CLEARWATER, Fla., Aug. 5, 2003 (PRIMEZONE) -- Earlier this year it was reported that Sky Way Aircraft Inc, the now wholly owned subsidiary of SkyWay Communications Holding Corp. (OTCBB:SWYC), had entered into an asset purchase agreement with AT&T Wireless Services Aviation Communication Division to purchase selected assets of the former Airborne Telephone Communications Network. This purchase consisted of selected network communications equipment, embedded software license, tower site business and technical documentation associated with over 100 U.S. tower locations throughout the U.S. It also included the option of purchasing specific patent licenses that are associated with the operations of the telephone related communications network.
SkyWay Communications Holding Corp. and Sky Way Aircraft, Inc. are very pleased to announce that an agreement for a limited, non-exclusive license to use selected patents that were associated with AT&T Wireless Services Aviation Communications Division was signed. This licensing agreement will provide the use of specific AT&T Wireless patents that are necessary to operate certain airborne communications equipment and air-to-ground network systems. This complements SkyWay's and other's homeland security, Internet, entertainment on demand, flight data management and telephone access products, which will utilize SkyWay's network when completed.
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. AT&T Wireless Services is not affiliated with Skyway. Skyway is solely responsible for the accuracy of the technical, legal, and business information in this press release.
For more information regarding SkyWay Communications Holding Corp., please contact:Brent Kovar, President (727) 535-8211 OR www.skywayaircraftsecurity.com