Internet Marketing

Airimba Wireless Expands High-Speed Wireless Internet Service to Five New Markets, Secures Private Equity Funding

Company Introduces New CEO, Assembles Seasoned Senior Management Team, and Ignites Growth Strategy with New Investment and Market Expansion

RICHARDSON, Texas--(BUSINESS WIRE)--May 10, 2004--

Airimba Wireless(TM), a high-speed wireless Internet service provider that delivers turnkey service to multi-dwelling units (MDUs) and their residents, today announced that it has expanded operations into five new markets and has further strengthened its presence in the company's two initial markets, Clemson, S.C., and Austin, Texas, since the beginning of this year.
This five-market expansion is the first major step in the company's growth strategy after receiving an infusion of private equity capital from top-tier venture capital firms Sevin Rosen Funds (co-lead), Noro-Moseley Partners (co-lead), Harbert Management Corporation, and STARTech Ventures.

"We are pleased to co-lead Airimba Wireless' first institutional funding round and to play a key role in assembling such a high-quality management team," said Jackie Kimzey, general partner at Sevin Rosen Funds. "With our first-hand knowledge of the wireless Internet service provider (WISP) market, we immediately recognized the company's market relevant timing and the strong value proposition it delivers to both property owners and tenants."

Airimba Wireless uses proven, standards-based Wi-Fi(R) technology to provide a blanket of wireless coverage for Internet access to each venue served. The company has already contracted with over 70 locations in its served markets of Athens, Ga.; Austin, Texas; Chapel Hill/Raleigh-Durham, N.C.; Clemson, S.C.; Gainesville, Fla.; Greenville, N.C.; and Wilmington, N.C.

Also today, Airimba Wireless announced that it has named wireless industry veteran Terry Scott as president and CEO. During his more than 25 years in the wireless industry, Scott has led a variety of companies to financial and market success, and his track record of successfully managing growth companies complements Airimba's growth plans.

"The demand for wireless Internet access is growing at an impressive rate. We believe that managed high-speed wireless Internet service will become as pervasive in MDUs as telephone and cable TV service are today, and that properties who choose to offer our service will be winners now and in the long run," said Scott. "With financial backing from top-tier investors and an experienced management team, Airimba Wireless is well-positioned to execute our high-growth strategy and to become the market leader in this space."

Managed high-speed wireless Internet service in MDUs is still early in its life cycle. Airimba offers property managers, REITs and individual MDU owners, a valuable competitive differentiator and a new way to achieve higher occupancy, strong rental rates, and satisfy the needs of today's connected generation of tenants.

The company offers users easily-accessible, high-speed wireless Internet service and unsurpassed convenience. Residents simply power up their wireless computer, sign-up via an Airimba splash page, and are connected to the Internet within minutes of signing up, without the hassle and expense of extra equipment such as a cable or DSL modem and wireless router equipment.

"To date, the industry has equated fee-for-use Wi-Fi services mainly with airports, hotels and coffee shops," said Iain Gillott, president of iGillottResearch, Inc., a consultancy focused on the wireless industry. "But of course, there are many opportunities for public Wi-Fi services and many different business plans that make sense. There are significant untapped market segments for Wi-Fi such as MDUs, and Airimba is demonstrating this."

Unlike wired Internet access services, Airimba Wireless offers mobile Internet access throughout the apartment or condominium, including common areas such as clubhouses, game rooms, and poolside. In addition, Airimba subscribers enjoy free roaming to all Airimba properties.

A key part of Airimba Wireless' growth platform is its seasoned executive team, each of whom has more than 20 years of industry experience. The company's executives have helped successfully manage numerous high-tech, wireless, and other telecom companies in all phases of growth.

About Airimba Wireless

Airimba Wireless is high-speed wireless Internet service provider that designs and installs turnkey wireless networks in MDUs. Airimba offers reliable, simple-to-use, broadband wireless Internet access to multi-dwelling units (MDUs), their residents, and to surrounding retail businesses that serve the MDU communities. Airimba uses proven, standards-based Wi-Fi(R) technology to provide a blanket of wireless coverage for Internet access to each venue served. The privately owned company currently serves over 70 locations in seven markets. For more information, please visit our Web site at www.airimba.com.

Contacts


Trinity Public Relations
Media Contact:
Tony Katsulos, 214-278-0183
972-741-8545 (wireless)
katsulos@trinity-pr.com
or
Airimba
Annette Gieseman, 214-413-3226
publicrelations@airimba.com

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