CLEARWATER, Fla., July 7, 2003 (PRIMEZONE) -- SkyWay Communications Holding Corp. (OTCBB:SWYC) announced today that on June 20, 2003 it entered into a Letter of Intent (LOI) with Executive Charter Inc. a Clearwater Florida-based executive jet charter service. Terms of the LOI call for the installation of the Sky Way Aircraft System on five (5) of Executive Charter's aircraft. Sky Way's system is being designed to include advanced passenger communications consisting of audio and video on demand (AVOD), multi-phone services, e-mail, high-speed wireless internet access, advanced in-flight entertainment (IFE), airborne security and Flight Management Avionics Data Link (FMADL) for monitoring the mechanical health and welfare of the aircraft.
Brent Kovar, President of Sky Way Communications Holding Corp. said, "The Executive Charter VIP clientele require high-speed in-flight services that may also provided additional security. Sky Way's system will be supported by 15Mbps of through-put to the ground and back, the equivalent of 10 T1 lines. When our network is completed and our services installed in these planes, Executive Charter will be able to offer their clientele a high-speed, versatile in-flight service package that is being designed to surround them with a safe and secure flying environment."
About Sky Way Aircraft, Inc.
Sky Way Aircraft, Inc. is a Clearwater, Florida-based company that is developing a unique ground to air in-flight aircraft communication network that it anticipates will facilitate homeland security and in-flight entertainment. Sky Way Aircraft is focused on bringing to the market a network supporting aircraft-related service including anti-terrorism support, real time in-flight surveillance and monitoring, WIFI access to the Internet, telephone service and enhanced entertainment service for commercial and private aircraft throughout the United States. Based on the final upgrading of a previous airborne telephone and communications network, Sky Way Aircraft intends to provide broadband connectivity between the ground and in-flight aircraft throughout the U.S. using technology that provides a broadband high-speed data transmission. Sky Way Aircraft intends to be the communications solution for commercial and private aircraft owners wanting real time access to on-board security systems, aircraft health and welfare monitoring, avionics operations and for passengers wanting real time high-speed access to the internet. Their network will enable applications that can personalize the in-flight entertainment experience, provide real time access to flight management avionics with long-term data storage and also support for ground monitoring of in-flight surveillance systems that are being designed with the goal of enhancing current airline security standards.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.