TeraGo Networks Completes Network in Canada's Largest Market [23rd April 2003]

TORONTO, Apr 23, 2003 /PRNewswire via COMTEX/ -- TeraGo Networks Inc., Canada's largest fixed wireless company, today announced it has completed a full-scale network build around five Greater Toronto Area (GTA) regions - downtown Toronto, Richmond Hill, Markham, Vaughan and a portion of Mississauga.

"Despite the economic downturn, we're continuing to add up to 60 medium- to large-sized business customers every month from across Canada," said Bryan Boyd, president & CEO of TeraGo Networks. "GTA is one of North America's faster growing regions and we are well on our way to becoming Canada's first national fixed wireless carrier."

TeraGo also added another multi-location customer, LodgeNet Entertainment (Canada) Corporation, based in Markham, Ontario. A leading distributor of interactive, multimedia entertainment and information services to the lodging industry, LodgeNet required the most advanced, cost-efficient and fastest method to deliver on-demand entertainment to hotel guests. As a result, TeraGo's fixed wireless network will connect 11 hotels in three provinces serviced by LodgeNet.

Through fixed wireless technology, TeraGo offers high bandwidth and Internet services ranging from 1.5Mbps to 100Mbps - Internet speeds that are up to 45 times faster than business DSL or up to 65 times faster than a T1 line.

As more businesses realize the benefits of fixed wireless over DSL and T1 lines, the Canadian sector is growing rapidly and TeraGo is leading that expansion. TeraGo is currently servicing 800 customers in nine major Canadian cities and continues to grow at 30 per cent per quarter.

With a fully funded business plan, TeraGo has secured more than $24 million US from prominent institutional investors and venture capital firms such as Dolphin Equity Partners, Dynamic Ventures Opportunities Fund, Ontario Municipal Employees Retirement System (OMERS) and CIT Group.

About TeraGo Networks Inc.

TeraGo Networks Inc. (www.terago.ca) is a privately held Canadian facilities-based telecommunications provider to businesses and other organizations. Owning and managing its own network, TeraGo Networks uses state-of-the-art broadband technologies for cost-effective, ultra-speed Internet access, Web hosting and e-mail solutions. TeraGo Networks holds 70 frequency licenses in the 24 and 38 GHz bands, which allow the company to operate in British Columbia, Alberta, Manitoba, and Ontario. TeraGo's corporate headquarters are based in Toronto, with operations & IT based in Calgary.

SOURCE TeraGo Networks Inc.