|
Total Network Solutions Receives $10 Million From Morgan Stanley Venture Partners Internetworking Services Company to Expand Marketing Efforts and Add Network Specialists for Blue Chip Clients New York, N.Y. --September 14, 1998-- Total Network Solutions, Inc. (TNS), a provider of specialized network design, engineering, implementation and support services for leading organizations including Chase Manhattan Bank, City of New York, Credit Suisse First Boston, Johnson & Johnson, Met Life, Morgan Stanley Dean Witter, PaineWebber and Salomon Smith Barney, announced today that Morgan Stanley Venture Partners has committed $10 million to help grow the company. "We are very impressed by what TNS has accomplished to date --- specifically their ability to attract first class network engineers, attain extremely high levels of customer satisfaction and build strong relationships with key partners" said Guy de Chazal, managing director of Morgan Stanley Venture Partners. "We believe putting this financing on top of such a promising foundation should allow TNS to really take advantage of the explosive growth in market demand for their high-end services." "Total Network Solutions is a critical element in the success of Morgan Stanley Dean Witter's IT organization," said Merritt Lutz, senior advisor, Morgan Stanley Dean Witter IT. "TNS' relationship with Morgan Stanley Venture Partners grew out of its successful internetworking projects on behalf of Morgan Stanley Dean Witter. We believe TNS is a model fast growth company. We're delighted to be a partner in their future." "Morgan Stanley Venture Partners interviewed our clients as well as our executives and conducted extensive competitive research before they invested in our company," said Rami Musallam, TNS' president. "The results speak for themselves. We're excited that one of the premier venture capital firms in the information technology industry has recognized our track record and potential." Musallam added that the investment would be used to fuel the fast-paced growth necessary to meet the demand for TNS' internetworking services. "We will use the funds for marketing, national expansion and the development of a state-of-the-art network design center focused on emerging technologies," he said. About Morgan Stanley Venture Partners Morgan Stanley Venture Partners ("MSVP") is the venture capital affiliate of Morgan Stanley Dean Witter & Co. (NYSE: MWD). MSVP manages a group of funds that invest in later-stage high-growth companies in the information technology and healthcare industries. MSVP also sponsors and participates in growth buyouts, including working with entrepreneurs to pursue industry consolidations. About TNS Total Network Solutions is a professional services firm specializing in the design, engineering and management of multi-services internets and intranets. TNS technology services complement IT departments by providing the experience and expertise that best matches project requirements---without adding to overhead or administrative costs. TNS' internetworking engineers have gained extensive corporate experience working with high-end sophisticated networks at major financial institutions and "Fortune 1000" firms across a broad range of industries. TNS maintains formal partnership agreements designed to support customers of Cisco Systems, Inc., IBM Global Services and AT&T Solutions. For additional information contact: Total Network Solutions 545 Fifth Ave. New York, NY, 10017 Telephone: 212-557-1870 Or, visit TNS on the Web: www.tns-inc.com |