BGOC Joint Venture Obtains Funding for High-Speed Wireless Internet Networks in 3 Cities.

Business Editors

CISCO, Texas--(BUSINESS WIRE)--Feb. 1, 2000

Black Giant Oil Company (OTC BB: BGOC) is pleased to confirm that the previously announced agreement with Getmore TelCom LLC, Oklahoma City, Oklahoma, for a revenue sharing joint venture for the funding, installation and operation of High Speed Wireless Internet Networks, negotiated on behalf of BGOC by BroadCom Wireless Communications Corporation, has been successfully activated.

BroadCom Wireless Communications Corporation, also of Oklahoma City, has finalized funding agreements with a private investor group formed for the specific purpose of capitalizing the first three (3) cities to implement the Wireless Internet project previously announced between Getmore and BGOC. Initial disbursements of funds were made on this date to the Joint Venture from the investor group, which will be utilized for the purchase of antennas, transmitters and related wireless internet equipment.

The installation of the High-Speed Wireless Internet Networks will be managed by Mike Erhart, named recently by Getmore TelCom LLC as its Chief Technology Officer. Mr. Erhart, a 20 year veteran in the fields of computing and telecommunications, was the founder and creator of OneNet, the first intrastate Internet Network installed in the State of Oklahoma. As the former Director of Telecommunications and Computing Services and Chief Technology Officer for the Oklahoma State Regents for Higher Education, he was responsible for the design and implementation of OneNet, the State of Oklahoma's official telecommunications network. OneNet provides video conferencing services, distance learning applications, data communications and applications to hundreds of school districts, state agencies, cities and counties, the state's court system, and federal agencies. Erhart holds high level professional and technical certifications from Cisco Systems (NASDAQ:CSCO).

The three (3) cities which are to receive the installations have been selected but will be announced at a subsequent date. The investor group has also been granted contractual rights to fund the High-Speed Wireless Internet Networks in up to seven (7) cities.

As previously announced, BGOC management confirms that the name of the company will be changed to BroadBand Wireless Communications Corporation at its next shareholder meeting, the date for which will be announced shortly. For more information on BGOC, please contact Ivan Webb at [phone] or Justin Ellis at [phone].

This document includes forward-looking statements, made under the Safe Harbors provision of the Private Securities Litigation Reform Act of 1995. Such forward- looking statements are generally identifiable by the use of the words such as &uot;believe,&uot; &uot;expect,&uot; &uot;intend,&uot; and other words of a similar nature. These statements are based on management's current expectations, estimates and projections that are subject to risks and uncertainties, including, but not limited to success of negotiations, availability of financing, political currency, regulatory, competitive and technological developments. Consequently, actual results could differ materially from those forward-looking statements. Black Giant Oil Company does not undertake, and specifically disclaims any obligation to update any forward-looking statements which speak only as of the date made.