FOR IMMEDIATE RELEASE                           Contact:  Paul H. Riss, CEO
                                                phriss@elec-corp.com
                                                914-633-6500


     eLEC Announces Signing of Definitive Purchase Agreement to Sell Assets of
                              Essex Communications


NEW ROCHELLE,  NY...September 3, 2002--- eLEC Communications Corp.  (OTCBB:ELEC)
announced today that it has entered into a definitive purchase agreement to sell
the assets of one of its wholly-owned subsidiaries,  Essex Communications,  Inc.
("Essex"),  to Essex Acquisition  Corp.  ("EAC"),  a wholly-owned  subsidiary of
BiznessOnline.com,   Inc.   (OTCBB:BIZZ).   BiznessOnline.com   is  one  of  the
Northeast's leading integrated  communications  providers,  and offers customers
co-location, e-commerce development, Web design and hosting services, high-speed
Internet access and local/long distance telecom services.

EAC will assume  certain  liabilities  of Essex and manage Essex  pursuant to an
interim  consulting and funding agreement until a closing occurs. The closing of
the  transaction  is subject to  receipt  of,  among  other  things,  applicable
shareholder and regulatory approvals and must be completed by December 31, 2002.
Additional terms of the agreement were not disclosed.

eLEC's CEO, Paul Riss stated,  "We have been working on this transaction for the
last several months. eLEC has been released from its guarantee of all Essex debt
and this transaction  allows eLEC to continue to compete as a competitive  local
exchange   carrier  (CLEC)   through  its  other   licensed   telecommunications
subsidiaries.  In  addition,  EAC will  become  a  significant  customer  of our
wholesale billing and customer care services business."

Mr. Riss added, "We will now be able to channel eLEC's remaining  resources into
the  growth  of  our  other  subsidiaries.   We  have  retained  our  core  CLEC
technologies  and  capabilities  and will  continue  to focus on the  integrated
telecommunications  business.  Going  forward,  we plan to market local and long
distance  services  primarily in New York,  where UNE-P margins are high and the
addressable market is substantial.  We expect to slowly enter other states as we
identify  opportunities  to earn  significant  profit  margins  under UNE-P.  In
addition,  we expect to build upon our new wholesale services agreement with EAC
by marketing our technologies to other communications providers."

eLEC Communications Corp. is a competitive local exchange carrier that is taking
advantage of the convergence of the current and future competitive technological
and regulatory  developments  in the  telecommunications  industry.  eLEC offers
small   businesses   and   residential    customers   an   integrated   set   of
telecommunications  products  and  services,  including  local  exchange,  local
access, domestic and international long distance telephone,  and a full suite of
features including items such as three-way calling, call waiting and voice mail.

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This  release  contains  forward-looking   statements  that  involve  risks  and
uncertainties.  eLEC's  actual  results may differ  materially  from the results
discussed  in the  forward-looking  statements.  Factors that might cause such a
difference include, among others, certain risks and uncertainties over which the
company  may  have  no  control.  For  further  discussion  of  such  risks  and
uncertainties,  which could cause actual results to differ from those  contained
in the  forward-looking  statements,  see the  discussions  contained  in eLEC's
Annual  Report  on Form  10-K  for the  year-ended  November  30,  2001  and its
Quarterly  Reports on Form 10-QSB for the quarters  ended  February 28, 2002 and
May 31, 2002 and any subsequent SEC filings.

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