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Thursday, February 10, 2011

KeyOn and WREC offering up to 8MB/s throughout Nevada

KeyOn Communications Holdings, Inc, one of the largest providers of wireless broadband, satellite video and Voice over Internet Protocol (VoIP) services in the United States, announced it has completed its acquisition of substantially all of the wireless broadband assets of Wells Rural Electric Company (WREC).KeyOn offers broadband services with VoIP and satellite video services to both residential and business subscribers across 12 Western and Midwestern states.

The WREC acquisition has strategic importance to KeyOn as the network footprint covers markets such as Wells and West Wendover, Nevada. The network serving these communities will interconnect with KeyOn's planned network in rural Nevada funded by the American Recovery and Reinvestment Act's stimulus program. In September 2010, KeyOn received a $10.2 million stimulus award to provide 4G, last-mile wireless broadband access and VoIP services to approximately 93,000 people, 5,522 businesses and 849 critical community facilities throughout Nevada.

Jonathan Snyder, KeyOn's President and Chief Executive Officer, stated, "The purchase of the wireless broadband business from Wells Rural Electric Company adds a well architected network with robust capacity and a stable subscriber base. As a result of our planned stimulus-funded network construction, the residents of the areas covered by WREC will be able to access up to 8 MB/s speeds with our 4G wireless network and these communities will benefit from job opportunities and economic development."

WREC represents the eighth acquisition of network assets and subscribers since the inception of Rural UniFi in the fourth quarter of 2009 and is the Company's twelfth acquisition overall. It is expected that this transaction will add positive operating cash flow in its first month of operations under KeyOn's ownership because of its assimilation into KeyOn's centralized network and customer operations center.

Rural UniFi is a strategic acquisition initiative designed for independent wireless broadband companies to realize immediate value from their networks by being acquired by or merging with KeyOn. Interested wireless broadband operators can visit KeyOn's unique initiative through the company's website (www.keyon.com/ruralunifi.html) where they can receive more information and begin the qualification process.

Through a combination of organic growth and acquisitions, KeyOn has expanded its network footprint to reach approximately 55,000 square miles and cover over 2,800,000 people, as well as small-to-medium businesses. With its successful track record of acquiring companies through its Rural UniFi initiative and growth of its overall subscriber base, KeyOn is one of the leading wireless broadband companies in the United States.

Management intends to drive subscriber growth through additional acquisitions as well as organic growth across the company's expanding footprint by offering bundled services including broadband, video, VoIP and related valuable services such as the Bullseye Club. The company also intends to opportunistically build mobile and/or nomadic WiMAX networks in and around its market footprint.

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