Ascend Communications, Inc., the fastest growing company on NASDAQ last year, with corporate headquarters in Alameda, California, manufactures, markets and supports a broad range of high-speed network access products that enable corporations to construct and manage digital wide area networks for videoconferencing, remote LAN access, internet access and multimedia voice, video and data communications.

Mike Owen, Regional Director for Ascend said, "The move to the New York Information Technology Center affirms Ascend's commitment to the New York market and especially the corporate market." Auspex Systems, Inc. is a leading provider of high-performance "network" data servers that are optimized to provide file and communications service to users of workstations, PC's and other computer systems linked to an enterprise network via LANs, routers and intelligent hubs. Amusitronix is a cutting edge production company specializing in interactive media solutions. Enterprise Engineering, Inc. was founded to provide information technology consulting and education services to Fortune 500 and other companies.

The fifteen new tenants, including new media software producers, Internet access providers, intellectual property attorneys and a trade association, have signed leases ranging from 908 square feet to 13,319 square feet for a total of 44,828 square feet. Seventeen leases are currently in negotiation representing an additional 67,077 square feet and 24,000 square feet are reserved for university uses for a grand total of 135,905 square feet in signed leases and negotiated space.

"These leases demonstrate the continuing excitement that lower Manhattan is generating and re-affirms that New York is the media capital of the world. We have just returned from a multimedia trade show in France where we made a special presentation about the New York Information Technology Center and received a tremendous response from the international business community. High tech companies are eager to come to New York," said William C. Rudin.

The NYITC's tenants are:

N2K, an entertainment new media company specializing in the creation of music sites for commercial on-line networks has leased 13,319 square feet;

Tangent International Inc., specializing in systems integration, and development and deployment of applications, has leased 6,606 square feet;

Enterprise Engineering, Inc. has leased 5,147 square feet;

Plaid Brothers Software, Inc., a California-based company regarded as the leading provider of contract and portfolio management software, has leased 2,679 square feet for their new regional offices;

Virtual Creations has leased 2,443 square feet;

Marketing Technologies, Inc., software consultants, has leased 2,123 square feet;

The New York New Media Association, a not-for-profit organized to galvanize the new media industry in the New York area has leased 1,659 square feet;

Vyne Communications has leased 1,559 square feet;

Keny Global Inc. has leased 1,529 square feet;

Goldberg, Gonzalez & Kaplan has leased 1,351 square feet;

Indigo Software Works, Inc. has leased 946 square feet;

Amusitronix has leased 1,071 square feet;

Ascend Communications, Inc. has leased 2,023 square feet;

Auspex Systems, Inc. has leased 1,465 square feet and

InterCom On-line, an Internet provider has leased 908 square feet.

The New York Information Technology Center (NYITC) is the first project to be developed under the Lower Manhattan Plan. The building offers unparalleled infrastructure and technical support to new media businesses. Such amenities as single and multimode fiber optic service, maximum bandwidth, high speed voice, video and data transmission and advanced telecom and data security are a few of the turnkey state-of-the art technological services offered.

The NYITC is co-sponsored by the Rudin family, the City of New York, the New York City Partnership, Alliance for Downtown New York, Empire State Development Corporation, NYC Economic Development Corporation, NYNEX, IBM, Con Edison, Columbia University, KPMG Peat Marwick, The New York Academy of Sciences, New York New Media Association and BMCC (CUNY).