Odyssey Launches Tower Cloud LLC To Offer Tower Backhaul Solutions to Wireless Carriers

PALO ALTO, June. 10, 2006 – Odyssey Telecorp. Inc. announced today that it has formed Tower Cloud LLC, a new company that will offer tower backhaul solutions to wireless carriers.

The transport of data from wireless communication towers to the carrier networks, known as “backhaul,” is considered by many experts to be the weakest link in wireless networks. With its experience providing wholesale transport to wireless carriers, Odyssey believes that fiber networks offer the best long-term solution to this problem. Tower Cloud will focus on providing that solution directly to the wireless carriers.

“The huge growth in wireless networks over the past few years has highlighted the need for backhaul transport that meets next-generation quality and reliability standards” said Sean Doherty, chairman and CEO of Odyssey. “We believe the growing demand for backhaul will increasingly make it cost-effective and profitable to build these networks and service the wireless carriers.”

Ron Mudry, the former CEO of Progress Telecom, has joined Tower Cloud as co-founder and CEO. Odyssey has provided the new company with $2.3 million in seed capital.