Corridor Communications Corporation Signs Letter of Intent To Acquire the Cable Television System Assets of Coast Communications Inc.

Corridor Communication Corporation (OTC Bulletin Board: CORR - News) has entered into a LOI to acquire Coast Communications Inc. Cable TV assets. Coast owns the rights to 25 cable television systems serving communities in Arizona and Nevada, with over 40,000 homes passed. Corridor plans to market its wireless internet services to Coast's existing customer base.

MOUNTAIN VIEW, CA (PRWEB) June 9, 2004 -- Corridor Communication Corporation (OTC Bulletin Board: CORR - News) has entered into a LOI to acquire Coast Communications Inc. Cable TV assets in a deal for cash and stock. Coast owns the rights to 25 cable television systems serving communities in Arizona and Nevada, with over 40,000 homes passed. The systems have an annual recurring revenue stream of $3.1 Million from its current subscriber base. The companies have also agreed to launch Corridors Wireless HotZone system to complement the service in its largest cable systems immediately to enhance its offerings to its users and will continue deployment until all systems are complete with broadband wireless internet.

Corridor plans to market its high-speed Internet data services to Coast's existing customer base. Corridor will also look to expand cable subscriber base by adding broadband services utilizing Coast's existing cable delivery infrastructure.

"We see only an upside in this deal with Coast Communication with its current penetration of only 20 percent. We know that by adding High-Speed Broadband Services we can bring those numbers up. This acquisition will Launch Corridor into new markets that in most cases high-speed broadband service have not been available. Given this fact we feel that both the existing subscriber base and future subscribers will embrace the combined services offered by the company," said J. Michael Heil, Chief Executive Officer of the Company.

Scott Mac Caughern, Chairman of Corridor Communications Corporation stated, "The Coast Cable asset will enhance our core competencies in servicing our existing customer base with bundled services of High-Speed Internet Access, Cable Television Programming, and Voice Products. In addition, we get the benefit of a company with zero debt and liabilities, a solid recurring revenue foundation and an excellent infrastructure that will further enable Corridor to execute on our strategic growth plan."

About Corridor Communications
Headquartered in Mountain View, California with Operations in Salem, Oregon, Corridor Communications, Inc. is an integrated wireless Internet service provider (WISP) offering high-speed Internet and data services, to residents and businesses. The Company plans to implement a growth-through- acquisition strategy by targeting small to mid size Dial Up Internet Service Providers (ISP) in areas underserved by current broadband options. The growth strategy will also focus on creating partnerships with existing hot spot management companies while building company owned hotspots to create ubiquitous coverage or "Hot Zones" that encompass entire cities.

Corridor's IP-Based technology supports all hardware meeting Wi-Fi 802.11(x) standards operating in an unlicensed spread spectrums (2.4 GHz and 5.7 GHz), and can be deployed far less expensively than comparable copper and cable technologies. The company also plans to leverage its network build out for other services that may include voice and video. For more information about Corridor Communications, please visit the Company's web site at http://www.corridorcommunications.com

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. Our forward-looking statements are based on currently available information which management has assessed but which is dynamic and subject to rapid and even abrupt change due to risks and uncertainties that affect our business, including the unpredictability of future revenues and limited visibility into future demand on which to base our forecasts; the current uncertainty in our marketplace which may impact expected demand, customer selection criteria and sales cycle; our ability to execute on product deliverables and major customer contracts, slower economic growth generally, slower adoption of broadband technology, or cutbacks in information technology spending; and factors beyond our control such as power outages or work stoppages at key customers.

Contact: Scott Mac Caughern of Corridor Communications Corp., +1-650-961-5707, or smac@speedpalcom.

Source: Corridor Communication Corporation