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Rocket Broadband Networks Inc.

June 13th, 2007 : Phil Yawman, CEO

Rocket provides "triple play" telecom services to multiple dwelling units in partnership with the property owners. The company executes long term (7-10+ years) right of entry agreements and exclusive marketing agreements with the property owners.

Rocket provides its video programming through DirecTV who is aggressively trying to penetrate the MDU market. Voice and data services are offered via Broadband access that Rocket brings into the property via owned and lease facilities.

Initially funded in December of 2005 with a $2.5M paid in equity investment led by High Peaks Venture Partners, Rocket has made strong progress over the past year, particularly over the past 4-6 months.

Rocket currently has 9 employees, 17 completed property build-outs and approximately 1,000 subscribers in service. Rocket is actively working to secure contracts or pilots which could lead to substantial organic growth in western NY. Additionally, the company has negotiated an LOI for the acquisition of a profitable WNY MDU video provider. The acquisition is comprised of 16 properties, over 2,800 subs, $1.3MM revenues and $350,000 in annual EBITDA. At closing of the acquisition, Rocket will have 31 properties and nearly 4,000 subscribers and expects to EBITDA positive by year end 2007.

Rocket's CEO is Phil Yawman who was one of the co-founders of Choice One Communications, a Rochester-based CLEC. Mr. Yawman joined Rocket as CEO when the Series A round in late 2005 was completed.


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