SAN JOSE, Calif., April 4, 2002 (PRIMEZONE) -- Reality Wireless Networks, Inc. (OTCBB:RWNI) announced that it was expanding its Wireless Broadband Internet services to Southern California, beginning with Woodland Hills, an upscale suburb in the center of the San Fernando Valley. The Company expects to begin operations in early May.
Reality Wireless Networks is a Campbell, California-based company that specializes in providing high-speed Internet access to a target market of small businesses, residential users and apartment complexes in areas where cable and DSL broadband solutions are either unavailable, limited or of poor quality. Demand by these users for broadband Internet access is very well established and the Reality Wireless technology provides a cost-effective solution for broadband connectivity. In short, Reality Wireless offers its users a solution they can buy.
Woodland Hills is the first in a series of California cities and communities that Reality Wireless has identified as having substantial unmet demand for high-quality broadband services expected to be added by year's end as the company implements its rapid deployment, "Reality Wireless-In-A-Box" program.
Modularity is a familiar concept already in wide use, wherever speed and quality are shared priorities. "RealityWireless-In-A-Box" is both a symbol for, and a practical application of, this concept. Each service area is its own module, a stand-alone profit center that is evaluated, established and operated using other modules designed specifically for the demographic, geographic and technological needs unique to each area.
"Woodland Hills is typical of many urban cities with areas whose residents either have no access at all to broadband Internet or are unsatisfied with the quality of what is available. Of its approximately 60,000 total residents, as many as 15,000 are potential subscribers to our company's wireless broadband Internet services," says the company's General Manager for Southern California, Rick Kahn.
When asked about projected profits, Mr. Kahn said, "Due to the flexibility and resultant low startup costs, which are a major component of our 'RealityWireless-in-a-Box,' the company expects to reach breakeven quickly. Of the potential 15,000 subscribers, we need an average base of only seventy subscribers for a full year to cover both the initial startup costs and infrastructure expenses for that same period."
Mr. Kahn also took time to stress the importance the company places on not being tied to any particular technology, saying, "Unlike some, Reality Wireless is not a technology company offering a service as a way to create a market for its product. We are a service company with a 'Box' filled with an every changing selection of the latest technologies from which to choose whichever will assure the best possible service at all times."
About Reality Wireless Networks (http://www.realitynetworks.com)
Reality Wireless Networks offers broadband wireless services through hybrid networks including fixed wireless, 802.11, and fiber to markets either underserved or not served by DSL and cable modem technologies. Currently operational in California and the Pacific Northwest, the company has targeted markets including residential, SOHO, and multi-unit apartment complexes across the country. For more information, please contact: ir@realitynetworks.com or call Donald Schwall at 408/379-1716.
NOTE: Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks or uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the operating results, performance or financial condition are the company's ability to achieve and manage growth; the company's ability to successfully identify suitable acquisition candidates, complete acquisitions or integrate the acquired business into its operations; the company's ability to attract and retain qualified personnel; the company's ability to develop new services; and other factors discussed in Reality Wireless Networks' filings with the Securities and Exchange Commission.