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NextPhase and GigaBeam to Develop Joint Venture Partnership

The JV will provide for NextPhase and GigaBeam to collaborate on building a 70 GHz and 80 GHz wireless network in Los Angeles and Orange counties in Southern California. The network will utilize GigaBeam's WiFiber links which, in tandem with other GigaBeam wireless technologies, will enable NextPhase to offer its customers in that region business class connectivity services at broadband speeds up to 1 Gbps.

The WiFiber component of the network is expected to be the transport element, providing for greater resiliency, flexibility and scalability to support existing NextPhase customers, as well as the expansion of its customer base in both number of end users and increased capacity per user. Upon successful roll-out of the new wireless broadband network across Los Angeles and Orange counties, the Companies hope to replicate the network and associated service offerings in other regions throughout NextPhase's expanding national footprint.

Tom Hemingway, Chairman and COO of NextPhase, stated, "We are excited about the potential benefits that this new relationship could produce for both NextPhase and GigaBeam. It is very timely because we are finding that both enterprise and municipal users are demanding significant network capacity and much faster wireless broadband connectivity to support their remote office locations and work forces, web-enabled business functions and increasing number of digital applications. Moreover, costs typically associated with deploying traditional high capacity local and wide area networks utilizing terrestrial fiber are in many cases prohibitive. As a consequence, productivity levels and workflow processes can be compromised -- especially in instances where speed, access and bandwidth requirement are mission critical."

"Our new business relationship with GigaBeam has been evolving quickly, due largely to our mounting appreciation for their innovative WiFiber solution, coupled with the pace at which the U.S. demand for wireless service is growing," continued Hemingway. "With GigaBeam, NextPhase is empowered to materially change the competitive playing field in those markets we serve -- providing us with a greatly enhanced wireless broadband service offering that few, if any, can match when combining price, deployment speed and capacity considerations. Consequently, it was a natural next step for us to begin exploring creative ways for NextPhase and GigaBeam to formally partner so that we may each benefit from prevailing opportunities being fueled by rising enterprise and government demand for high end, high capacity broadband connectivity and Internet access."

Louis Slaughter, Chairman and CEO of GigaBeam, stated, "The management teams of our respective companies are fully in sync on the potential for our disruptive technology to enable the creation of next generation metro Ethernet carriers. NextPhase has an aggressive plan for expansion across the country which includes strategic acquisitions of Internet Service Providers and other types of telecommunication carriers. I believe that our expertise, technology and products can be an important strategic component of their plans for expansion by enabling NextPhase to strengthen its overall value proposition to customers located throughout its national footprint. In addition, the MOU contemplates that GigaBeam is to receive a share of revenue from the venture which continues to be a very important goal of our Company. Based upon NextPhase's expansion plans, this recurring revenue could be significant for GigaBeam which could add considerable long term value to our Company."

"Even though there has been acceptance of our technology in the metro Ethernet market," continued Slaughter. "I believe that the management of NextPhase has a profound appreciation for the power of our WiFiber product solution, and its ability to empower NextPhase to build out metro networks across cities and metro areas for up to 1/50th of the cost of deploying terrestrial fiber, while also having the ability to rapidly install, redeploy and scale capacity to match customer demand. Just as important, NextPhase will be able to build out networks which will not depend on buying wholesale capacity from the local incumbent telecom carriers. Instead, they will be able to bypass the incumbent carriers' local loop in any of the cities in which they operate and connect directly to points-of-presence with facilities provided by multiple independent cross country carriers. In short, all NextPhase needs in any city in which it operates is a point-of-presence and our technology, and they can be totally emancipated from having to deal with the incumbent local exchange carrier."

About GigaBeam Corporation

GigaBeam's WiFiber® product ushers in a new era of communications by allowing customers to bypass the restrictive telecom oligopoly and connect directly to any city's fiber optics hub or Point-of-Presence (POP). The disruptive impact of an easily deployable, low cost alternative to fiber optics cables is difficult to overestimate, especially since WiFiber's point-to-point high-speed units transmit data via the highest approved radio frequency at speeds equal to 641 T1 lines or 1000 DSL lines.

Current GigaBeam partners, customers and end users include Google, Verizon, ING, Sprint, and the Department of Defense, as well as several cities and universities, including San Francisco and Boston University. The Company has implemented strategy to expand into major metropolitan areas around the world.

GigaBeam's management team, which pioneered rule making in the 70GHz and 80GHz spectrum, is fully committed to augmenting current revenues through a network of authorized dealers and resellers across North America, South America, Europe, Africa, the Middle East, India and Asia that have local expertise and established contacts. GigaBeam is a company with market disruptive wireless technology, a pioneering management team and a worldwide network dedicated to penetrating major metropolitan markets around the globe. To learn more about GigaBeam's revolutionary wireless technology, please visit www.gigabeam.com/.

About NextPhase Wireless, Inc.

With a mission to build a device-agnostic, WiMAX-ready, wireless broadband connectivity/content delivery platform serving all 48 contiguous U.S. states, NextPhase Wireless, Inc. is focused on delivering integrated Internet, voice, video and managed services to its fast growing customer and client base which currently numbers more than 10,000. Engaged in designing, deploying and operating its own WiMAX-ready wireless networks and providing advanced wireless technology solutions to both businesses and municipalities, the Company is currently providing wireless broadband coverage in California and Nevada and Internet Service Provider (ISP) coverage in 19 states throughout the country. For more information, please visit www.npwireless.com, www.speedfactory.com and www.jersey.net.

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.