Ricochet Launches In Denver - Partnership with City of Denver

Denver, August 15, 2002 -Ricochet Networks, Inc. (RNI) has re-launched the Ricochet® high-speed wire-free Internet service to consumers today in Denver. As part of a public/private partnership with the city and county of Denver, RNI has given the city modems and service in exchange for the opportunity to jointly develop and deploy Ricochet-based municipal and public safety applications. The service is now available to consumers and businesses throughout Denver for $44.95 per month -- even in neighborhoods where high-speed access is not available via local phone or cable companies.

Denver's Mayor Wellington E. Webb said, "We're proud that Denver is the first city in the nation to re-launch the Ricochet service for consumers. We've been testing it since February and we feel it's a communications tool that holds great potential for the city. This next year will enable us to test out applications like high-speed access in police patrol cars or the fire department can pull up site plans en route to a fire, paramedics can access health records and emergency room availability while they're responding to an accident."

Ricochet is the fastest mobile wireless data network in the world with typical speeds of 176 kbps and higher. The network has the potential to allow public safety workers to download large files such as mug shots, photographs, building plans and geographical information system data, live.

"We're excited to have this opportunity to help our community with a service that has the potential for police, firefighters and other public servants to do their jobs more efficiently and effectively. The partnership also allows us to learn more about how we can develop public safety applications and products," said RNI president and chief executive officer, Morton C. Aaronson. "Our partnership with the city and county of Denver is the model of a new sustainable business plan for the Ricochet network, one that we are working to extend to other cities around the country."

Ricochet allows consumers and businesses to connect to the Internet or private networks from anywhere within the Ricochet coverage area. A special modem must be purchased to run Ricochet and retails for $99.95. Modems can be purchased from local distributors, retailers and independent sales agents or ordered online at www.ricochet.com or by phone at 1-888-RICOCHET.

"Denver has limited broadband coverage from other services like DSL and cable," added Aaronson. "I should know -- I can't get either in my neighborhood. Now Ricochet provides affordable high-speed Internet access where there aren't any alternatives."

Under previous ownership, the Ricochet network had been built in 21 cities and had more than 51,000 subscribers. Shut down last August, the Ricochet intellectual property and certain assets were acquired by RNI in November 2001. RNI is currently in active negotiations with municipalities, private landlords and resellers to reactivate the network and sell the service in other U.S. cities following the Denver launch.

About Ricochet Networks, Inc.
Ricochet Networks, Inc. is a wholly owned subsidiary of Aerie Networks, a privately held broadband services company backed by VantagePoint Venture Partners and based in Denver, Colorado. RNI designs, builds and operates the Ricochet® high-speed wire-free Internet network, a unique patented wireless data communications network that is affordable, easy to access and use. RNI is actively seeking public/private partnerships with communities and local government to help turn the Ricochet network back on where it once existed and to install new networks in areas where affordable, broadband access is currently unavailable. For more information, please visit the website at www.ricochet.com.

For more information: www.ricochet.net