Pegasus Completes Name Change

FREMONT, Calif. -- Pegasus Wireless (OTCBB:PGWC), announces today that it has completed the name change from Blue Industries, Inc. (OTCBB:PGWC). Blue Industries, Inc. has changed its name to Pegasus Wireless Corp. and has received its new trading symbol PGWC.

"We are very pleased to have reached this final stage in our plan," stated Jasper Knabb, President of Pegasus Wireless. "We will now refocus our efforts on our business development and future exchange goals." Knabb further stated, "We would like to thank all of our shareholders for the patience through this process, and we will continue to release pertinent information and updates on the share exchange in the very near future. Investors with questions should feel free to contact our investor relations at [email protected]."

Pegasus Wireless Corp.