** WLGS ** NEWS Expansion in Europe! Stock cheap....near low.
(BSNS WIRE) World Wide Wireless Communications, Inc. Announces Expansion
World Wide Wireless Communications, Inc. Announces Expansion of Agreement to
Establish World Wide Wireless-Europa
Business Editors/High Tech Writers
SAN FRANCISCO--(BUSINESS WIRE)--March 10, 1999--World Wide
Wireless Communications, Inc. (OTC BB:WLGS) and World Wide
Wireless-Europa, its Munich, Germany based affiliate, announced today
an expansion of the original Nov. 15, 1998 agreement.
The expansion of the original agreement is the result of the
intent of WWW-Europa to quickly enlarge its area of operations from
Germany to, among others, Poland, the Czech Republic, Slovakia and
Hungary. While WWW-Europa continues moving forward with its efforts to
establish service in Germany, it appears that a faster-track to
functional operability may exist in neighboring nations to the east.
Under the terms of the expanded agreement, the WWW-Europa
investor group will increase its ownership interest in WLGS from
approximately 10.9% to 19%. In exchange, those investors double their
investment in WLGS to DM1,000,000 (approximately $600,000) and WLGS's
ownership interests in WWW-Europa will increase from 29.9% to 49.9%.
As was announced previously, WLGS has secured a commitment of a
substantial additional investment from other investors in support of
these European operations.
WLGS believes that the potential for the growth and development
of high-speed wireless Internet services in Europe -- and particularly
in those nations which have recently transitioned from state-ownership
and control to private-ownership or licensing of telecommunications --
is enormous.
Frustration and dissatisfaction with the current cumbersome and
antiquated telephone-based system continues unabated and interest in
alternatives, such as that offered by WWW-Europa, to the current
system remains extraordinarily high.
Projected growth of Internet use in Europe necessitates the
development of faster, and higher capacity connections to the 'Net
which can be accommodated only by either onerously expensive
infrastructure improvement of the wired-system or the creation and
development of a broadband wireless system.
In terms of both cost and time, the development of the wireless
system, such as WWW-Europa is developing, would seem to be the system
of choice for Europe's future.
Officials and technicians from WLGS expect to travel to Germany,
the Czech Republic and neighboring areas next month in support of the
development of the European operations. It remains the expectation
that operations will commence in Europe prior to the end of the year.
Safe Harbor Statement under the Private Securities Litigation
Reform Action of 1995: The statements contained in this release, which
are not historical, are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements.
Those risks and uncertainties include, but are not limited to, certain
delays beyond the company's control with respect to market acceptance
of new technologies and products, delays in testing and evaluation of
products, and other risks associated with the industry in which the
Company operates.
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CONTACT: World Wide Wireless Communications, Inc.
Douglas P. Haffer, 415/956-9190
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED TELECOMMUNICATIONS
INTERACTIVE/MULTIMEDIA/INTERNET MERGERS/ACQ
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