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pieNetworks remains piping hot in Australia

May 6, 2002

OSBORNE PARK, Australia -- Continued revenue growth has earned kiosk developer and operator pieNetworks Ltd. a spot on global accounting firm Deloitte's list of the 50 hottest technology companies in Australia for the second consecutive year.

The Deloitte Technology Fast 50, launched last year, charts Australia's leading tech firms based on revenue growth over the past three years. In this year's survey, pieNetworks placed ninth with a three-year revenue growth of 567 percent. Topping the list was Sydney-based online entertainment firm Chaos Group Ltd. at 5,143 percent.

pieNetworks is one of just 16 firms to make the list for two consecutive years; the company was 12th on the 2001 list, according to The West Australian. The company, which has offices throughout Australia and in the UK, had placed more than 500 kiosks in Australia through the end of last year.

Making the list is no precursor of overall success. Melbourne's The Age newspaper pointed out that the top three firms on the list were not profitable during the three-year survey period and two of them underwent corporate restructuring.