Telecom Wireless Hires Former Deloitte Employee to Lead Mergers and Acquisitions

Business Wire, May 4, 1999

ENGLEWOOD, Colo.--(BUSINESS WIRE)--May 4, 1999--

Telecom Wireless Corp. (OTC:NOYRD) Tuesday announced the appointment of mergers and acquisitions specialist and entrepreneur Esper Gullatt Jr. as its vice president of mergers and acquisitions to lead the company's convergence strategy of ISPs, ASPs and CLECs.

Gullatt will oversee three mergers and acquisitions teams that will be strategically placed to position Telecom Wireless to become a leader in high speed wireless Internet delivery. He will also coordinate much of the company's international merger and acquisitions projects throughout Europe, Asia, South America and Canada.

Gullatt received much of his experience with noted firms Deloitte, Haskins & Sells, and Janson Riche Co., in addition to serving as the chief financial analyst for the state of Colorado's Department of Public Safety. For the past five years, Gullatt's Denver-based Capstone Group, a privately held telecommunications holding company, has been involved in the acquisition of multimedia and wireless technology based companies. He served as chairman and chief executive officer.

"Esper's entrepreneurial experiences and formal training provides Telecom with a strong presence in the mergers and acquisitions field," said Dr. James C. Roberts, chairman and CEO of Telecom Wireless. "The rollup of ISPs, ASPs and CLECs on both the domestic front and the international scene requires someone of Esper's caliber to drive shareholder value and strengthen Telecom's market capitalization."

Through strategic acquisitions and technology enhancements, Roberts is positioning Telecom Wireless to convert its network into a digital platform and challenge industry players such as WW Wireless (OTC BB: WLGS), PSINet (Nasdaq:PSIX), Concentric (Nasdaq:CNCX), AOL (NYSE:AOL), Microsoft (MSFT) and @Home (Nasdaq:ATHM), who are also racing to deliver the next generation in data delivery. The enhanced services TWC will introduce include television, two-way voice and data, and high-speed Internet access.

Forrester Research Inc. in Cambridge, Mass., predicts that the ASP market will experience explosive growth, moving from practically zero to $6.4 billion in just two years. As an early player, Telecom expects to gain significant market share in this new and expansive industry to enhance its revenue per subscriber for its ISP and CLEC businesses.

Telecom Wireless can be seen on the Internet at http://www.noyr.com. Telecom Wireless is in the process of becoming a fully reporting public company and is engaged in convergence of telecommunications services including the Internet and voice services through acquisition and development.

This news release contains forward-looking statements, such as future development activity. Telecom Wireless notes that there are a variety of factors which could cause the actual results to differ materially from the anticipated results expressed.