CAMPBELL, Calif., March 13, 2003 (PRIMEZONE) -- Reality Wireless (OTCBB:RWNT) announced today the appointment of Dennis Spina to the position of CEO by the Board of Directors. He will retain the title of President of the Company. His notable career in communications services includes the role of President/CEO of Totaltel/Covista with Revenues of $95.0 million, and Chairman and CEO of Erols Internet Services which was the largest regional internet services with revenues of $33.0 million (acquired by RCN, NASDAQ "RCNC"). He was also the New York Metropolitan Area Regional Vice President for Federal Express Corp. (NYSE, "FDX"). In that role he was ultimately responsible for all operations and sales in the eastern corridor, Maine to Washington, D.C, of the United States. That region represented 32% of the domestic revenue and 28% of the field personnel.
"My previous companies grew fast and became large, and I see the same opportunity with Reality Wireless. The market for WiFi services is growing and developing rapidly," said Spina. "Greater than 50% of US businesses and homes lack a viable or affordable Broadband option. Given the Reality Networks business model, our initial market opportunity is greater than $4.0 billion, we'd be pleased to serve 5% of that market."
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.