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Celerity Systems Confirms It Has Not Been Purchased By Aeroflex

/FROM PR NEWSWIRE BOSTON 617-482-5355/
TO BUSINESS AND TECHNOLOGY EDITORS:

Celerity Systems Confirms It Has Not Been Purchased By Aeroflex

KNOXVILLE, Tenn., Nov. 3 /PRNewswire-FirstCall/ -- Celerity Systems, Inc.
(OTC Bulletin Board: CESY), a leading provider of innovative digital video on-
demand solutions, announced today that the Company has not been purchased by
Aeroflex and has no present or past affiliation with Aeroflex or L-3
Communications Corp. The Company wants to clarify that the Celerity Systems
mentioned in two separate releases dated November 3, 2003 from Aeroflex and L-
3 Communications, respectively, refer to a different company and has no
relation to the Knoxville, Tennessee-based Celerity Systems, Inc.

About Celerity Systems, Inc.
Celerity Systems designs, develops and markets advanced digital set-top-
boxes and video servers for interactive television and high-speed Internet.
The Company's products are deployed in six countries, serving key markets such
as schools and telecommunication companies. Celerity also provides a
comprehensive package of content, including 1,300 titles available, for
entertainment and educational applications. Through strategic relationships
with leading technology companies such as Cisco, Nortel, Extreme Networks, and
Elastic Networks, Celerity also can deliver fully integrated, end-to-end
systems of the highest quality. Additional information on Company can be
found online at: http://www.celerity.com. Investors should visit:
http://www.otcfn.com/cesy.

Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: The statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks and
uncertainties including but not limited to risks associated with the
uncertainty of future financial results, additional financing requirements,
development of new products, government approval processes, the impact of
competitive products or pricing, technological changes, the effect of economic
conditions and other uncertainties detailed in the Company's filings with the
Securities and Exchange Commission.

Company Contact: Investor Relations Contact:
Robert Legnosky, President & CEO Gary Geraci
Celerity Systems, Inc. OTC Financial Network
865-539-5300 781-444-6100 ext. 629
[e-mail] [e-mail]

SOURCE Celerity Systems, Inc.

/CONTACT: Robert Legnosky, President & CEO of Celerity Systems, Inc., +1-
865-539-5300, [e-mail]; or Gary Geraci of OTC Financial
Network,[phone] ext. 629, [e-mail]/

/Web site: http://www.celerity.com/

Nov-03-2003 20:57 GMT
Symbols:
US;CESY
Source PRN PR Newswire
Categories:
NWI/CPR NWI/ITE NWR/TN MST/I/CPM MST/I/ISS MST/R/US/TN TGT/PRN