SANTA ANA, Calif., Nov. 23, 2004 (PRIMEZONE) -- eWan 1, Inc. (Pink Sheets:EWAN) today revealed that Los Angeles-based Vocom International Telecommunications, Inc. (VTI), has agreed to provide bridge funding to the Company of $2,000,000, which will be utilized to roll out eWan's Hybrid WiFi/WiMax wireless network to the entire Los Angeles basin, including Los Angeles, Orange, Riverside, and San Bernardino counties, more than one thousand square miles.
William J. Kettle, CEO of eWan observed, "This is the initial step toward a national rollout that will eventually encompass all forty-eight continental states. We are particularly pleased to introduce our revolutionary DMC 200 Advance Digital Media Center to the public. The Triple Play Digital Media Center is a new generation of media system, combining the functions of set top box, personal computer, home audio, media storage, residential gateway, personal video recorder and telephone in a single, easy to use, platform. The Triple play allows for voice, video and data.
"eWan's Wi-Fi network will be a complete last mile replacement," Kettle stated. "Ever since divestiture in 1986, it has been our quest to be able to reach the consumer market without having to tunnel through one of the incumbent local exchange carriers such as SBC, Verizon, and others. By utilizing wireless technology, or a last mile replacement, we are will be able to offer services to the 3,500,000 retail consumers and the small and medium business sector within the LA basin."
Under the terms of the Memorandum of Understanding for bridge funding with Vocom International, Vocom will provide two million dollars (USD$2,000,000.00) in cash and banking guarantee to eWan. Additionally, eWan and Vocom will begin negotiating joint venture opportunities in the communications delivery research and development. The joint venture is expected to be finalized by the end of this year, subject to board approval. eWan recently announced a $250,000 funding commitment from Chicago-based Nutmeg Group, L.L.C.
About eWan 1, Inc.
eWan 1 Inc achieved a technology breakthrough in the "set top box" market by being the first to develop and bring to market a next generation platform that delivers both "triple play" (the combination of voice, video and data) in a single device, and also supports the new video encoding standard from Microsoft - Windows Media Player 9. eWan specializes in broadband network solutions including high-speed Internet access, data, gaming, voice and video services, eWan utilizes the most advanced network design and architecture in the industry, based on building its telecommunications network "on top" of major metropolitan fiber optic interconnection points within class 'A' carrier facilities, and by incorporating the fastest, most reliable, redundant and scalable hardware available. At present, EWAN is the only midsize ISP offering "wire-speed" networking in every device, at every access point.
About Vocom International
Vocom International is the parent company of Vocom Telecommunications, a facility based telecommunications service provider with assets and holdings in the United States and Asia. Vocom organization includes, Telecommunications Arbitrage, Wholesale IDD sales, Carrier Switching platform integration and deployment, Software development, and Technical Research. For more information about Vocom, visit the company's website at www.vocom.com
Forward-Looking Statements
Certain statements in this news release may contain "forward-looking" information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.