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College Station, TX, August 7, 2007 - NetNearU (NNU) today announced that it successfully completed a Statement on Auditing Standards No. 70 (SAS 70) Type II audit examination. SAS No. 70, Service Organizations, is a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA) that defines the professional standards to be used by an auditor to assess the internal controls of a service organization and issue an audit report. An auditor's examination performed in accordance with SAS No. 70 is widely recognized because it represents that a service organization has been through a rigorous audit of its control objectives and control procedures. NNU believes its SAS 70 certification demonstrates that, for the period audited, adequate operational controls, procedures and safeguards are in place and effective throughout the organization. In connection with their audit, independent auditors reviewed and tested controls and policies important to matters of corporate governance, contract compliance, payment authorization processes, communications, human resources and employment practices, physical and logical access, network security, recovery and back-up procedures, organizational effectiveness and customer service. Although this examination is not required for privately held companies, NetNearU engaged independent auditors to conduct the audit for the purpose of providing assurance to its customers, suppliers, stockholders and creditors that their interests are well protected and among the Company's highest priorities. The SAS 70 audit is part of NNU's commitment to employ industry leading practices and maintain high standards of reliability. NNU has also received unqualified audit reports from its independent public accountants each year since 1999. NetNearU also continues to maintain Payment Card Industry (PCI) compliance. The PCI Data Security Standard is designed to protect cardholder data by applying stringent security standards on members, merchants and service providers. NNU's president and chief operating officer, Cody Catalena, said, "We believe NetNearU is one of few, if any, companies in our industry that has obtained the SAS 70 certification. The successful result of our SAS 70 audit provides additional assurance to our customers and other stakeholders that our internal processes and operating control systems perform effectively. As a collector of credit card proceeds on behalf of our customers, we want our customers to have complete confidence in our operational controls. With the completion of the SAS 70 audit, we believe NetNearU has raised the standard of performance for the industry."
About NetNearU, Corp.
Using TRACKOS, network operators can reduce their expenditures on capital purchases, software integration and development. NetNearU's solution improves the speed to market for public access networks and provides for scalable, reliable and manageable network deployments. NetNearU also provides 24/7 branded end-user call center services, making NetNearU's solution and services a complete offering for public Internet access network operators. www.nnu.com.
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