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                                                                 EXHIBIT 99.1



                                  Press Release



FINANCIAL INTRANET ANNOUNCES COMPLETION OF ACQUISITION

Business Editors

ATLANTA -- (BUSINESS WIRE) -- Aug. 6, 2001 -- Technest Holdings, Inc., formerly
FINANCIAL INTRANET, INC. ("THNS OTCBB" hereinafter referred to as "TECHNEST
HOLDINGS, INC."), an Internet content provider, has announced the change of its
corporate name and the completion of the acquisition of all of the outstanding
capital stock of Technest.com, Inc.

The common stock of Technest Holdings, Inc. will trade under the symbol "THNS"
on the OTC bulletin board. The name change was approved by the Stockholders of
Financial Intranet, Inc. at its annual Stockholder Meeting held at its new
Corporate offices in Atlanta, GA, June 28, 2001.

At the closing of this transaction, which occurred on July 11, 2001, holders
of Technest.com, Inc. common stock received an aggregate of 33,450,000 shares
of Financial Intranet's common stock, which represents approximately 90% of
Financial Intranet's outstanding common stock in exchange for all the
outstanding shares or 100% of the common stock of Technest. This transaction
occurred under the terms of an Agreement and Plan of Reorganization dated March
21, 2001 among Financial Intranet, Inc., Technest.com, Inc. and the
stockholders of Technest.com, Inc.

Technest.com, Inc., a subsidiary of Technest Holdings, Inc., invests in
development stage companies with potential high rates of growth. These
portfolio companies develop innovative products and services with a wide range
of commercial applications. Technest Holdings, Inc., through its subsidiary,
assists in the growth of these portfolio companies and also develops strategies
for the realization of returns on its investments through a variety of methods.
Technest Holdings, Inc. also expects to enhance earnings through short-term
investing.

Michael Sheppard, President and Chief Operating Officer of Technest Holdings,
Inc., said, "We hope Technest Holdings, Inc. will move forward at an
accelerated pace now that we have completed the acquisition. As I indicated
before, I view this acquisition as giving us an unprecedented opportunity. We
are different from other companies that invest in development or early stage
companies. We expect to take full advantage of the current marketplace to make
investments that should provide value, both in the near and long term."

SAFE HARBOR STATEMENT

Statements in this press release that are not historical may be deemed
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Although THNS believes the expectations
reflected in any forward-looking statements are based on reasonable
assumptions, it can give no assurance that its expectations will be attained.
Factors that could cause actual results to differ materially from THNS's
expectations include completion of pending investments, continued availability
of funds to originate new investment, the availability and cost of capital for
future investments, competition within the industry, economic conditions and
other risks detailed from time to time in THNS's SEC reports. The financial
information with respect to the 2001 financials of Technest.com, Inc. have been
provided to Technest Holdings, Inc. by Technest.com, Inc. and have not been
audited or verified independently at this time.