CAMPBELL, Calif., March 4, 2003 (PRIMEZONE) -- Reality Networks (OTCBB:RWNT), a fixed wireless services provider, made public today its plans to begin phase two of its network deployment schedule. The Company believes that the demand and adoption for wireless broadband on the 80211 standards (fixed wireless broadband) continues to exceed industry analysts growth projections. The Company originally deployed its test networks in communities in California's storied Silicon Valley where access to broadband services was either expensive, unavailable, or both. Through the use of its proprietary network deployment model, "Reality in a Box," the company has targeted 10 communities with similar demographics as its beta communities and intends to provide its fixed wireless services to businesses and households in these communities. "The challenge was not only to address the needs of our targeted broadband Internet customers, but to provide these services at a premium quality, true broadband level through a viable business model. We have done that," said CEO Dennis Spina.
In conjunction with these efforts, the Company expects to close an equity financing shortly, led by a New York-based investment banking team with a communications focus. Proceeds will be used to launch its deployment strategy.
"I eagerly await the start of next deployments," said Spina. "We have identified 10 potential markets to implement our "Reality in a Box" strategy. Much hard work and effort will be coming to fruition very soon."
About Reality Wireless Networks (http://www.realitynetworks.com):
Delivers fixed wireless, 802.11, and fiber to markets either underserved or not served by DSL and cable modem technologies. Currently operational in California, the company has targeted markets including residential, SOHO, and multi-unit apartment complexes across the country. For more information, please contact: ir@realitynetworks.com.
NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain statements in this press release constitute forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. 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 relationships and suppliers, and other risks and uncertainties.