IIP InterNAP Network Services

Today, Internap Network Services Corporation (AMEX: IIP), a leading provider of performance-based routing solutions over the Internet, announced that it will effect a 1-for-10 reverse split of its common stock for stockholders of record as of the close of business on July 10, 2006. The reverse split will go into effect after market close on July 10, 2006. Internap's stock will begin trading on the American Stock Exchange on a split-adjusted basis on July 11, 2006. The exercise or conversion price, as well as the number of shares that can be issued, under the company's outstanding stock options, warrants and convertible securities, will be proportionately adjusted to reflect the reverse stock split. The number of shares reserved for issuance under Internap's equity compensation plans will also be reduced proportionately. Internap stockholders approved the reverse split via an amendment to the company's articles of incorporation during the annual stockholders meeting held on June 21, 2006. Internap will not issue any fractional shares of its new common stock as a result of the reverse split. Instead, the company will pay cash for the value of the fractional shares to the holders thereof. Stockholders who hold their shares in brokerage accounts or "street name" will not be required to take any action to effect the exchange of their shares. Stockholders of record who hold share certificates will receive a letter of transmittal requesting that they surrender their old stock certificates for new stock certificates reflecting the adjusted number of shares as a result of the reverse stock split. American Stock Transfer & Trust Company will serve as Internap's transfer and exchange agent, implementing the exchange of stock certificates in connection with the reverse split. About Internap Internap is a market leader of intelligent route control solutions that bring reliability, performance and security to the Internet. The company's patented and patent-pending technologies address the inherent weaknesses of the Internet, enabling enterprises to take full advantage of the benefits of deploying business-critical applications such as e-commerce, Voice-over-IP (VoIP), video-conferencing and streaming audio/video across the Internet. Through a portfolio of high-performance IP and WAN optimization solutions, customers can bypass congestion points, overcome routing inefficiencies and optimize performance of their applications. Internap solutions are backed by an industry-leading performance guarantee that covers the Internet as opposed to just one network. These offerings include: network- and premise-based route optimization solutions, colocation, VPN, content distribution and managed security services. Internap currently serves more than 2,100 customers, including Fortune 1000 and mid-tier enterprises in the financial services, government, travel/hospitality, manufacturing, media/entertainment, technology and retail industries. The company provides services throughout North America, Europe, Asia and Australia. For more information, please visit the company website at www.internap.com. Internap, P-NAP and Performance IP are trademarks of Internap. All other trademarks and brands are the property of their respective owners.