Leapnet, Inc. (NASDAQ: LEAP) and SPRI, Ltd., a company controlled by Rob Figliulo and Dave Figliulo, announced today that SPRI Acquisition Corp.’s cash tender offer to purchase shares of Leapnet’s common stock for $1.85 per share in cash had expired at 12:00 Midnight, E.S.T., on Tuesday, February 5, 2002. Pursuant to the Agreement and Plan of Merger between Leapnet and SPRI, SPRI Acquisition Corp. will merge with and into Leapnet, and Leapnet will become a wholly owned subsidiary of SPRI in a public-to-private transaction. The completion of the merger is expected to occur on or before Friday, February 8, 2002.

Duff & Phelps, LLC served as the exclusive financial advisor to SPRI, Ltd. and Rob Figliulo and Dave Figliulo.

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.