Pegasus Wireless Corp. (PGWC) President to Ring the NASDAQ Stock Market Opening Bell


MEDIA ADVISORY, July 20, 2006 (PRIMEZONE) --



 What:
 Jay Knabb, President/CEO of Pegasus Wireless Corp. (PGWC) will preside
 over the opening bell.

 Where:
 NASDAQ MarketSite - 4 Times Square - 43rd & Broadway - Broadcast Studio

 When:
 Friday July 21st, 2006 at 9:30 a.m. EDT

 Contacts:
 Larry Clark; 407.585.8800
 Investor Relations
 larry@drivenbysolutions.com

 NASDAQ MarketSite:
 Stephanie Lowenthal; 646.441.5220

Feed Information:

The opening bell is available from 9:20 a.m. to 9:35 a.m. on uplink IA-5 C-band/transponder 14. The downlink frequency is 3980 horizontal; audio: 6.2/6.8. The feed can also be found on Waterfront fiber 1623. If you have any questions, please contact Stephanie Lowenthal at (646) 441-5220.

Photos:

To obtain a hi-resolution photograph of the Market Open, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market open of your choice.

About Pegasus Wireless Corp. (PGWC):

Pegasus Wireless Corporation is a leading provider of advanced wireless solutions. Founded in 1993, Pegasus creates hardware and software solutions for broadband wireless networking and Internet access applications through its manufacturing facilities located in China and Taiwan. Pegasus' patented 802.11 technology is the platform for Wi-Fi technology, and the company offers cutting edge wireless products used in computer networking, industrial data transmission, and multimedia applications. Pegasus pioneered the industry's first driver-less, truly plug-n-play wireless Ethernet bridge, and the company's wireless networking products allow a higher user capacity per base station as compared to the competition. These products also offer advanced security, easy true plug-n-play installation, dynamic load balance, non-interrupting real-time roaming connectivity, e.g. VOIP, and fail-safe, self-healing mesh networking capability. Products are distributed through the company's facility located in California. Pegasus Wireless Corporation can be contacted at 510-490-8288 or by visiting their website at http://www.pegasuswirelesscorp.com/.