(July 9, 2002) College Station, Texas -- NetNearU, an industry leader in the emerging wireless and wired public Internet access market and developer of proprietary management software, announced today the successful closing of a private placement of Series B Preferred Stock led by Duchossois TECnology Partners, LLC. The $3.5 million of proceeds raised to date in this financing brings the total amount of capital raised by NetNearU over the past three years to approximately $18.4 million. Duchossois was joined in the financing by BlueStar Ventures, Leo Capital Holdings, and previous individual investors including senior management personnel of the Company.

"This capital will help us significantly bolster our sales and marketing efforts to capitalize on rapidly emerging Wi-Fi market opportunities," said Larry James, chairman and CEO of NetNearU. "We are very pleased to have the continued support of this group of partners. Given the state of the private equity market, their participation demonstrates further confidence that we are leaders in the wireless and wired public Internet space."

The funding will be used to expand sales and marketing activities and continue the development of best-in-class public access software solutions. The sales and marketing activities include expanding direct selling resources, increasing advertising expenditures, and focusing on large opportunities in vertical markets.

Daniel Phelps, vice president at Duchossois TECnology Partners, states, "This is an exciting time at NetNearU. The Company provides the most cost-effective infrastructure solution for deploying public wireless networks using the 802.11b protocol, as well as 802.11a, 802.11g and other WLAN standards. The low cost of deployment and robust administration system meets the needs of customers ranging from entrepreneurial operators to multi-national wireless carriers. The wireless market is exploding, and we remain confident in NetNearU's ability to meet the needs of network operators."

NetNearU's roster of blue chip clients includes: TCG Public Communications Inc, a wholly owned subsidiary of AT&T Corporation; Verizon Communications Inc.; Federated Systems Group Inc., a subsidiary of Federated Department Stores, Inc.; Sprint Pay Phone Services Corporation; and British Petroleum Oil UK Limited.

About NetNearU

NetNearU Corp. provides comprehensive point-of-access management solutions including central administration systems and client software for distributed devices. The Company's software solutions manage networks of broadband wireless access points utilizing the 802.11 standard, as well as Internet-based kiosks and web payphones used to provide public Internet access, mobile professional data services, e-commerce applications and customer service functions.

NetNearU's proprietary software suite includes solutions for both wireless and wired networks. The Company's TRACKOS™ product provides for centralized, near real-time remote monitoring, management and maintenance of any number of Internet-based terminals and wireless access points located anywhere in the world. TRACKOS is a scalable and flexible platform that collects, stores and reports data for analysis of point-of-access usage and operability, as well as specific business activities and application effectiveness. The Company's ADTRACKOS™ product provides for interactive content to be remotely uploaded and sent to designated devices. NetNearU offers technical support, hardware monitoring, maintenance dispatching and credit card processing services to its licensees, as well as a full range of professional services to integrate its software products with customer applications. The Company is headquartered in College Station, Texas. More information about NetNearU may be found at www.nnu.com.

About Duchossois TECnology Partners, LLC

Headquartered near Chicago, Duchossois TECnology Partners, LLC is a $100 million venture capital fund focused on early stage technology companies in the areas of software, wireless, and networking equipment. Representative portfolio companies include Brivo, Clarity, InfoBlox, Intellon, Interlink Networks, Rubicon Genomics and SmartSignal.

About BlueStar Ventures, L.P.

BlueStar Ventures, L.P. (http://www.bluestarventures.com) is a Chicago-based private equity investment fund focusing its capital, time and other resources on early stage investments in technology, Internet and telecommunications companies. BlueStar's portfolio includes Neogration, nii communications, SurePayroll and YoMobile.

About Leo Capital Holdings, LLC

Leo Capital Holdings, LLC is a Chicago-based private equity company focused on early stage investments in wireless, telecommunications, semiconductors and the Internet. Portfolio companies include 422 Inc., Epiworks, Go2Call, RFWaves and YoMobile