Leapnet, Inc., an Internet development and marketing communications firm, today announced that it has begun discussions with Robert Figliulo, Leapnet’s Chairman of the Board and Chief Executive Officer, and board member and Vice President of Sales, David Figliulo. These discussions involve the possible acquisition by the Figliulos of certain assets relating to Leapnet’s professional services business. Officers of Mickelberry Communications Incorporated, a holder of approximately 8.5% of the company’s common stock, also participated with the Figliulos in these discussions. Mickelberry Communications and the Figliulos are parties to a standstill agreement pursuant to which Mickelberry Communications agrees, among other things, not to directly or indirectly engage in certain transactions with respect to the company’s common stock or to take certain actions to influence the Company.

The company’s Board of Directors has appointed a special committee of independent directors to consider, evaluate and negotiate the terms of a possible transaction with the Figliulos, or any alternative transactions, and to report its recommendation to the Board of Directors. The special committee has engaged George K. Baum & Company as its financial advisor to assist the committee in this process. The Figliulos are being advised by Duff & Phelps, LLC.

Headquartered in Chicago, Leapnet, Inc. is an Internet development and marketing communications firm that creates ingenious solutions to help businesses connect with the customers vital to their success. By tapping into its significant expertise in creative, technology, and marketing, Leapnet has been able to consistently transform opportunity into value for market-leading clients such as Amadeus, American Airlines, Anheuser-Busch, Ernst & Young, Lincoln Financial Group, Microsoft, Morningstar, MSNBC.com. NEC Technologies, Northern Trust, SAM’S Club, Sears, Roebuck and Co., Unisys, and Wal-Mart.