TeraGo Networks Acquires WorldWithoutWire

TeraGo Networks Acquires WorldWithoutWire

Acquisition solidifies TeraGo's position as the largest fixed wireless broadband company in North America

TORONTO, Dec. 15 /PRNewswire/ -- TeraGo Networks Inc., North America's largest fixed wireless broadband company, today announces the acquisition of WorldWithoutWire in an all-cash transaction. As the largest regional carrier in southwestern Ontario, WorldWithoutWire expands the TeraGo network to include Kitchener-Waterloo and the surrounding region, and further solidifies TeraGo's leadership in Canada.

"In our four years meeting the needs of Canadian businesses, we have grown organically to 16 cities," said Bryan Boyd, president and CEO of TeraGo Networks. "With the acquisition of WorldWithoutWire, we are gaining seven more cities in one of the most densely populated business areas in Canada. Businesses throughout the Golden Horseshoe area will now have more choice. We will provide WorldWithoutWire customers with an expanded service offering, a higher capacity backbone network and improved service delivery."

In 2004, TeraGo has doubled their customer base and expanded to new Canadian markets bringing the company's reach to 16 cities in four provinces. With this acquisition TeraGo is well-positioned for greater customer growth and geographic expansion in 2005.

"TeraGo has had four years of sequential revenue growth, including over 50% in the last year. We've raised over $10 million in debt and equity to fuel the growth and maintain a fully-funded business plan" said Gerry O'Reilly, CFO of TeraGo Networks.

About TeraGo Networks Inc.

TeraGo Networks Inc. (www.terago.ca) is Canada's leading fixed wireless broadband provider to businesses and other organizations. Owning and managing its own network, TeraGo Networks uses state-of-the-art broadband technologies for cost-effective, high performance Internet access, data services, Web hosting and e-mail solutions. TeraGo first launched service in Calgary in 2000 and currently operates in British Columbia, Alberta, Manitoba, and Ontario. TeraGo's corporate headquarters are based in Toronto, with operations & IT based in Calgary.

This news release includes statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees.


Source: TeraGo Networks Inc.

CONTACT: Cathy-Anne O'Brien, BlueSky Communications, (416) 691-5206,
cobrien@yourbluesky.com or Julie O'Brien, (416) 691-6657,
jobrien@yourbluesky.com


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