ADAIRSVILLE, Ga., May 6, 2004 (PRIMEZONE) -- Broadband Wireless International Corporation (OTCBB:BBAN) announces today that it received from Timothy Kline of Kline, Kline, Elliott and Bryant, who represented Broadband, all final signed documentation from the United States Bankruptcy Court of the Western District of Oklahoma to complete the exit from Chapter 11, Tuesday, May 4, 2004.
"We would like to thank the shareholders for their patience and loyalty during our recent reorganization of the company. We are looking forward to a great future in the building of The New BBAN," stated Chief Finance Officer Ben Stanley.
The corporation would also like to apologize to shareholders for the Press Release that was issued this morning by Dick Gersh of Richard Gersh Associates, which was unauthorized and contained several unfortunate inaccuracies.
"We are currently investigating the origination and parties from Las Vegas associated with the release," stated CEO Paul R. Harris. Mr. Harris further stated, "The service contracts of Dick Gersh of Richard Gersh and Associates (Press Agent) and Mark Kabbash (Investor Relations) were completed on March 31, 2004. Although their services were utilized on an ad hoc basis to assist with the PR on April 27 concerning the Miertschin settlement, they do not represent the Corporation as of this date."
Please address any concerns and questions to the questionnaire on our web site, www.thenewbban.com.
About Broadband Wireless International Corporation
Broadband Wireless International Corporation is a diversified holdings company moving into a wide variety of investments that are intended to generate positive cash flow for the corporation and dividends for the shareholders. The company currently holds interest in the timber and music industries.
Safe Harbor Forward-Looking Statements
This release contains 'forward looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward looking statements. Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated.