NEWS

Q9 Networks Inc. Completes Plan of Arrangement

TORONTO – October 24, 2008 – Q9 Networks Inc. ("Q9") (TSX: Q) announced today the closing of the previously announced plan of arrangement pursuant to which an affiliate of ABRY Partners, LLC ("ABRY"), CDC Acquisition II Corp., has purchased all of the outstanding common shares (other than those owned by ABRY or its affiliates) of Q9 (the "Common Shares"), at a price of C$17.05 per common share. As a result of completing all of the steps necessary to implement the plan of arrangement, CDC Acquisition II Corp. now owns all of the issued and outstanding Common Shares.

Q9 shareholders who hold their Common Shares through a broker or other financial intermediary will receive cash payment of the purchase price for their Common Shares through the broker or other financial intermediary, following the deposit by the broker or financial intermediary of share certificates with CIBC Mellon Trust Company, the depositary for the plan of arrangement. Shareholders who hold their Common Shares in registered form will receive cash payment of the purchase price following the deposit of their Q9 share certificates with the depositary in accordance with the instructions contained in the Letter of Transmittal previously sent to registered shareholders. Any questions regarding payment of the purchase price, including any request for an additional copy of the Letter of Transmittal, should be directed to the depositary via telephone at 1-800-387-0825 begin_of_the_skype_highlighting            1-800-387-0825      end_of_the_skype_highlighting (toll free in North America) or 416-643-5500 begin_of_the_skype_highlighting            416-643-5500      end_of_the_skype_highlighting or via email at inquiries@cibcmellon.ca.

With the completion of the plan of arrangement, Q9's Common Shares will cease to be listed for trading on the Toronto Stock Exchange.

 Forward Looking Statements

This media release includes certain forward-looking statements within the meaning of applicable securities laws relating to the proposal to acquire all of the outstanding shares of Q9. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements.

Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements. Q9 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

 

About Q9 Networks

Q9 Networks is a leading Canadian provider of outsourced data centre infrastructure for organizations with mission-critical IT operations. Q9's data centres and network are backed by an industry leading SLA which guarantees 100% network and power availability. Q9 managed services, including: bandwidth, dedicated servers, firewalls, load balancing, virtual private networking (VPN) and back-up/restore, enable the rapid provisioning and scalability of client infrastructure.

 

About ABRY

Based in Boston, Massachusetts, ABRY Partners enjoys a position as one of the most experienced and successful media and communications focused private equity investment firms in North America. Since 1989, ABRY Partners has completed over $21 billion of leveraged transactions and other private equity and mezzanine investments, representing investments in more than 500 media and communications properties. Extensive and long-standing relationships with many different stakeholders in the media, communications and finance businesses allow ABRY Partners to contribute significant value to operating partners and portfolio companies. ABRY Partners has extensive experience in data centre space through its existing U.S. data centre portfolio companies CyrusOne and Hosted Solutions.