Eagle Broadband Names New CEO Raises Another $10 Million

INTERNET SPACE

League City - Aug 28, 2003
Eagle Broadband, Inc. has appointed Dave Weisman, formerly with ACT Networks and Thomson Enterprise Networks, as chief executive officer and board member. In tandem the company also announced the completion of the previously announced $10 million round of financing led by Aggregate Networks, LLC, a leading provider of broadband infrastructure financing.

Weisman takes over the CEO position from co-founder and current CEO, Dr. H. Dean Cubley, who will assume the role of chief technology officer as well as remain on the board. The changes are expected to become effective within two weeks.

In addition to being responsible for the strategic direction, vision and overall operations of the company, Weisman will focus on leveraging Eagle Broadband�s comprehensive set of broadband and communications businesses to maximize shareholder value by aggressively expanding revenues, driving the company to profitability and accelerating the adoption of the company�s exclusive products and technologies in both domestic and international markets.

"We are very excited that a seasoned executive of Dave�s caliber has agreed to join the company as CEO. His decision is a tremendous endorsement of the Eagle Broadband vision and our unique combination of broadband products, services and technology," said Dr. Cubley.

"Dave's strong focus on serving customers, extensive sales and marketing background and proven senior management and operational skills leading high-growth technology companies, make him the ideal executive to lead Eagle Broadband during this rapid expansion phase and will ensure profitable, long-term growth.

"His proven track record of rapidly increasing revenues, solid relationships and deep industry knowledge in each of Eagle�s lines of business, extensive experience building and growing profitable companies combined with the added expansion capital, ideally positions Eagle to meet the growing demand for our unique broadband products and services."

"I am delighted to be joining Eagle Broadband at this pivotal point in its growth," said Weisman. "The Eagle team has done a terrific job developing exclusive technology and assembling an exceptionally strong group of integrated businesses in many of the highest growth markets.

"Eagle is the only company that I have been able to find offering customers such a comprehensive range of turnkey, bundled broadband and communications products and services for consumers, enterprises, municipalities, developers and government agencies.

"With such an enviable set of assets, Eagle has a great opportunity to capitalize on the considerable demand for broadband, communications and security services and I am committed to helping Eagle fully realize the significant potential the company possesses."

The additional funding will enable the company to aggressively pursue its market and revenue expansion plans, further invest in sales, marketing and customer service programs and staff to drive higher-margin revenues and better serve customers in each of Eagle Broadband�s target enterprises -- residential, hospitality, aviation and government/military markets.

The funding will consist of the purchase of a note and the issuance of Series A Preferred shares, with the terms calling for an initial investment of $3M followed by an additional minimum of $7M within 90 days.

"Dave was hand-picked because of his extensive expertise and proven success in all of Eagle�s businesses and target markets as well as his strong customer and partner relationships," said Rick Kaufmann, principal and co-founder, Aggregate Networks.

"We led this investment due to our confidence in Eagle�s prospects which was bolstered even further when Dave decided to join the company. We are confident that Eagle�s comprehensive broadband products and technology, Dave�s expert management and leadership abilities, Aggregate�s industry contacts and the additional funding, creates an unmatched combination that can better meet customer needs and maximize shareholder value."

INTERNET SPACE

Surrey Satellite To Conduct Rural Broadband Study For UK

Guildford - Aug 11, 2003
The British National Space Centre has awarded Surrey Satellite Technology Limited (SSTL), and Avanti Communications Limited a �100,000 study contract to examine the provision of satellite based broadband services.

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