Speakeasy Founder Launches New Venture

SEATTLE—April 4, 2006—Speakeasy today announced that its Filecloud and Speed Test properties will be consolidated into a new, outside company called Ookla (www.ookla.com), which will be headed by Speakeasy founder Mike Apgar. Bruce Chatterley will continue as CEO and President of Speakeasy while Apgar leaves to lead Ookla full-time. Apgar will remain chairman of the board of Speakeasy and the company will be a 25 percent owner of Ookla; Apgar and a small number of additional investors will control the remaining private stock.

Ookla begins operation in April, 2006 and Apgar and his team will focus on further developing Filecloud, a web-based file-distribution service, and Speed Test, a broadband diagnostic application while preparing to launch additional services.

The creation of Ookla fulfills Apgar's desire to return to an entrepreneurial enterprise while remaining associated with the company he founded. "Speakeasy has reached a stage where, under Bruce's capable direction, I am confident it will continue to grow and thrive. However, I am thrilled to return full-time to the entrepreneurial do-it-yourself aspects that can cause the sleepless nights, but also the unmatchable gratification of accomplishment," says Apgar.

"Mike is at the heart of Speakeasy's history and success, and for eight years he guided the company from an Internet caf to a nationwide broadband provider," notes Chatterley, who joined the company in 2003. "I know his passion lies in building companies from the ground-up and Speakeasy is pleased to be a part of his new venture. His continued presence on the Speakeasy board will also ensure that his irreplaceable insight is not lost."

Speakeasy was founded as an Internet cafe by Apgar, his wife Gretchen, and his brother Tyler in 1994. It expanded into dial-up connectivity in 1997, DSL the following year and began solely concentrating on broadband in 2001. Today, its customer base is primarily small and medium businesses and since its introduction in 2005, Speakeasy Voice over IP services are now the company's fastest-growing segment. Speakeasy is now one of the nation's largest independent providers of voice and data communications with revenues that reached $66 million in 2005.

About Speakeasy
Speakeasy, the nation's largest independent broadband services company, is focused on meeting the needs of discerning businesses, professionals and those who depend on the Internet for higher productivity in life. Speakeasy manages its own private fiber-optic national network, ensuring fast connections, low latency, and an unparalleled degree of security protection from the public Internet. Speakeasy offers a full range of innovative services, including OneLink dedicated DSL, VoIP, online gaming services, and multiple business-grade connectivity options. Customers rave about the personalized and highly competent support they receive from Speakeasy's Seattle-based customer service team. Speakeasy's broadband services are available in most metropolitan areas within the 48 contiguous United States. Those interested in Speakeasy can visit www.speakeasy.net or call 800.556.5829.

# # #