Internap Network Services Corporation (NASDAQ: INAP) and VitalStream Holdings, Inc. (NASDAQ:VSTH ) has announced that each company's respective stockholders provided the approvals necessary to complete Internap's acquisition of VitalStream and that the transaction has been completed. The acquisition will allow Internap to facilitate the accelerated growth of VitalStream's global platform, which enables the delivery of rich media and includes streaming audio and video services. The addition of VitalStream's content monetization and advertising solutions also enhances Internap's portfolio of IP and data center services and meets the increasing demands of businesses looking to transform Web-based content and assets into revenue. VitalStream has notified the NASDAQ Global Select Market of the closing of the transaction and expects that no further trading in VitalStream stock will occur and that its shares will no longer be listed. Internap has appointed American Stock Transfer as exchange agent, and, as soon as practicable, will mail a letter of transmittal and instructions to all VitalStream stockholders of record. The letter of transmittal and instructions will contain information on how to surrender stock certificates representing shares of VitalStream common stock in exchange for certificates representing shares of Internap common stock. The exchange will be based upon a ratio of .5132 shares of Internap common stock issued for each share of VitalStream common stock owned, and stockholders will be paid cash in lieu of fractional shares. VitalStream's stockholders of record should wait until they receive the letter of transmittal before surrendering their stock certificates. Stockholders who hold shares through a bank or broker will not have to take any action to have their shares converted into Internap shares as such conversions will be handled by the bank or broker. The acquisition results in Internap holding a market leadership position delivering streaming media content and will facilitate the company's ability to generate organic growth via cross-selling opportunities for streaming media and on-line advertising segments to its 3000 enterprise customers. Internap now has approximately 450 employees, including a direct sales team of 135 with experience re-selling CDN and streaming media services. Internap expects to provide an update on its integration with VitalStream during its year-end and fourth quarter 2006 conference call on March 1st at 5:00 PM EST.