SIPISIT (303CONFERENCING) AND CAERUS MERGE TO CREATE NEWLY FORMED SUBSIDIARY, VOLO COMMUNICATIONS, TO DELIVER ADVANCED SERVICES

Solution to accelerate service offering and deployment of conferencing services.

Longmont, CO and Boston, MA – May 23, 2002 – Volo Communications – today announced it has merged 303Conferencing into Caerus, Inc, creating a newly formed subsidiary called Volo Communications, Inc.

“303Conferencing has been able to move quickly to begin offering carrier-class voice conferencing services in the market,” said Shawn Lewis, CEO and president of Caerus, Inc. “Their conferencing technology and network architecture combined with our technology will allow us to quickly start offering conferencing services while at the same time enabling our suite of advanced services to customers.”

The solution will help Volo Communications to increase average revenue per user (ARPU) by driving additional subscriber minutes, and reduce subscriber churn by offering a new suite of services that improves the efficiency and effectiveness of group communications. Additionally, it will empower the capability to provide customers with various ways to conveniently initiate and access multi-party conference calls on the fly using a variety of end points on the wireline, wireless and IP networks.

“Volo Communications brings the true vision of the nextgen network architecture that will simplify the provisioning and scaling of voice services,” said Robert Hernandez, president of 303Conferencing, “Volo’s technology will help us penetrate the market and quickly capture market share.”

Both Shawn Lewis and Robert Hernandez, are veterans at changing the way telecommunications work. “Three years ago, we changed the way people look at and use the telephone network today. By creating, certifying the world’s first “softswitch” and by selling XCOM Technologies, Inc by merger to Level (3) Communications, Inc, a whole new era of convergence began”, said Shawn Lewis.

“Working together again, we now have the opportunity to expand our original vision of converging the Internet and telephony infrastructures with an open architecture framework to easily provision and deliver a suite of advanced services,“ added Robert Hernandez.

About Volo Communications, Inc.

Volo Communications (http://www.volocommunications.com) is a wholly-owned subsidiary of Caerus, Inc. dedicated to the proliferation of advanced services including conferencing, presence, web-colloraboration, voice-activated and long-distance services. The company brings together a suite of services to make them simple, convenient, and more cost effective to use. The company works with domestic, international, and next-generation carriers to integrate high-quality voice, video, and data into real-time communications and applications, such as web conferencing and other mission-critical business and wireless applications. In addition, Volo’s services are engineered for performance and flexibility, enabling customers to maintain a competitive edge with differentiating features and functionality.

Volo makes it easier for customers to enjoy the benefits of multiple services by creating a single point to operate and expand voice collaboration solutions to multiple endpoint devices. For more information about Volo Communications, Inc, visit www.volocommunications.com or call 866-711-2663.

303Conferencing, Inc.

303Conferencing, Inc. is a conferencing services provider dedicated to the proliferation of conferencing by delivering a suite of premium, value-add automated services that make rich media conferencing spontaneous and as low cost to use as today's telephone calls. 303Conferencing was able to quickly build the required network and customer support infrastructure required to deliver the next-generation of conferencing services.

Forward Looking Statement
Some of the statements made by Caerus in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Caerus believes that its primary risk factors include, but are not limited to: changes in the overall economy relating to, among other things, development of effective internal processes and systems; the ability to attract and retain high quality employees; technology; the number and size of competitors in its markets; law and regulatory policy; and the mix of products and services offered in the company's target markets