Aerie Grabs Metricom Assets

DENVER -- Aerie Networks, Inc. announced today the acquisition of the Ricochet(TM) wireless broadband network assets and intellectual property in an $8.25 MM cash deal from bankrupt Metricom, Inc. The deal was awarded to Ricochet Networks, Aerie Networks' newly formed subsidiary company, during bankruptcy court proceedings on November 2, 2001. The sale should be finalized this week. Aerie Networks plans to work in partnership with communities and local service providers to reactivate the 17 metropolitan markets initially deployed by Metricom and to deliver high-speed connectivity to underserved markets. Ricochet's patented technology delivers wireless broadband access that is simple, fast and affordable. "Ricochet has had an incredibly loyal customer base that has made it clear that they want their Ricochet back. As a former customer, I too am passionate about restarting the Ricochet service," said Mort Aaronson, President and Chief Executive Officer of Aerie Networks. "In order to bring it back, we will create partnerships to provide the service at a new lower price point than previously offered and make it available to millions of users where they buy other related products and services."Aerie Networks Inc.