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Clearworks Completes Acquisition of Link 2 Communications; Wireless Offerings to Provide Broadband Access to Retrofit Market for Bundled Digital Services.


Business Editors/High Tech Writers

HOUSTON--(BUSINESS WIRE)--Sept. 19, 2000

ClearWorks.net (AMEX AMEX

See: American Stock Exchange
:CLW CLW Council for a Livable World
CLW Cloud Liquid Water
CLW Chittaranjan Locomotive Works (India)
CLW Child-Led Weaning
CLW Crystal Lake Wizards (youth wrestling club, Crystal Lake, Ilinois) 
) announced today that it has completed its acquisition of Link 2 Communications, Inc. Link 2 is a provider of two-way high-speed wireless services including wireless broadband High-speed wireless transmission of data. What is "high" speed is always a changing number. Wireless systems are typically slower than land-based, wireline networks. In the past, wireless broadband started at 250 Kbps, whereas land-based broadband was generally considered to start at T1  access. The acquisition of Link 2 will provide new expansion opportunities, primarily in the retrofit marketplace where rebuilding the last mile is cost prohibitive. New revenues are anticipated from the acquisition, which are expected to top $10 million in the initial twelve months of operations. Wireless broadband services are growing in strength in the marketplace as an alternative to reach customers where building new fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber  is not an option. The existing wireless network currently in operation will be evaluated for communities in which to deliver immediate broadband services.

ClearWorks.net is one of the leading providers of Fiber To The Home (FTTH (Fiber To The Home) See FTTP. ), often referred to as "the last mile" solution, for neighborhoods and businesses utilizing the Company's Bundled Digital Services (BDS BDS
abbr.
Bachelor of Dental Surgery


BDS Bachelor of Dental Surgery

BDS n abbr (= Bachelor of Dental Surgery) → título universitario

BDS 
) which includes high speed Internet connectivity, dial-tone, digital multi-channel video, on-demand video rental, a community Intranet and other digital services. The acquisition of Link 2 Communications provides for two-way wireless telecommunications over an existing nationwide network.

According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 Michael McClere, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Clearworks.net, Inc., "The completion of the acquisition of Link 2 Communications, provides ClearWorks with the necessary FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S.  frequencies and licenses to deploy two-way wireless communications wireless communications

System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data.
 to an immense audience. Our focus will be on existing towers where communications equipment is already established and two-way communications are in operation. We intend to go after wireless 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
 services across to board to address market demand and to deliver where regional bell operating companies and others cannot deploy to meet customer demands. We believe our video on-demand services can operate effectively over wireless DSL service and open a gateway into the home for our other service offerings."

Link 2 Communications is currently a National Common Carrier and holds nationwide FCC licenses which will allow ClearWorks to expand wireless services and to provide services to both residential and commercial customers. Broadband wireless See wireless broadband.  solutions are entering the marketplace as a viable retrofit solution due to their inexpensive deployment and mass audience. The Company believes there are additional wireless services it can reap from Link 2 Communications, including wireless security monitoring services, two-way messaging including Internet connectivity, utility meter reading and others which are suited to the wireless environment.

In recent news the Company announced today that its pending merger with Eagle Wireless International (AMEX:EAG EAG - Extended Affix Grammar ) has closed. The merger between the two companies announced on August 15, 2000, closed and is pending approval by the shareholders. The merger terms remained consistent, calling for each ClearWorks.net shareholder to receive four Eagle common shares for each five ClearWorks.net common shares surrendered. Dr. H. Dean Cubley will hold the position of Chairman of the Board and will serve as Co-CEO with Michael McClere.

It is expected that Eagle Wireless will file a registration statement on SEC Form S-4 and Eagle Wireless and Clearworks.net will file a joint proxy statement/prospectus with the SEC in connection with the transaction, and that Eagle Wireless and Clearworks.net will mail a joint proxy statement/prospectus to stockholders of Eagle Wireless and Clearworks.net containing information about the transaction. Investors and security holders of both Eagle Wireless and Clearworks.net are strongly urged to read the definitive joint proxy statement/prospectus regarding the proposed merger contained in the Form S-4 because it will contain important information about the transaction. Investors and security holders may obtain a free copy of the definitive joint proxy statement/prospectus when it becomes available and other documents filed by Eagle Wireless and Clearworks.net with the SEC at the SEC's web site at www.sec.gov. The definitive joint proxy statement/prospectus and these other documents may also be obtained for free from Eagle Wireless and Clearworks.net.

Eagle Wireless and Clearworks.net, and their executive officers and directors may be deemed to be participants in the solicitation of proxies from the stockholders of Eagle Wireless and Clearworks.net, respectively with respect to the transactions contemplated by the merger agreement. Information regarding Eagle Wireless' officers and directors is included in the Form SB-2 filed by Eagle Wireless with the SEC on July 14, 2000. This document is available free of charge at the SEC's web site at www.sec.gov and from Eagle Wireless on request. Information regarding Clearworks.net's officers and directors is included in Clearworks.net's amended Form 10-KSB filed with the SEC on July 3, 2000. This document is available free of charge at the SEC's web site at www.sec.gov and from Clearworks.net on request.

Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 Statement Under Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995: The above statements in regard to ClearWorks.net, Inc. and it's affiliates and subsidiaries which are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including ClearWorks.net, Inc.'s beliefs, expectation, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate and marketplace changes.

For more information on ClearWorks.net, please visit the Company's Web site at www.clearworks.net.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Sep 19, 2000
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