Corridor Communications Corporation Signs Letter of Intent to Acquire the Cable Television System Assets of CableVision Inc. Company Moves Forward to Provide Wireless Broadband Service in High-Density MDU Markets in Texas Through Its Newest Cable Acquisition Target MOUNTAIN VIEW, Calif., June 14 /PRNewswire-FirstCall/ -- Corridor Communications Corporation (OTC:CORR) (BULLETIN BOARD: CORR) has entered into a LOI to acquire CableVision Inc. Cable TV assets in a deal for cash and stock. CableVision owns cable television systems serving multiple apartment communities in Texas and Michigan, with over 7,000 homes passed. The systems have an annual recurring revenue stream of over $1.1 Million from its current subscriber base. The company plans to provide both a wired and wireless option in the apartment complexes that will blanket not only the current service area but will have an additional service area of a 15 mile radius at each of the locations. To enhance its offerings to users, Corridor Communications will immediately deploy Wireless HotZone service in these under-served cable markets. Corridor plans to market its high-speed wireless Internet services in high density first tier markets by building networks of hotspots to provide ubiquitous service in an un-tethered environment. "This opportunity is strategic for us, we see ourselves being a major competitor in areas where we can find a lot of savvy users in high-end, high-density communities as well as the 2nd and 3rd tier communities. We have already implemented this type of service in our Salem Market by installing hybrid wireless systems in apartment complexes where no other Broadband options are available. We know that by adding High-Speed Wireless Broadband Services we create solid revenue and happier customers," said J. Michael Heil, Chief Executive Officer of the Company. Scott Mac Caughern, Chairman of Corridor Communications Corporation stated, "The Cable Vision asset acquisition along with last weeks announcement to acquire 7,000 subscribers from Coast Communications confirms our business strategy; as we now have back to back Cable TV deals that will bring to us over 10,000 paying subscribers and over 50,000 homes passed in a nearly no competition environment. Having a legacy asset with a solid recurring revenue foundation will certainly help us continue to execute our growth plan." About Corridor Communications Headquartered in Mountain View, California with Operations in Salem, Oregon, Corridor Communications, Inc. is an integrated wireless Internet service provider (WISP) offering high-speed Internet and data services, to residents and businesses. The Company plans to implement a growth-through-acquisition strategy by targeting small to mid size Dial Up Internet Service Providers (ISP) in areas underserved by current broadband options. The growth strategy will also focus on creating partnerships with existing hot spot management companies while building company owned hotspots to create ubiquitous coverage or "Hot Zones" that encompass entire cities. Corridor's IP-Based technology supports all hardware meeting Wi-Fi 802.11(x) standards operating in an unlicensed spread spectrums (2.4 GHz and 5.7 GHz), and can be deployed far less expensively than comparable copper and cable technologies. The company also plans to leverage its network build out for other services that may include voice and video. For more information about Corridor Communications, please visit the Company's web site at http://www.corridorcommunications.com/ "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. Our forward-looking statements are based on currently available information which management has assessed but which is dynamic and subject to rapid and even abrupt change due to risks and uncertainties that affect our business, including the unpredictability of future revenues and limited visibility into future demand on which to base our forecasts; the current uncertainty in our marketplace which may impact expected demand, customer selection criteria and sales cycle; our ability to execute on product deliverables and major customer contracts, slower economic growth generally, slower adoption of broadband technology, or cutbacks in information technology spending; and factors beyond our control such as power outages or work stoppages at key customers. CONTACT: Scott Mac Caughern of Corridor Communications Corp., +1-650-961-5707, or smac@speedpalcom. DATASOURCE: Corridor Communications Corporation CONTACT: Scott Mac Caughern of Corridor Communications Corp., +1-650-961-5707, smac@speedpalcom Web site: http://www.corridorcommunications.com/

Copyright