Speedus Subsidiary NetfreeUs Files FCC Application for Free Nationwide Wireless Public Broadband Service

NEW YORK, March 5 /PRNewswire-FirstCall/ -- NetfreeUs, LLC, a wholly owned subsidiary of Speedus Corp. (NASDAQ:SPDE), has asked the FCC for authority to manage a new nationwide Wireless Public Broadband (WPB) network in the 2155- 2175 MHz frequency band. Like viewers of free over-the-air television and radio, consumers of NetfreeUS' Wireless Public Broadband ("WPB") service will never incur monthly fees.

NetfreeUS will coordinate third-party lessees who would own and operate wireless access points ("WAPs"). Initially, no lessee would be authorized to operate more than fifty (50) WAPs.

WPB will promote localism and the provision of advertising and public service messages targeted to local interests and communities, as well as local business and economic development, through ubiquitous coverage provided by small-footprint networks.  In addition, user-designated advertising would permit local customization of advertising messages to inform users about products and services of interest in the community.

Shant Hovnanian, Chairman and CEO of Speedus, said "Our proposal has tremendous potential to restore the Internet to the public as a free service. Consumers will benefit even more by having the power to determine the advertising and public service messages they receive.  By using local entrepreneurs and municipalities to provide the service, the NetfreeUS system will make broadband available to rural and underserved areas, will stimulate competition and will assist first responders.  We look forward to working with the FCC on this unique opportunity."

About Speedus Corp.

Speedus is a pioneer in wireless broadband, owning both wireless spectrum and a portfolio of broadband IP. Speedus also holds controlling interests in Zargis Medical Corp. and F&B Güdtfood Holdings, Inc.

Additional information on Speedus Corp. and its services may be obtained at www.speedus.com or by contacting Peter Hodge at 888-773-3669 (ext. 23) or phodge@speedus.com.

Statements contained herein that are not historical facts, including but not limited to statements about the Company's product, corporate identity and focus, may be forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward- looking statements made by the Company, including, but not limited to, the continuing development of the Company's sales, marketing and support efforts.

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Source: Speedus Corp.

Contact:  Peter Hodge for Speedus Corp., +1-888-773-3669 ext. 23, or
phodge@speedus.com

Web site:  http://www.speedus.com/

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