WiMAX News from Russia

Russian Broadband Wireless Access Vendor to Expand R&D for IP-Based WiMAX Solutions for Global Markets

Moscow, Russia, July 27, 2005 - InfiNet Wireless announced that the company has signed an investment deal with Baring Vostok, Intel Capital, and Boston-based investment fund Russia Now. After closing, the funds will be used for R&D work on IP-based WiMAX solutions, as well as to fund regional and worldwide sales and marketing expansion programs.

In addition to the company’s financial contribution to the recent funding round, Intel has signed a business agreement with InfiNet Wireless. The contract outlines the collaboration of Intel and InfiNet Wireless in the areas of 802.16 WiMAX technology development, public relations support and joint marketing initiatives in the Russian and CIS markets.

"InfiNet Wireless’ vision of broadband wireless networks everywhere is consistent with how Intel sees growth in this field," said Dmitri Konash, Intel Russia Sales and Marketing Group. "Their commitment to developing and building products based on the Intel 802.16-2004 roadmap will help expand the use of WiMAX in Russia and around the globe."

InfiNet Wireless designs, manufactures and markets scalable, robust, and cost-effective fixed broadband wireless access solutions for carrier-class networks around the world. The company’s wireless routing equipment is designed to implement and expand carrier-class networks for high-speed Internet access, enterprise campus networks, virtual private networks (VPNs), primary links for the Last Mile and backhauling traffic between cell towers and multiple access points.

“More than 300 large carrier networks across the world have been built with InfiNet's proven technology,” said Robert Stubblebine, CEO of InfiNet Wireless.  "Working with Intel Capital and Baring Vostok provides the funds that may help InfiNet Wireless’ growth and facilitate the introduction of new IP-based WiMAX systems to global emerging markets.

"Baring Vostok Capital Partners is pleased to be working with InfiNet Wireless to quicken the pace of wireless voice and data communications in Russia and other emerging markets," said Stanislav Fedulov, PR director of BVCP. "We have a successful track record with one of InfiNet's sister companies, Yandex, with whom we invested in over five years ago. We expect similar growth rates to be accomplished by InfiNet Wireless as they achieve a leadership position in the new WiMAX era."