OKLAHOMA CITY, May 25, 2000 (PRIMEZONE) -- Ron Baker, President and CEO of AARO Broadband Wireless Communications, Inc. (OTC:AARO), a subsidiary of AAROW Environmental Group, Inc. issued the following statement today regarding the civil suit filed against AARO, Baker personally and other parties in Oklahoma County District Court:
"This suit is absolutely without merit and will be defended vigorously by AARO's legal representatives. As this corporation has stated publicly several times, the dissolution of our relationship with any past business partners was done only after careful consideration, repeated attempts at reconciliation and on the advice of legal counsel. We are confident AARO will prevail in this matter.
"The details of this situation are very clear and quite simple. I welcome this opportunity to finally tell my side of this story.
"In November of 1999, I and several of my affiliates entered into a joint venture agreement with BroadCom Wireless Communications Corp. which is the parent company to Broadband Wireless International Corporation, currently doing business as BBAN. Under the terms of this agreement, my affiliates and I were to build a team of technological talent to deploy fixed wireless Internet access in the United States. BBAN, as assignee of BroadCom's obligations, was to provide initial funding in the amount of $2 million by no later than January 17, 2000.
"By January 17 and thereafter, Broadband Wireless International Corporation failed to provide the required funding as promised. In fact, its own lawsuit admits the company provided less than $1 million for our joint venture.
"In April, after repeated attempts to negotiate with the principals at BBAN, the only remaining course of action was to inform BBAN that we were abandoning the joint venture agreement to obtain the necessary funding elsewhere. Our merger with AAROW Environmental Group, Inc. is the result.
"Since the dissolution of our joint venture with BBAN, I have been working with the Oklahoma Department of Securities and certain federal agencies in their continuing investigations of Broadband Wireless International Corporation and its affiliated companies. I will continue to provide my cooperation for as long as these agencies deem it necessary.
"As announced last week, AARO Broadband Wireless Communications began offering broadband fixed wireless Internet service in the Oklahoma City and Tulsa metro areas. The future is bright and the company will continue working toward its goal of providing unparalleled speed, application and customer service in more than 30 markets in 12 states throughout the next year."
About AARO
AARO Broadband Wireless Communications, Inc. provides wireless connectivity up to 100 MBps. AARO New World services such as unified communications, IP telephony and videoconferencing services are delivered via a highly secure, carrier-class IP network.
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This document includes forward-looking statements, made under the Safe Harbors Provision of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are generally identifiable by the use of words such as ``believe,'' ``expect,'' ``intend,'' and other words of similar nature. These statements are based on management's current expectations, estimates and projections that are subject to risk and uncertainties, including, but not limited to success of negotiations, availability of financing, political currency, regulatory, competitive and technological developments. Consequently, actual results could differ materially from those forward-looking statements. AAROW Environmental Group, Inc. does not undertake, and specifically disclaims any obligations to update forward-looking statements, which speak only as of the date made.