WASHINGTON -- Network Access Solutions Corp. (NASC) and affiliate NASOP
Inc. filed for Chapter 11 bankruptcy protection from creditors.

The filing, made late Tuesday in the U.S. Bankruptcy Court in Wilmington , Del., listed assets of $58.2 million and
debts of $84.9 million. Under Chapter 11, companies can continue to operate, and try to work out their financial
problems under a court's watch.

The Herndon, Va., company, provides telecommunications services and Internet access to business customers. As
of March 31 , it offered communications services in nine markets and had 24,000 lines in service.

The company went public in June 1999 at $12 a share. Its shares last changed hands at two cents each.

w1ld: suprised they lasted this long

Network Access Solutions Files For Chapter 11 Protection