its second data centre

    MONTREAL, Aug. 23 /CNW/ - iWeb Group Inc. (TSX-V: IWB) ("the Company" or
"iWeb"), a worldwide internet infrastructure provider announced today that it
has obtained additional financing facilities that will be used to acquire
equipment for the expansion of its second data centre.
    As part of Phase 3 of the set-up of its data centre in St-Léonard, the
Company has accepted two offers of financing in the form of lease obligations
for a total amount of $954,000. The first loan, of $646,000, repayable over a
period of 48 months, will bear interest at a variable rate based on the rates
for 30-day banker's acceptances plus 3.97%. The second loan, of $308,000,
repayable over a period of 60 months, will bear interest at a fixed rate of
    "The rapid growth of the digital age and the Internet are driving the
strong increase in demand for hosting and data management solutions. For many
years now, demand for our services has been rising constantly, and so we are
expanding our second data centre in St-Léonard in order to increase our
capacity. Currently, this data center's utilization rate exceeds 70%."
commented Mr. Marc Guindon, iWeb's Chief Financial Officer. "We have to keep
investing in our infrastructures in order to ensure reliability and
redundancy. These characteristics are essential to our growth and enable us to
provide a value-added service, free of interruptions."

    About iWeb Group

    Founded in 1996, iWeb offers a full line of advanced IP hosting services
either through shared hosting, dedicated servers or colocation in its own data
centers featuring 30,000 square feet of floor space and the latest
technological equipment. iWeb provides services in English, French and Spanish
to clients in more than 140 countries. For more information, please visit
www.sedar.com or the Company's website at http://iWeb8.com.

    Caution concerning forward-looking statements

    This news release contains certain forward-looking statements. These
statements relate to future events or iWeb's future economic performance and
reflect the current assumptions and expectations of management. Certain
unknown factors may affect the events, economic performance and results of
operations. iWeb undertakes no obligation, and does not intend to, update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under applicable law.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    %SEDAR: 00018802EF

For further information:

For further information: Marc Guindon, iWeb Group Inc., Chief Financial
Officer, (514) 286-4242 ext. 121, mg@iweb.ca; Danielle Ste-Marie, The Equicom
Group Inc., (514) 844-6064, dste-marie@equicomgroup.com

Organization Profile

iWeb Group Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890