Private Equity Solutions

Wireless Frontier Internet Announces Closing of Equity Offering

FORT STOCKTON, Texas--(BUSINESS WIRE)--July 28, 2004--Wireless Frontier Internet Inc. (Pink Sheets:WFRI), an industry-leading provider of wireless broadband Internet access for rural-based home and business consumers, announced an initial closing of a private placement offering of equity units. The gross proceeds of this initial closing were $1,580,000 for the sale of 10,533,333 units at $.15 per unit. A unit consists of one share of the Company's common stock and a warrant to purchase 0.50 shares of the Company's common stock at $.15 per share. The Company is working with a placement agent who may raise up to $5 million.
The Units have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

In connection with the private placement, the Company has agreed, subject to certain terms and conditions, to file a registration statement under the Securities Act to cover the resale of the shares underlying the Units.

This press release is issued pursuant to Rule 135c under the Securities Act and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

Founded in 1998, Wireless Frontier Internet is a leader in wireless broadband deployment. The Company currently services over 130 cities in Texas and Kansas, and is expanding nationally in rural America. Wireless Frontier can be contacted at 432-336-0336 or by visiting our Web site at www.wirelessfrontier.net.

Notes About Forward-Looking Statements

Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment.

We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risks and uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements.

Contacts


Wireless Frontier Internet Inc., Fort Stockton
Jaime Velasco, 432-336-0336
ir@wirelessfrontier.net

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