Metronet Acquires FlashPoint, Inc.

    LOXAHATCHEE, Fla., Aug. 24 Metronet Communications Company
(OTC: MCCO) announced today that its acquisition of FlashPoint, Inc., has been
completed, subject to regulatory and statutory filings required to consummate
the merger.  FlashPoint, Inc. is a development-stage technology company, which
plans to commercialize a high performance, premium spark plug.  FlashPoint's
technology is patented and has been demonstrated to increase fuel efficiency,
horsepower and torque, while reducing noxious emissions from automotive and
other internal combustion engines used throughout the world.  The Merger
Agreement will result in Metronet owning 100% of the outstanding capital stock
of FlashPoint, Inc., in exchange for 7, 000,000 shares of Metronet Common
Stock and options to purchase an additional 1,000,000 shares of Metronet
Common Stock at $1.00 per share, vesting over a three-year period.  The
selling shareholders of FlashPoint, Inc. may receive up to 4,000,000
additional shares of Metronet Common Stock, as part of the acquisition, based
upon revenue based or other performance criteria.
    As previously stated by Frank Bauer, the outgoing-president of Metronet
Communications Company, "We were attracted to FlashPoint, Inc., for two
reasons, one because of the downturn in the telecommunication sector the
Company determined that its current telecommunication strategy may not be
viable on a long term basis and secondly, because FlashPoint appears to offer
a long term technology advantage in the growing automotive after-market based
upon FlashPoint's fuel efficiency field study conducted with the Manatee
County Florida Sheriff's Department, which reported a substantial increase in
miles per gallon ("mpg").  With today's high gas prices and long-term pressure
on the world's shrinking oil supplies, we are excited about the market
potential for a premium spark plug designed to improve fuel efficiency,
increase engine performance and reduce noxious emissions."
    According to Mr. Stephen Michael, president-elect of Metronet, "Through
the acquisition, Metronet is becoming a technology company dedicated to
improving the performance of internal combustion engines used throughout the
world.  With worldwide public interest and investment in fuel efficiency,
emission reduction and global warming at an all time high, we believe that the
timing is excellent for the introduction of our high performance, premium
spark plug."

    This Press Release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.  The Company
has tried, whenever possible, to identify this forward looking statement using
words such as "anticipates," "believes," "estimates," "expects," "plans,"
"intends," "potential" and similar expressions.  These statements reflect the
Company's current beliefs and are based upon information currently available
to it.  Accordingly, such forward-looking statements involve known and unknown
risks, uncertainties and other factors which could cause the Company's actual
results, performance or achievements to differ materially from those expressed
in or implied by such statements.  The Company undertakes no obligation to
update or advise in the event of any change, addition or alteration to the
information catered in this Press Release including such forward-looking
statements.

    CONTACT:  Investors, J.A. Michie of G.M. Capital Partners,
+1-800-647-9877, or jamichie@gmcapital.com, for Metronet Communications
Company.

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