VALUATION
Friday December 11, 9:04 am Eastern Time
Company Press Release
The Holt Media Group Issues Its Market Valuation Update on World Wide Wireless Communications, Inc.
SAN FRANCISCO--(BUSINESS WIRE)--Dec. 11, 1998--The Holt Media Group (HMG) has issued its market valuation update on the assets of World Wide Wireless Communications, Inc. (OTC BB:WLGS - news) and has appraised those assets at $39,000,000 current value and $250,000,000 future value.
HMG's appraisal is set out in a 59-page document in which the company and the industry are carefully analyzed and reviewed.
According to HMG, ''World Wide Wireless Communications finds itself in the enviable position of having not been enmeshed in earlier failed wireless cable efforts.''
Describing the visionary approach of the Company's founder, Michael Lynch, and his efforts and concentration on digital technology, the appraisal goes on to note that ''World Wide Wireless Communications is now entering the industry as an operational company without heavy baggage and with a clear and consistent vision of the best uses for the bandwidth for which it holds licenses and options.''
In its in-depth analysis of the Wireless Internet Division of the Company, HMG noted that the Company's concept of High Speed Internet Access, which it had developed several years ago, far ahead of most others in the field, has ''been validated by recent events (and) the stage appears to be set for substantial growth if all elements of the business plan are successfully implemented.''
HMG also analyzed the recent creation of the Company's German affiliate, World Wide Wireless-Europa. It said the ''Holt Media Group maintains a familiarity with European media and communications ... and from this perspective is of the opinion that the plans of the Company are, while forward-looking, quite valid and realistic.''
HMG also analyzed the Micronet Division of the Company which is the research and development division focused on the completion of Virtual Division Multiple Access (VDMA) communications chipsets and on the field of advanced design for the wireless telehony industry.
Although the appraisal specifically excludes any analysis of the technical merits of VDMA, HMG ends its analysis of this Division by stating that ''we conclude (VDMA) will be a revolutionary and extremely profitable product for the Company.''
For over twenty-five years, HMG has provided distinctive specialized services in the field of electronic communications and technologies. HMG is the oldest independent name in communications appraisal including radio, television, cable, wireless and evolving technologies, and is listed in the National Forensic Register as experts in the field.
It is a member of the Appraisal Foundation, and the work product it prepares conforms to the current Uniform Standards of Professional Appraisal Practice (USPAP) as they relate to the valuation of the interests being valued.
WLGS is pleased by the appraisal given by the HMG. The appraisal confirms the Company's technical and visionary leadership in the development of high speed internet access and applauds WLGS' lack of ''excess baggage'' due to the Company's single minded concentration on digital technology.
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Contact:
World Wide Wireless Communications, Inc., San Francisco
Douglas Haffer, 415/956-9190
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