GigaBeam Corporation Signs Agreement With Rudin Management to Deploy 'Virtual' Fiber High Speed Links In Manhattan

GigaBeam Corporation Signs Agreement With Rudin Management to Deploy 'Virtual' Fiber High Speed Links In Manhattan

Breakthrough technology to link New York enterprises, carriers and Government agencies through The Hub at 32 Sixth Avenue

The Hub at 32 Sixth will be established as a Point-of-Presence (POP)

HERNDON, Va., Nov. 30 /PRNewswire-FirstCall/ -- GigaBeam Corporation has signed an agreement with Rudin Management Company and The Hub at 32 Sixth for the deployment of ultra high speed "virtual fiber" communication links in and throughout the New York metropolitan region on behalf of enterprises, carriers and government.

The Hub at 32 Sixth is a premier carrier-neutral, co-location and interconnection facility with a robust and growing number of communications providers. The Hub was established in 2000 in the 1.15 million-square-foot building purchased from AT&T by The Rudin Family in 1999. Rudin is one of the largest privately owned real estate companies in New York City with 40 buildings owned and under management. The Hub provides a wealth of opportunities for communications service providers seeking to establish new business opportunities or expand their penetration into the New York market.

Lou Slaughter, Chairman and CEO of GigaBeam, stated, "The Hub is an ideal Point-of-Presence for GigaBeam's ultra high speed communication links, enabling access for a variety of telecommunications carriers and other service providers, government agencies and enterprise users." GigaBeam's ultra high speed links will be deployed to create a totally independent wireless Metropolitan Area Network (MAN) above the island of Manhattan as an alternative to the in-ground fiber MAN, he said.

"GigaBeam's technology will enable true alternative access, which previously was unavailable from the existing terrestrial fiber services. This problem was highlighted in a report by the Lower Manhattan Telecom User's Working Group following the network outages caused by 9/11," said John Gilbert, Rudin Management's Executive Vice President and COO. "Also, our tenants and others will be able to use GigaBeam's virtual fiber wireless links for reliable connectivity at beyond broadband speeds."

The Lower Manhattan Telecom User's Working Group, chaired by Gilbert, was formed by the Downtown Alliance, the Association for a Better New York and The Real Estate Board of New York to address the shortcomings, problems and re- design opportunities of Manhattan's existing telecommunication infrastructure realized following the attack on the World Trade Center.

GigaBeam's technology is a point-to-point wireless system that uses very high radio frequency at 71-76 GHz and 81-86 GHz to transmit at multi-gigabit- per-second speed. One gigabit-per-second is the equivalent of 647 T1 lines or 1,000 DSL connections. This portion of the radio frequency spectrum recently was authorized by the Federal Communications Commission for wireless point-to- point commercial use. Use of these frequency bands was pioneered by GigaBeam's founders.

GigaBeam's technology, coupled with the large blocks of recently authorized contiguous spectrum, enable multi gigabit-per-second wireless communications utilizing Gigabit Ethernet protocols, which is the evolving standard for switches and routers available from large telecommunication equipment manufacturers. The current speed achieved by GigaBeam's technology is one Gigabit-per-second. GigaBeam will be deploying products next year capable of 10 Gigabits-per-second, which is the 10 Gigabit Ethernet protocol standard, according to Slaughter.

GigaBeam's technology is similar to terrestrial fiber in terms of speed and reliability for deployment in Metropolitan Area Networks (MANs), Slaughter said. However, it has a substantial advantage over terrestrial fiber because it costs less to deploy, resulting in a lower cost of ownership, and the company's virtual fiber links can be deployed in a day, he said. Terrestrial fiber can take many months, even a year, to deploy and also require significant regulatory and environmental approvals prior to deployment.

About GigaBeam Corporation

GigaBeam Corporation designs, develops, sells and provides services for wireless point-to-point high speed communications links that operate in the 71-76 GHz and 81-86 GHz radio spectrum bands. The equipment operates at multi-gigabit-per-second speeds. GigaBeam Corporation headquarters office is located at 470 Springpark place, Suite 900, Herndon VA 20170. For more information, visit http://www.gigabeam.com/.

About The Hub at 32 Sixth

Located on the 24th floor of the Avenue of the Americas building, The Hub is a true carrier-neutral, co-location and interconnection facility that services the enterprise and telecommunications services industries. For more information about The Hub visit http://www.thehubat32sixth.com/ or contact Julia Di Dominicus at 212-407-2758.

About Rudin Management Company

Rudin Management Company, Inc. is a dynamic, full service real estate organization serving the interests of the Rudin Family, which owns and manages one of the largest private property portfolios in New York City. Among its commercial real estate holdings are 16 office buildings containing approximately 10 million square feet of space. For more information about Rudin Management Company visit http://www.rudin.com/.

Safe Harbor Statement

Statements in this press release regarding GigaBeam's products, services, capabilities, performance, opportunities, development and business outlook that are forward-looking involve and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond GigaBeam's control and difficult to predict, and could cause actual results to differ materially from those anticipated, expressed or forecasted in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing GigaBeam's products and services, ability to manufacture and deploy GigaBeam's products, lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, availability of raw materials, subassemblies and components, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the telecommunications industry and the global economy, intense competition in the telecommunications equipment industry and resulting impact on pricing and general financial performance, compliance with federal and state regulatory requirements, timing, availability and success of new technology and product introductions and the other factors discussed in GigaBeam's filings with the Securities and Exchange Commission.


Source: GigaBeam Corporation

CONTACT: Michelle Manoff of Rubenstein Public Relations,
+1-212-843-8051, mmanoff@rubensteinpr.com, for GigaBeam Corporation; or Lou
Slaughter of GigaBeam Corporation, +1-703-378-0099,
lou.slaughter@GigaBeam.com

Web site: http://www.gigabeam.com/
http://www.thehubat32sixth.com/
http://www.rudin.com/


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