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Clareen O’Quinn, Investor Relations Laurance Lewis FOR IMMEDIATE RELEASE Eagle Broadband Secures Letter of Intent for New $10 Million Financing Round Funds to be Used to Aggressively Accelerate Market Leadership in High-Growth Broadband Infrastructure and Digital IP Communications Services Markets LEAGUE CITY, TX, AND LISLE, IL — July 1, 2003: Eagle Broadband, Inc. (AMEX:EAG), a leading supplier of broadband products, services and content, and Aggregate Networks, LLC, a leading provider of broadband infrastructure financing, announced today that they have signed a Letter of Intent for a $10 million round of financing targeted to begin within three weeks. The funding will help facilitate Eagle’s aggressive market expansion plans by contributing to working capital requirements and enable strategic investments that should drive high-margin revenue growth, spur new customer acquisition and dramatically increase subscriber rates in each of Eagle Broadband’s target enterprise, residential, hospitality, aviation and government/military markets. Key areas targeted for investment include:
“We are very pleased to be securing this financing in such a challenging investment climate,” said Dr. H. Dean Cubley, chairman and chief executive officer, Eagle Broadband. "Aggregate Networks’ decision to lead this funding round is a tremendous endorsement of the Eagle Broadband team and our unique broadband technology and products and services. We look forward to tapping Aggregate’s extensive network of contacts, management expertise, and resources within Eagle’s target broadband markets to fuel our continued growth and better serve our customers and shareholders.” The expansion financing should increase Eagle’s ability to deliver more robust, higher value broadband communications services to its customers including homeowners wanting a lower cost bundle of super-high-speed Internet access, phone, cable TV and security services; municipalities interested in accelerating economic development by offering more advanced, IP-based communications services to their residents; as well as corporate and government customers needing outsourced security and IT management services. About Eagle Broadband Eagle Broadband, Inc., and its subsidiaries are leading suppliers of broadband products, services and content. Eagle also has extensive "last mile" cable and fiber installation capabilities and provides complete IT business integration and enterprise management solutions to Fortune 1000 companies. As the leading provider of Fiber-to-the-Home (FTTH), Eagle provides residential communities with Bundled Digital Services (BDSSM) packages that include cable-style television over fiber, high-speed broadband Internet connectivity and security monitoring services. The company also markets structured wiring, home automation products, home theater entertainment centers, communication systems and security systems to homebuilders nationwide as well as to its contracted BDS communities. The company is headquartered in League City, Texas, south of Houston, near the NASA Johnson Space Center. Further news updates on Eagle Broadband, its products and services are available at www.eaglebroadband.com, www.broadbandmagic.com, www.atlanticpacific.com, www.etoolz.com and www.ucgi.com. About Aggregate Networks, LLC Aggregate Networks develops and finances broadband networks for municipalities, real estate developers and private companies. The company has in-depth knowledge and experience in financing and planning, as well as unique expertise in providing the broad skill set required to bring market knowledge, relationships, legal, real estate and financial factors together. The company continues to expand their last-mile Fiber-to-the-Home (FTTH) and wireless expertise with each unique project. For more information, please visit their Web site at www.aggregatenetworks.net. Aggregate Networks is currently working with several private and public municipal broadband network projects evaluating and placing financing, including Truckee, Calif. The Truckee-Donner Public Utility District is expected to begin construction for 12,000 FTTH subscribers in the fall of 2003, making it one of the first community-wide FTTH projects delivering IP voice, video, data and security in the country. Forward-looking statements in this release regarding Eagle Broadband, Inc., its subsidiaries and Aggregate Networks, LLC, are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission. Additional Eagle Broadband Contacts: Ronnie Welch Mario “Ike” Iacoviello |
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