SAN FRANCISCO, Sept. 13, 2005 (PRIMEZONE) -- WebSky, Inc. (Pink Sheets:WKYN) announced today that it has entered into long-term leases for the commercial use of licensed Educational Broadband ("EBS") wireless frequency spectrum in four new small and underserved United States markets. The leases, between WebSky and Shekinah Network, covering Pierre, South Dakota, La Grande, Oregon, Del Rio, Texas and Las Vegas, New Mexico, are for 24 MHz of bandwidth in the 2.5 GHz band and have a term of up to thirty years. WebSky has previously announced plans to construct high speed wireless broadband or Wi-Max systems in its domestic and international markets and will add these four new locations to those plans.
In conjunction with these four new markets, WebSky has terminated its previous agreement with Shekinah for licensed frequency in Aspen and Vail, Colorado. The prior agreements between Shekinah and WebSky for Grand Rapids, Michigan, Key West, Florida, La Crosse, Wisconsin, Ukiah, California and Hilo, Hawaii remain in force. However, in connection with the four new leases, the parties have executed amendments to those pre-existing five agreements creating terms more favorable to WebSky.
"The addition of these four new markets further focuses WebSky on its model of securing licensed frequencies and developing wireless broadband projects in underserved domestic and international markets," noted Douglas Haffer, President of WebSky. "The combination of a larger total population in the four new markets and a lower penetration of pre-existing broadband services should allow WebSky to more effectively secure market share in these four locations," he added.
The population of the four new United States markets announced today is 25% greater than that of the two locations being terminated. The total population within WebSky's domestic licensed frequency footprint is over 1.85 million. Internationally, WebSky has previously announced agreements relating to licensed wireless broadband projects covering over 30 million people.
About WebSky, Inc.
WebSky, Inc. is a San Francisco-based company that currently controls licensed radio frequencies to be used to develop wireless broadband/Wi-Max systems in nine small and medium sized cities in the United States. In addition, the Company has previously announced agreements for the development of wireless broadband/Wi-Max systems in India, Argentina, and other emerging economies.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Those risks and uncertainties include, but are not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies and products, delays in testing and evaluation of products, and other risks associated with the industry in which the Company operates.