Digital Broadband Networks to
Partner
With PointRed Technologies Inc.
CHARLOTTE, N.C, July 25, 2002 -
Digital Broadband Networks, Inc. (OTCBB:DBBD)
today announced that it has entered into
an agreement with PointRed Technologies Inc. (www.pointredtech.com) whereby DBBD will market and sell
PointRed's products worldwide. In reciprocation, PointRed will market and sell
DBBD's SmartHome Consoles, value added applications and services to its existing
and future clients. DBBD will also establish a service and sales center in
Malaysia to service PointRed's customers in the Asian region.
PointRed has further agreed to a purchase option allowing DBBD to
acquire up to 25% of PointRed's equity at a price and terms to be
approved by the Board of Directors of the respective companies. DBBD
and PointRed hope to complete this acquisition by end of the fourth
quarter 2002. Current institutional shareholders of PointRed include
Acer Technology Ventures (www.acervc.com), a
venture capital business unit of the Acer Group, Taiwan.
PointRed's micro cellular wireless broadband access system is a
low-cost, resource efficient backbone for 802.11 hotspots. This
technology will be utilized to connect hot spots currently deployed by
DBBD in collaboration with Aptilo Networks, Sweden (www.aptilo.com). PointRed's micro cell architecture
supports a "pay-as-you-grow" business model that avoids huge up-front
investments required in rolling out broadband services. PointRed has already
deployed its system in several countries in South America and Asia including
China and India. These contracts are expected to further boost DBBD's revenue
and growth rate. DBBD's partnership with PointRed will further help to expand
the market for its SmartHome Consoles and value added services.
On July 8, 2002, DBBD announced that its subsidiary, EyStar Media
Inc. has signed a Letter of Intent to acquire E-Dreamz Inc.
(www.e-dreamz.com), a web
development company, for $1.4 million. The acquisition is expected to close
within 90 days subject to completion of a due diligence by DBBD.
Richard Reich, chief executive officer of EyStar Media said, "The
combination of PointRed's solution with E-Dreamz's application
development services, Aptilo's hotspot technology and DBBD's SmartHome
Console will enable DBBD to offer a total solution, the first of its
kind in Asia, from development of applications to delivery of value
added services to its customers."
About Digital Broadband Networks
Digital Broadband Networks, Inc., a Delaware corporation,
(www.dbni.net) is the parent company of EyStar Media Inc., and
Malaysian-based Animated Electronic Industries (AEI), and its
subsidiary, Perwimas Telecommunications. EyStar Media, headquartered
in Charlotte, NC is involved in the development of value added
Internet Protocol services and marketing of office/home automation
devices. Perwimas is licensed to operate VISIONET, a national,
digital, wireless broadband network that will support high speed
Internet access, video on demand, multimedia applications and services
targeted towards both business and residential markets.
About PointRed Technologies
Founded in March 2000, PointRed (www.pointredtech.com) has created new opportunities for
service providers by offering a unique fixed wireless solution for last mile
connectivity. PointRed's technology differentiates itself from other broadband
wireless solutions with its cellular, non line-of-sight capability. PointRed's
technology complements an existing MMDS "Supercell" by expanding coverage within
the cell as well as areas that "Supercell" does not cover.
# # #
CONTACT:
Digital Broadband Networks,
Inc.
Richard Reich,
704/944-3104
richr@dbni.net
