WaveRider And Suburban Broadband To Build Wireless Network Spanning 14 Counties In Colorado.

Business Editors/High-Tech Writers

TORONTO--(BUSINESS WIRE)--Jan. 29, 2003

Multi-year Supply Agreement for WaveRider's Last Mile Solution(R)

Supports Suburban Broadband's Aggressive Growth Plans

WaveRider Communications Inc. (OTCBB:WAVC), a leading global provider of fixed wireless Internet access products, and Suburban Broadband LLC have signed a multi-year supply agreement that will bring wireless broadband service to 14 counties along the Front Range of Colorado via WaveRider's non-line-of-sight Last Mile Solution(R) products.

Under the agreement, Suburban Broadband will install WaveRider's Last Mile Solution(R) products in the Larimer, Weld, Boulder, Denver, Morgan, Adams, Gilpin, Arapahoe, Jefferson, Douglas, Elbert, Teller, El Paso, and Pueblo counties in Colorado, which represent more than 80% of the state's population.

"Based on the success of our wireless services in Castle Pines North, we have begun to implement an aggressive plan to expand throughout the Front Range of Colorado within the next three years, and already have the support of many communities in which we plan to deploy," said Damon Estep, Director of Operations, Suburban Broadband. "We are now building our wireless network in Douglas and Jefferson counties. In the near future, we will have the capacity to deliver wireless broadband services to thousands of subscribers along the Front Range."

"We believe Suburban Broadband is becoming one of the premier wireless Internet service providers in the United States. Its ability to effectively deliver high-quality service is evidenced by its success to date, and many subscribers have switched from other broadband services to Suburban Broadband's new wireless service," said Charles Brown, Executive Vice President, WaveRider Communications Inc. "Suburban's roll-out plans will establish a significant market presence for WaveRider in Colorado."

Suburban Broadband launched its wireless Internet service using WaveRider's non-line-of-sight Last Mile Solution(R) in Castle Pines North, Colorado in April, 2002 and has quickly expanded its network to serve hundreds of subscribers.

"The demand for broadband services throughout Colorado is tremendous," said Estep. "Wireless technology has proven to be the fastest and most cost-effective way to deliver broadband access to new service areas, and to deliver the level of service that subscribers expect. WaveRider's non-line-of-sight products are the only wireless products available that offer the range, capacity, non-line-of-sight features and affordability we need to be successful."

The world leader in Non-Line-of-Sight (NLOS) Technology

WaveRider's Last Mile Solution(R) (LMS) is the world's first wireless broadband product to deliver true non-line-of-sight Internet connections in the license-exempt spectrum. WaveRider's LMS is distinguished in the non-line-of-sight category by its user-installed indoor antenna, which enables broadband connections through buildings, tree canopies and other line-of-sight barriers.

WaveRider's Last Mile Solution(R) wireless systems have been deployed by service providers in 43 states in the United States. WaveRider's customers have now made wireless broadband service accessible to hundreds of thousands of potential subscribers across the country.

"WaveRider's NLOS Last Mile Solution(R) product has been chosen for city and county-wide deployments because it is the only system of its kind that can accommodate hundreds of subscribers on a single base station location, and deliver the performance required by these large operators," said Brown. "We believe our LMS product has set the standard for NLOS technologies today."

WaveRider's Last Mile Solution(R) non-line-of-sight high-speed fixed wireless system consists of Communications Access Points (base stations) and wireless end user modems (EUMs) with antennas installed at the subscriber's premises. WaveRider's indoor antenna can be installed by the subscriber for a non-line-of-sight wireless connection, or an outdoor antenna can be installed for longer range and line-of-sight applications.

About WaveRider Communications Inc.

WaveRider Communications Inc. (www.waverider.com) is a leading global provider of fixed wireless Internet access products. WaveRider's Last Mile Solution(R) product family includes its non-line-of-sight 900 MHz wireless system that connects businesses and residential subscribers to the Internet. WaveRider's NCL Series provide 11 Mbps wireless connections between single or multiple computer networks. WaveRider is traded on the OTC Bulletin Board, under the symbol WAVC.

Except for the historical statements made herein, this release contains forward-looking statements that involve risks and uncertainties including the risks associated with the effect of changing economic conditions, trends in the development of the Internet as a commercial medium, market acceptance risks, realizing expected revenue, technological development risks, and seasonality. Risk factors also include the company's ability to secure additional financing; the company's ability to commercialize its products; the company's ability to compete successfully in the future against existing or new competitors; the company's ability to protect its intellectual property and the assurance that the rights granted under patents or copyrights that may be issued will provide sufficient protection to its intellectual property rights; the company's success in enhancing existing products and developing new products to keep up with the technological advances in the data communications industry; the continued availability of the license-exempt spectrum which is based on regulation by U.S. and foreign governments; the company's ability to avoid significant product liability exposure; the company's dependence on a limited number of third party manufacturers; the company's ability to execute its business plan and generate an overall profit and other risk factors detailed in the Company's filings with the Securities and Exchange Commission, including the company's annual report on Form 10-K as amended. Due to these factors, actual results could differ materially from those expressed in forward looking statements by the company.