Tugboat International, Inc. Changes Name and Symbol Trading RENO, NV, March 25 /PRNewswire-FirstCall/ -- Tugboat International, Inc. (OTCBB: TUGB - News) is pleased to announce that on March 25, 2004 it has officially changed its corporate name and trading symbol. The new name of the Company is MidNet, Inc., trading under the symbol MIDX. Management has effected this change to better reflect the nature of its business. About MidNet Over the past three years, the founders of MidNet have created and developed a proprietary enabling technology known as "The Middle Network", which allows its end user customers to communicate digitally in a secure, neutral, reliable and cost effective environment. The Middle Network acts as the 'middle layer' between telecommunications infrastructure companies (Telco's) and Application Service Providers (ASP's) for the benefit of end user customers. The Middle Network is neutral in all respects, and, by virtue of its immense capacity, provides a complementary and effective digital alternative to the unsecured and congested Internet (fraught with viruses, worms and hackers), parcel couriers and expensive limited private networks. The Company anticipates that users will accept The Middle Network as a critical enhancement to their workflow environments furthering the sustainability and future growth of their businesses. Forward looking Statements The statements made in this press release are forward-looking and are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include, but are not limited to, the ability of MidNet or the company to execute effectively its business plan, changes in the market for MidNet's proposed network services, changes in stock and business market activity, realization of anticipated customers, seasonality, the development of new products and services, the enhancement of existing products and services, competitive pressures (including price competition), systems failures, economic and political conditions, changes in customer behavior and the introduction of competing products having technological and /or other advantages. Any forward-looking statements are made pursuant to the "safe harbor" provided by the Private Securities Litigation Reform Act of 1995, and as such, speaks only as of the date made. Statements made in this document that are not purely historical are forward-looking statements, including any statements asto beliefs, plans, expectations, or intentions regarding the future. The company assumes no obligation to update information concerning its expectations. DATASOURCE: Tugboat International, Inc. CONTACT: MidNet at 1.877.609.6188

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