SAN JOSE, Calif., Aug. 6, 2002 (PRIMEZONE) -- Reality Wireless Networks, Inc., (OTCBB:RWNT) today announced that Fiber LLC and Reality Wireless Networks have been working jointly to deploy wireless high-speed Internet services within the city of Palo Alto. Fiber LLC was a group interested in in exploring fiber to the home scenario and had a small network active in Palo Alto.
This deployment uses a hybrid approach combining access to the PAIX via the Fiber LLC ring with Reality's wireless service to the home.
Fiber LLC, who initially provided project funding, says that Fiber LLC is excited to continue its relationship with Reality to build on the work done in Palo Alto to deploy the hybrid approach in other communities. Fiber LLC has decided to convert an earlier convertible promissory note investment into equity securities of Reality.
Board Advisor Bruce Campbell has advocated the utilization of dark fiber connecting substations emplaced by many municipal utilities in the last decade to bring high speed Internet access to communities that have no effective alternative.
"There is a perception by many communities that high speed access is an essential part of economic development. Reality Wireless Networks can provide this essential service while using dormant fiber capacity cost effectively," said Mr. Campbell.
About Reality Wireless Networks: (http://www.realitywirelessnetworks.com).
Reality Wireless Networks offers broadband wireless services through hybrid networks including fiber / wireless, 802.11 to markets not currently served by DSL and Cable modem technologies. Currently operational in California, 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 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 marketing relationships and suppliers, the Company's ability to protect its intellectual property rights and other risks and uncertainties.