August 31, 2009

Celerity Partners Sells Peer 1 Shares to Clairvest Partners

VANCOUVER, BC – August 31, 2009 – PEER 1 Network Enterprises, Inc. (TSX:PIX), the global business hosting provider, today announced changes to the board of directors in connection with Clairvest completing the purchase of 20,538,470 shares of PEER 1 from Celerity Partners on Friday, August 28th, 2009. Mark Benham of Celerity Partners has resigned from the board of directors. Ken Rotman and Mitch Green have been appointed to the board as representatives of Clairvest. The appointment of Messrs. Rotman and Green is pursuant to an agreement between Clairvest and PEER 1′s other major shareholders, the particulars of which are described in the Early Warning Report filed on SEDAR on August 26, 2009.

About PEER 1

PEER 1 believes in the limitless opportunity of the Internet, and the business growth potential it provides for its more than 10,000 customers. As a global online IT hosting provider, PEER 1 offers a reliable high performance Internet network supporting scalable Managed Hosting, Dedicated Hosting through the ServerBeach brand, and Colocation solutions. Backed by its 100 percent uptime guarantee and 24x7x365 FirstCall Support(TM), PEER 1 ensures customers’ online presence is always fast, always available. Since 1999, PEER 1 has grown to include 16 state-of-the-art data centers and points-of-presence throughout North America and Europe. The company’s headquarters are in Vancouver, Canada, with European operations headquartered in Southampton, UK. PEER 1 shares are traded on the TSX under the symbol PIX. For more information visit: www.peer1.com or www.peer1hosting.co.uk.

For further information: For investor enquiries please contact Thomas McMillan, Equicom Group, (403) 536-5903, tmcmillan@equicomgroup.com; For media enquiries please contact Marcela Peake, PEER 1, (604) 909-6428, mpeake@peer1.com