March 2005

New York , N.Y. Dianet Communications, Inc. CEO Jerome Bauman announced today Dianet’s completion of a $25 million equity facility with Wexford Capital LLC, a Greenwich, Connecticut based investment firm. The facility was arranged by Daniels & Associates, a Denver, Colorado based investment banking and brokerage firm specializing in telecommunications financing.

Dianet Communications specializes in the design and construction of Distributed Antenna Systems used by wireless communications carriers to provide improved wireless coverage in open areas and in buildings where it has been difficult to provide coverage for wireless telephone and other services using traditional methods. Dianet was recently awarded a franchise by the City of New York to attach antenna and related equipment to up to 3,000 city light poles or traffic lights to provide its Distributed Antenna Systems networks.

Mr. Bauman said that the tremendous increase in the use of wireless services and the difficulty in gaining zoning approval for new towers have created a vast need for the improved wireless coverage that can be readily achieved through the use of these small, distributed antennas on existing structures. Dianet’s shared system approach makes coverage in these open areas and in buildings effective, unobtrusive, and affordable.

For further information please contact:

Eric Mercer at 609-655-7637 or emercer@dianetcommunications.com