Arabian Recab Trading Announces 300% Increase in Revenues.GIG HARBOR, Wash. -- Arabian Recab Trading Co. ("Recab International"), which merged with Reality Wireless Networks, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :RWNW) ("Reality") on July 21, 2005, announced a dramatic increase in revenues for the quarter ending June 30, 2005. Revenues for that quarter were 28,561,072 Saudi Riyal The riyal (Arabic: ريال, ISO 4217 code: SAR) is the currency of Saudi Arabia. It is abbreviated as ر.س or SR. It is presently subdivided into 100 halala (Arabic: هللة). (approximately $7.6 million USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ). This represents an increase of over 300% in revenues from the previous quarter (ending March 31, 2005). In addition, Recab International announced that the months of July and August also saw significant revenue growth. For the two months ended August 31, 2005, Recab International generated 26,615,527 Saudi Riyal (approximately $7.1 million USD). This suggests that Recab International should see an increase of more than 135% in revenues from the June 30 to September 30 quarter. These revenues do not include sales from Recab International's telecommunications business (as announced on September 13) or granite and quarrying business (as announced on September 6). About Reality Wireless Networks, Inc. Reality Wireless Networks, Inc., a publicly-traded Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. , previously offered broadband wireless See wireless broadband. services through hybrid networks In communications, a network made up of equipment from multiple vendors. including fixed wireless, 802.11, and fiber to markets either underserved or not served by DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary and cable modem cable modem Modem used to convert analog data signals to digital form and vise versa, for transmission or receipt over cable television lines, especially for connecting to the Internet. technologies. Reality has shifted focus to seek growth opportunities in the wireless marketplace and related product industries (ir@realitynetworks.com). More information about Reality Wireless Networks, Inc. can be found at www.sec.gov. NOTE: Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks or uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the operating results, performance or financial condition are the company's ability to achieve and manage growth; the company's ability to successfully identify suitable acquisition candidates, complete acquisitions or integrate the acquired business into its operations; the company's ability to attract and retain qualified personnel; the company's ability to secure necessary financing; potential litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. by shareholders and/or former or current advisors against the company; the company's success in securing third-party commitments, production agreements and/or licensing contracts; the company's ability to comply with federal, state and local government regulations and/or unforeseen changes in federal or and government regulation; and the company's ability to develop new services; and other factors discussed in Reality's filings with the Securities and Exchange Commission. For further information, please contact Steve Careaga at 253-853-3632, or send correspondence to 4916 Point Fosdick Dr., Suite 102, Gig Harbor, WA 98335 |
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