Floware Now Selected by Two of Spain's Major Broadband Wireless Carriers
Or Yehuda, Israel, January 23, 2001 Floware Wireless Systems Ltd. (NASDAQ: FLRE), a leading provider of broadband wireless access (BWA) communication systems, announced today that the Abrared Consortium of Spain has selected Floware's WALKair system for its wireless network rollout throughout Spain. The selection by Abrared has resulted in purchase orders for Floware's WALKair system of approximately $3.7 million, of which about half have already been delivered. Following this selection, Floware is now the supplier of BWA systems to two major carriers in Spain.
In March 2000, the Spanish Government awarded fixed wireless licenses to six carriers for nationwide deployment, three in the 3.5GHz frequency band and three in the 26GHz band. The Abrared Consortium won a 3.5GHz band license to provide fixed local wireless access.
Abrared plans to deploy a nationwide wireless infrastructure throughout Spain and provide services to businesses and users in 55 cities and districts during its first year of operation, leading to 111 cities during the second year. The Abrared Consortium consists of Iberdola, the second largest electrical power company in Spain; Formus Communications Ibérica S.A., a leading global high-speed broadband services company; Merlin Servicios Portadores, stakeholder of the Spanish cable telecommunication company ONO; Bancaja and Caja Galicia, two major savings banks, and Grupo Corporativo Fuertes, an industrial group.
In announcing Abrared's selection, Amnon Yacoby, CEO of Floware said, "We are very pleased to be chosen by another large new carrier in Spain. Spain, as one of the top five European countries in terms of population, is expected to quickly become a large market of fixed wireless systems. Abrared's decision to use our WALKair system reinforces our significant presence in the Spanish market." About Abrared
The Abrared Consortium consists of Iberdola, the second largest electrical power company in Spain; Formus Communications Ibérica S.A., a leading global high-speed broadband services company; Merlin Servicios Portadores, stakeholder of the Spanish cable telecommunication company ONO; Bancaja and Caja Galicia, two major savings banks, and Grupo Corporativo Fuertes, an industrial group. Abrared is focused on providing high-speed broadband Internet connectivity to telecommunications carriers. Abrared's wireless technology will help to overcome the existing local loop bottleneck in Spain and will allow telecommunications operators to offer Internet access and services to business customers.
Floware Wireless Systems Ltd. is a leading provider of point-to-multipoint fixed broadband wireless access (BWA) systems. These systems are used mainly by new carriers (CLECs) which connect business customers in the "last mile." Floware's WALKair system enables carriers to provide high-speed Internet access, as well as a wide range of voice and data services, on the 3.5, 10.5 and 26 GHz radio frequency bands. Floware currently has more than 50 deployments worldwide.
This press release and statements by Floware in shareholder reports and public filings, as well as in oral public statements by Floware´s representatives may contain forward looking statements. Such statements are subjected to certain facts, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to in such statements. The risks are identified in Floware´s registration statement on Form F-1 (Registration Statement No. 333-12290) filed with the Securities and Exchange Commission.
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