DigitalBridge Communications Acquires Teton Wireless and Montana Wireless

DigitalBridge Communications Corp. (DBC), a provider of broadband service to underserved communities, announced today that it has raised over $11 million in Series A venture financing and $6.25 million in debt from Comerica Bank. The round was co-led by Washington, D.C.-area funds RedShift Ventures, CNF Investments, and Novak Biddle Venture Partners, and it included prominent local investors Frank Bonsal and Bill Melton. DBC concurrently closed its acquisition of Teton Wireless and Montana Wireless, providers of wireless cable and Internet services in Idaho and Montana. DBC will enhance the service offerings in these markets by adding higher speed data services and expanding current service areas to include additional communities in the Intermountain West, Midwest and Southeast.

Founded by Kelley Dunne, Bill Wallace, and Joe Kochan in late 2005, DBC delivers broadband service to underserved communities nationally using new WiMAX technology. WiMAX, an established international standard for wireless telecommunications, uses licensed frequencies of radio spectrum to deliver high-bandwidth data services capable of self-installation by end users at distances up to 2 miles. With WiMAX, DBC subscribers will be able to set up service on their own within a matter of minutes and use their portable service inside or outside their homes and offices. WiMAX stands for Worldwide Interoperability for Microwave Access and is governed by the WiMAX Forum, formed in June 2001 to promote conformance and interoperability of the IEEE 802.16 standard. The Forum describes WiMAX as "a standards-based technology enabling the delivery of last mile wireless broadband access as an alternative to cable and DSL."

"WiMAX allows us to bring broadband services to many smaller communities that were previously too costly to serve with older technologies," said Kelley Dunne, CEO. He continued, "We are now able to offer the educational and economic opportunities provided by true broadband connectivity to many people who have had limited options for high speed Internet service."

"DigitalBridge Communications has developed a highly scalable network deployment and back office platform that will enable the company to take advantage of WiMAX economics," said Rich Harris, DBC board member and managing general partner of RedShift Ventures. "RedShift is excited to join such well- regarded venture firms as CNF Investments and Novak Biddle Venture Partners, as well as this proven and experienced management team, in helping the company be an enabler for this new WiMAX technology and bring broadband to communities nationwide."

Joining the DBC board of directors are Tom Scholl, Novak Biddle Venture Partners, Rich Harris, RedShift Ventures, and Joe Del Guercio, CNF Investments.

Additional questions can be directed to Joe Kochan at [email protected] or (703) 723 6273.

About DigitalBridge Communications

DigitalBridge Communications Corp. ("DBC") is a telecommunications service provider focused on using new technology, including WiMAX, to deliver broadband services to underserved communities nationwide. The company was founded in late 2005 and currently has about 20,000 video and data subscribers in Montana and Idaho through its acquisition of Teton Wireless and Montana Wireless. For more information about DBC, please visit http://www.digitalbridgecommunications.com.

About RedShift Ventures

RedShift Ventures is an early and expansion stage focused venture capital firm managing approximately $270 million from limited partners worldwide. For more than a decade, RedShift Ventures has been investing in companies that leverage a broad range of advanced technologies to provide compelling solutions for diverse, rapidly growing markets. The firm relies on its deep operational understanding to build lasting value and its comprehensive network within national research centers to gain unique access to ground breaking technologies. RedShift Ventures is a trusted partner of entrepreneurs and limited partners worldwide and has developed strong co-investment relationships with other top venture capital firms and industry leaders. For more information, please visit http://www.redshiftventures.com.

About CNF Investments

CNF Investments is the private equity and venture capital arm of Clark Enterprises, Inc. (CEI). CEI is a diversified financial and investment company with significant holdings in construction, real estate and private equity. CEI is the parent company of Clark Construction, one of the largest general contractors in the country. CNF Investments manages over $125 million on behalf of CEI and is an active investor in the biotechnology and medical device, technology, and telecommunications industries. For more information, please visit http://www.cnfinvestments.com.

About Novak Biddle Venture Partners

Novak Biddle Venture Partners is a leading early stage venture capital firm focused on unique, cutting-edge technology investments in the Eastern United States, as well as targeted opportunities nationwide. With $580 million under management, Novak Biddle operates five venture funds that currently provide equity financing and management assistance to 42 portfolio companies. Novak Biddle continues to seek business situations where the combination of ideas, dollars, experience, and relationships can create long term, sustainable value. A sampling of companies funded by Novak Biddle include: RFID first-mover Matrics, voice over IP trailblazer Telogy, education technology leader Blackboard Inc. and intelligent video surveillance pioneer ObjectVideo. For more information, visit http://www.novakbiddle.com