Mobilepro Corp (fka MOBL)

[WilliamFL]

MobilePro Acquires mobeo(R) Wireless Reseller Assets From Telecommunication Systems Transaction Enables MobilePro to Sell RIM Blackberry(R) Products and Network Access to Enterprise and Retail Subscribers Nationwide

BETHESDA, Md., Jan. 9 /PRNewswire-FirstCall/ -- MobilePro Corp. (OTC Bulletin Board: MOBL), a broadband telecommunications services company announced today that its wholly owned subsidiary, CloseCall America, Inc., is acquiring wireless contracts representing approximately 7,000 wireless customers plus related inventory and other related assets from TCS.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040414/FLWLOGOLOGO )
In exchange for the assets, MobilePro will issue to TCS approximately 9 million restricted shares of its common stock, and will pay TCS an earn-out amount in cash based on the revenue or gross profit generated by those customers over the next three years. In addition, TCS has been granted certain registration rights with respect to the shares of common stock.
MobilePro Chairman and CEO Jay Wright said, "We are pleased to announce this transaction with TCS which scales up our cellular customer base and allows us to offer for the first time the popular RIM Blackberry products. We expect the transaction to be immediately accretive to our revenue and earnings per share, and to increase wireless as a percentage of our overall revenue. In short, we believe the deal makes financial and strategic sense for us."
About MobilePro Corp.
MobilePro Corp., based in Bethesda, Md., is one of North America's leading wireless broadband companies. The company serves more than 240,000 total customer lines throughout the United States, primarily through its CloseCall America, AFN and Kite Network subsidiaries. For more information about MobilePro, including investor relations information, contact Hawk Associates at [phone], e-mail: [e-mail], or visithttp://www.mobileprocorp.com.
An investment profile about MobilePro Corp. may be found online at http://www.hawkassociates.com/moblprofile.aspx.
For investor relations information regarding MobilePro, contact Frank Hawkins or Julie Marshall, Hawk Associates, at [phone], e-mail: [e-mail] . An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com.
Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements," which are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements regarding the expected closing date or time of the transaction and that the transactions is expected to be accretive are forward looking statements. These forward-looking statements are based on management's expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future. See MobilePro's Form 10-KSB for the fiscal year ended March 31, 2006 and its Forms 10-Q for the fiscal quarters ended June 30, 2006 and September 30, 2006 for a discussion of some of the risks, uncertainties and other factors which necessarily qualify all SOURCE MobilePro Corp.

Frank Hawkins or Julie Marshall, both of Hawk Associates, [phone], [e-mail] 09Jan07 13:57 GMT
Symbols: us;MOBL us;MOBL
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