SAN JOSE, Calif., May 3, 2002 (PRIMEZONE) -- Reality Wireless Networks, Inc. (OTCBB:RWNI) announced that Victor Romero has joined their Board of Directors. Mr. Romero provides the company with an extensive background, including initiating and developing the initial strategic plan for evolving ISDN into DSL as Program Director for Emerging Technologies at Pacific Bell, leading sales and operations efforts as VP for Sales & Operations at OrcoNet.com and directing start-up operations for various Internet-related companies.
Reality Wireless utilizes a hybrid set of technologies, including fixed wireless, fiber and 802.11, to provide broadband access. Its business model targets highly defined demographics and specific locations with limited or no current access to broadband Internet cable and/or DSL services.
The Strategis Group projects that broadband wireless networks will cover 43% of U.S. businesses and 34% of U.S. households by 2003. A study by IDC estimates that by the year 2003 U.S. residential and SOHO wireless broadband service revenues will grow from $540 million in 1999 to $4.7 billion; a compound rate of 72% per annum.
Asked to comment, RWNI co-founder Ricardo Ramirez, said: "Victor deserves the credit for the development of our key strategy 'Reality Wireless in a Box.' He is a team player, an outstanding leader of an especially talented management team and a valuable addition to our Board."
Mr. Romero said, "I am pleased to join Reality Wireless Network's Board of Directors. The added responsibilities are more than offset by the opportunity to play an even more active role in the continued growth of our company. This is a company with a management team whose expertise and experience readily distinguish it from others at this stage in their evolution. There is no question that there is large market opportunity for companies who can cost-effectively offer a viable product that provides an answer to the last-mile conundrum.
"The real challenge is to build a business combining the right technologies for the right demographics at the right price -- which means you have to keep customer satisfaction high and customer acquisition costs low. Our approach is something we call `Reality in a Box,' which refers to our business model for rapidly scaling our business across the country without the inefficiencies that burdened other companies previously in this market. I am confident that by maintaining the discipline and focus in our strategies we will continue to grow our business."
Romero also stated that he is excited about delivering good old-fashioned customer service while providing a valuable product that is sorely needed in the under-served communities. "Wherever we go across the United States people express concern about the unavailability of broadband services or the poor service they receive."
Reality Wireless Networks, a Nevada Corporation, is a Campbell, California-based Corporation that specializes in providing high-speed wireless Internet access. Utilizing their modular, "Reality Wireless in a Box" the company's main focus is areas that are under-served or not served at all by traditional services like DSL and Cable modem technology.
About Reality Wireless Networks (http://www.realitywirelessnetworks.com).
Reality Wireless Networks offers broadband wireless services through hybrid networks including fixed wireless, 802.11, and fiber to markets either under-served or not served by DSL and Cable modem technologies. Currently operational in California and the Pacific Northwest, the Company has targeted the residential, SOHO, and multi-tenant unit markets. For more information please contact: ir@realitywirelessnetworks.com.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this press release constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Reality Wireless Networks, Inc. (collectively, referred to as "Reality," "we," "us," "our," and/or the "Company"), or developments in the Company's industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company's limited operating history, lengthy sales cycles, the Company's dependence upon a relative concentration of customers, competition, product development risks and risks of technological change, dependence on selected vertical markets and third-party marketing relationships and suppliers, the Company's ability to protect its intellectual property rights and other risks and uncertainties.