KeyOn Communications Agrees to Merge with Internet America to Create a Stronger Provider of Broadband Services to Rural Communities

Business Wire, Nov 18, 2008

This press release includes disclosure regarding "Adjusted EBITDA," which is a non-GAAP (generally accepted accounting principles) financial measure defined as earnings or loss from operations adjusted for depreciation, amortization, interest, taxes and non-cash stock based compensation expense. Adjusted EBITDA is used because of management's belief that this measure is a financial indicator of the Company's ability to internally generate operating funds and is used by investors and other companies in their peer group. Adjusted EBITDA should not be construed as an alternative to operating loss as defined by GAAP.

Internet America and KeyOn are subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including their Annual Reports on Form 10-KSB for the years ended June 30, 2008 and December 31, 2007, respectively, and in the companies' 2008 Quarterly Reports on Form 10-Q. You should read those factors as being applicable to all related forward-looking statements wherever they appear in this press release. We do not assume any obligation to update any forward-looking statements. The terms and conditions of the merger are as set forth in the Merger Agreement.