WebSky enters joint venture with a local telecom company to design, construct, launch, and jointly operate a wireless broadband internet system in Buenos Aires

October 27, 2004

1 Min Read

BUENOS AIRES -- WebSky, Inc. (Pink Sheets:WBSK) announced today in the Argentine capital that it has entered into a joint venture agreement with a local telecommunications company to design, construct, launch and jointly operate a wireless broadband internet system for the Greater Buenos Aires region. While the specific terms of the agreement were not released, the joint venture calls for the staged build out of a "Next Generation" Non-Line-of-Sight system, to be compatible with current and developing "Wi-Max" standards, throughout the region over the next eighteen months.

According to WebSky spokesman, Eduardo A. Axtle, the service area covered by the agreement has a population of over 16 million people and includes the majority of Argentina's business, educational, and governmental sector along with nearly half of the country's population.

"We are extremely pleased and excited to be able to participate, in a majority capacity, in this joint venture to develop a broadband wireless system in one of the world's great cities," stated Douglas Haffer, President and Chief Executive Officer of WebSky. "We have, for some time, directed our efforts to securing such an agreement because we believe that the steady rebound in the Argentine economy, its rapidly growing telecommunications sector, and the explosion in the demand for broadband services there combine to create optimum conditions for a successful project."

WebSky Inc.

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