EXHIBIT 99.1

                Wire One Completes $4.9 Million Private Placement

HILLSIDE, N.J. - December 17, 2002 - Wire One Technologies, Inc. [NASDAQ: WONE],
a provider of video communications solutions, today announced that it has
completed the sale of $4,888,000 of 8% convertible debentures in a private
placement transaction. The Company plans to use the net proceeds of
approximately $4.5 million for general corporate purposes, including the
continuing development and marketing of its award-winning GlowpointSM network.

The debentures, which are convertible into shares of Wire One common stock at
$2.40 per share (or approximately 2,037,000 shares), are subordinate to the
Company's credit facility with J. P. Morgan Chase Bank. The debentures mature in
February 2004, or 90 days following the expiration (in May 2005) or earlier
termination of the credit facility, whichever is later. The Company has the
option of paying interest on the debentures in the form of either cash or Wire
One stock. The debentures will automatically convert into common stock if Wire
One shares trade above $4.80 for 10 consecutive trading days. If the Company
elects to prepay the debentures prior to maturity, the holders may instead elect
to convert the debentures into common stock, in which event the holders will
receive, in addition to the shares issuable upon the conversion, the remaining
interest payable under the debentures through maturity, payable in the form of
common stock based upon the conversion price.

In connection with their purchase of the debentures, the investors received
five-year warrants to purchase up to approximately 815,000 shares of Wire One
common stock at an exercise price of $3.25 per share, subject to customary
anti-dilution adjustments. The Company plans to register, under Form S-3, all of
the shares issuable upon any conversion of the debentures and any exercise of
the warrants, as well as any shares paid to the debenture holders as interest on
the debentures.

Wire One Technologies, Inc.

Wire One Technologies, Inc. is a leading full-service provider of a complete
range of video communications solutions, including GlowpointSM, the first
IP-based subscriber network dedicated to video communications. The company,
which is the first video communications provider to receive Frost & Sullivan's
Market Engineering Service Innovation Award, is a leading integrator for major
video communications manufacturers, including Cisco Systems, Polycom, Inc.,
RADVISION, Sony, VCON and VTEL. Wire One's Glowpoint network utilizes an IP
backbone and achieves last mile connectivity through a variety of solutions,
including DSL, T1 and Optical Ethernet. Wire One's installed customer base
includes more than 3,000 companies with approximately 20,000 videoconferencing
systems in the commercial, federal and state government, medical and education
marketplaces nationwide and across the globe.

The statements contained herein, other than historical information, are or may
be deemed to be forward-looking statements and involve factors, risks and
uncertainties that may cause actual results in future periods to differ
materially from such statements. These factors, risks and uncertainties include
market acceptance and availability of new products and services; the
nonexclusive and terminable-at-will nature of reseller agreements with
manufacturers; rapid technological change affecting products and services; the
impact of competitive products and


services, as well as competition from other resellers and service providers;
possible delays in the shipment of new products; and the availability of
sufficient financial resources to enable the Company to expand its operations
and other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission.

WIRE ONE, GLOWPOINT and SCHEDULEPOINT are service marks of Wire One
Technologies, Inc. All other marks are trademarks or service marks of their
respective owners.

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                                    Contacts:

                           Wire One Technologies, Inc.
                                  Chris Zigmont
                                       CFO
                             (603) 898-0800 ext. 218
                          investorrelations@wireone.com

                        Stewart Lewack, Robert Rinderman
                         Jaffoni & Collins Incorporated
                                 (212) 835-8500
                                  wone@jcir.com