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Press Release

Utopian Wireless Corporation Receives $4 Million In Additional USDA Broadband

Stimulus Funding Awards; Total Funding Awards Reach $11.8 Million

 

August 18, 2010, Bethesda, MD - Utopian Wireless Corporation (Utopian), an emerging 4th generation (4G) wireless provider, has been awarded $4 million in additional Broadband Initiatives Program funding from the U.S. Department of Agriculture (USDA), Rural Utilities Service (RUS), for deployment on licensed 2.5GHz frequencies of 4G 4G wireless networks in 4 additional rural underserved market areas. With the additional funding, the total RUS funding awards to Utopian to date is $11,857,740 for 14 projects in 8 states. The USDA funding announcement containing a list of some of the additional Utopian funded markets may be viewed at the USDA website: http://www.usda.gov/wps/portal/usda/usdahome

 

The funding consists of a 75% grant and 25% cost of money long term loan, and will help facilitate Utopian's efforts as a provider of emerging 4G wireless services to underserved rural markets.

 

"We are pleased to again be selected by RUS as a stimulus funding recipient to deploy 4G wireless services in additional underserved areas," said Utopian Founder, Chairman and Chief Executive Officer, Rudolph J. Geist. "Utopian looks forward to deploying these initial funded rural underserved market areas and expanding our network coverage into adjacent underserved rural as well as higher population density areas," said Geist.

 

Utopian is aggressively moving forward to implement the RUS funded areas and additional markets located within its substantial 2.5GHz spectrum footprint using currently available 4G technology. "Although we are deploying the latest 4G technology that is available today, the network will be upgradable to dual mode technologies in the future," said Gregory L. Rohde, Utopian's President and a member of its Board of Directors.

 

Of 25 applications filed with RUS for broadband stimulus funding, Utopian has received 14 awards to date and still has pending 11 applications.

 

For more information, please contact Noah Campbell at vcampbell@utopianwireless.com or (240) 821-9700 ext. 207.

 

About Utopian Wireless Corporation

Founded in 2006, Utopian was created upon the premise that rural communities, like their urban counterparts, should have access to wireless broadband services. Utopian Wireless focuses on building wireless networks in third tier and smaller markets where consumers are currently underserved by broadband service providers. Utopian is a holder of licensed 2.5GHz spectrum rights in 24 states, covering over 1,400 communities. By utilizing licensed spectrum in the 2.5GHz band, Utopian Wireless is building wireless broadband networks capable of providing reliable, fast, portable and mobile broadband connectivity at reasonable rates. For more information about Utopian, please visit our website at www.utopianwireless.com

 

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