Towerstream Teams With Alcatel-Lucent for Small Cell Services Agreement

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| Source: Towerstream Corporation

MIDDLETOWN, R.I., May 29, 2014 (GLOBE NEWSWIRE) -- Towerstream Corporation (Nasdaq:TWER), a leading 4G and Small Cell Rooftop Tower company, today announced a small cell services teaming agreement with Alcatel-Lucent (Euronext Paris:ALU) (NYSE:ALU) enabling a one-stop solution for carriers to deploy Small Cell wireless infrastructure.

The agreement, which leverages Towerstream's Fixed Wireless and Small Cell assets (marketed under its HetNets Tower Corporation subsidiary) gives Alcatel-Lucent access to locations and services, including high-capacity backhaul, power, and mounting rights, to instantly meet its customers preferences and technical needs.

"Alcatel-Lucent's expertise and relationship with carriers puts our real estate assets on a quick path to small cell deployments," said Jeff Thompson, Chief Executive Officer. "Alcatel-Lucent has proven to be a leading designer of wireless networks. The combination of their market experience and customer base coupled with our 5000 plus locations, immediately available on-site high capacity backhaul, and pre-built infrastructure allows us the opportunity to instantly meet the needs of carriers whether it be an all encompassing build-out or a la carte solutions."

"Scaling the deployment of metro cells requires that we simplify site acquisition, power accessibility, and backhaul connectivity. By adding Towerstream to our Metro Cell Express Site Certification program we have greatly expanded our ability to help our customers accelerate small cell sites on-air, helping them to build the ultra broadband wireless networks that their subscribers demand," said Mike Schabel of Alcatel-Lucent.

Through this agreement, both Alcatel-Lucent and Towerstream will work together to support each other in preparing customer proposals and projects and either can sign up carriers as the general contractor while working with the other on a sub-contractor basis.

About Towerstream Corporation

Towerstream (Nasdaq:TWER) is a leading 4G and Small Cell Rooftop Tower company. The company owns, operates, and leases Wi-Fi and Small Cell rooftop tower locations to cellular phone operators, tower, Internet and cable companies and hosts a variety of customers on its network. Towerstream was originally founded in 2000 to deliver fixed-wireless high-speed Internet access to businesses and to date offers broadband services in 12 urban markets including New York City, Boston, Los Angeles, Chicago, Philadelphia, the San Francisco Bay area, Miami, Seattle, Dallas-Fort Worth, Houston, Las Vegas-Reno, and the greater Providence area. For more information on Towerstream services, please visit www.towerstream.com and/or follow us @Towerstream.

The Towerstream Corporation logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=6570

About HetNets Tower Corporation

HetNets Tower Corporation ("HetNets") was formed in January 2013 as a wholly owned subsidiary of Towerstream Corporation (Nasdaq:TWER), and offers a neutral host, shared wireless infrastructure solution, either independently or as a turnkey service. Its wireless communications infrastructure is available to wireless carriers, cable and Internet companies in major urban markets where the explosion in mobile data is creating significant demand for additional capacity and coverage. HetNets offers a carrier-class Wi-Fi network for Internet access and the offloading of mobile data. Its street level rooftop locations are ideal for the installation of customer owned small cells including DAS, Metro and Pico cells. Other solutions provided by HetNets include backhaul, power, and related small cell requirements. More information is available at http://www.hetnets.com.

Safe Harbor

Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the Company with the Securities and Exchange Commission, including, without limitation, risk related to our ability to deploy and expand small cell rooftop tower locations in the New York City and other key markets. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

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