Multiband Launches Broadband Services Nationally
Wednesday November 24, 11:02 am ET
Partner Telkonet to Provide Equipment and Services Under Agreement; Additional Services Expected to Generate Significant Incremental Revenue for Multiband
GERMANTOWN, Md.--(BUSINESS WIRE)--Nov. 24, 2004-- Multiband Corporation (NASDAQ: MBND - News) a provider of voice, data and video systems and services to business and government clients, announced today that it has secured new agreements for the deployment of Telkonet's (AMEX: TKO - News) broadband PlugPlus(TM) system. New contracts for access to approximately 400 subscribers have been signed and services are being initiated shortly. Under a previously announced distribution agreement, Telkonet will provide, at its expense, the equipment necessary to service Multiband's base of over 500,000 apartments and 75,000 owned and serviced subscribers. Multiband will offer customers a broadband connection over existing electrical wiring, significantly increasing the revenue per customer. This activity represents the first of what is expected to be a very robust rollout process.
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Multiband provides voice, data and video systems and services to multiple dwelling units (MDUs), including apartment buildings and time share resorts throughout the United States. Telkonet's PlugPlus(TM) system provides broadband access inside commercial buildings over existing electrical wiring.
"We believe that our ability to offer broadband service to hundreds of thousands of customers represents an important new source of revenue for Multiband," said James L. Mandel, Multiband's CEO. "We have worked hard to build a large and growing footprint of customers, and our relationship with Telkonet, which eliminates expensive provisioning, should allow for quick and efficient deployment. We look forward to aggressively offering this solution to our customers across the country. The fact that we have already gained new agreements suggests that our new program will be well received. We intend on distributing this solution not only through our nationwide footprint but additionally through our network of over 750 DirecTV System Operators beginning immediately."
"Multiband's broad and growing customer base provides the ideal opportunity for Telkonet to showcase its broadband solutions," stated Ron Pickett, President of Telkonet. "In addition to reaching a large installed base, this deal will allow us to further penetrate one of our key target markets, the hospitality industry, through Multiband's existing relationships covering 100,000 hotel rooms."
About Multiband Corporation
Multiband Corporation (NASDAQ: MBND - News), formerly Vicom, Incorporated, formed in 1975, provides voice, data and video systems and services to business and government clients, and to multiple dwelling units (MDUs), including apartment buildings and time share resorts. The Company's products and services are sold to clients located throughout the United Sates. The Company has two operating divisions, Multiband Business Solutions and Multiband Subscriber Services, which encompasses the wholly owned subsidiary corporations Multiband USA, Inc. and URON, Inc.
In July 2004, the Company acquired Rainbow Satellite LLC, a private cable operator. Rainbow, with locations throughout the United States, has subscriber concentrations in California, Colorado, Illinois, Texas, Florida and New York. In August of 2004, Multiband acquired assets from 21st Century Satellite LLC, adding 23 upscale RV and Mobile Home Parks to its portfolio and raising it's owned and serviced subscriber base to over 70,000. Multiband has offices in Fargo, Minneapolis, Rochester, Los Angeles, San Francisco, Denver, Chicago and Tampa with satellite facilities through subcontractors in St. Louis, Dallas and New York. For additional information, please go to www.multibandusa.com.
About Telkonet
Telkonet's products provide connectivity over existing electrical wiring and do not require the costly installation of additional wiring or major disruption of business activity. In many situations, the Telkonet system can be implemented more quickly and less expensively than adding dedicated wiring or installing a wireless system. The Telkonet PlugPlus(TM) family of networking and internetworking products offers a viable and cost-effective alternative to the challenges of hardwiring and wireless local area networks (LANs). Telkonet PlugPlus products are designed for use in commercial and residential applications, including multi-dwelling units and the hospitality and government markets. For more information, please visit www.telkonet.com.
Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company's ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company's financial results, can be found in the Company's Registration Statement and in its Reports on Forms 8-K filed with the Securities and Exchange Commission (SEC).
Contact:
Multiband
James L. Mandel, 763-504-3000
or
CEOcast, Inc. for Multiband
Ed Lewis, 212-732-4300
or
Telkonet
Investors Stock Daily, Inc.
Jody Janson, 585-232-5440
jody@istockdaily.com
or
CEOcast, Inc.
Ken Sgro, 212-732-4300
kensgro@ceocast.com
or
Berkman Associates
John Hicks, 310-277-5162
info@berkmanassociates.com |
