ICOA appoints Rick Schiffmann, founder and president of Airport Network Solutions, as its president

October 8, 2004

2 Min Read

WARWICK, R.1. -- ICOA, Inc. (OTCBB:ICOA), a major provider of neutral-host broadband wireless Internet solutions in high traffic locations such as airports, marinas, restaurants and public hot zones, announced today the promotion of wireless industry veteran Rick Schiffmann to president. The appointment, effective immediately, was made to the heads of all ICOA divisions during the company’s annual strategy retreat.

In making the announcement, CEO George Strouthopoulos said, “Rick’s promotion from executive vice president to president is a significant step forward for ICOA and its shareholders as we strengthen our management team and continue our rapid growth in broadband services. Rick is one of the most savvy and capable people in the wireless industry today. He has experience in all aspects of broadband wireless in high traffic public locations and has particular expertise in building revenue. He is charged with developing and executing our business growth strategy and we are confident that he will be successful."

Schiffmann said, “ICOA has established a solid platform for rapid growth over the coming years. We intend to significantly enhance shareholder value by rapidly ramping revenues and scaling our emerging platform of services and infrastructure into our current verticals. As broadband wireless alters the telecommunications landscape, we also plan to open greenfield vertical opportunities and to pursue appropriate acquisition opportunities.”

Prior to joining ICOA as executive vice president, Schiffmann was founder and president of Airport Network Solutions (ANS), now a wholly owned ICOA subsidiary. At ANS, Schiffmann led the company’s growth into six major regional airports serving over 20 million passengers annually. Prior to starting ANS, Schiffmann served as vice president of Cometa Networks, a wholesale broadband wireless venture with Intel, IBM and AT&T. Schiffmann gained much of his wireless and airport industry expertise with Aerzone, a subsidiary of SoftNet Systems, a pioneering wireless ISP that targeted frequent business travelers in public hot spots through the deployment of 802.11 infrastructure. As Aerzone’s vice president of business development, Schiffmann was instrumental in bringing significant equity partners into the business. Schiffmann previously was a management consultant with Dove Consulting in their Consumer Broadband Group and with Coopers & Lybrand. Schiffmann has an MBA from the Kellogg Graduate School of Management and a Bachelor of Arts from Bates College.

ICOA Inc.

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