CWRUObserver.com -Financial News and Headlines - NYSE, Nasdaq, OTC's

[wildbill]

CORR B: Corridor Communications Corporation Signs Letter of Intent To
cquire the Cable Television System Assets of Coast Co
B: Corridor Communications Corporation Signs Letter of Intent To Acquire the Cab
e Television System Assets of Coast Communications Inc. Company Will Expand Broa
band Wireless Data Services To Homes and Businesses in Arizona and Nevada ( PRNe
swire-FirstCall )

MOUNTAIN VIEW, Calif., Jun 7, 2004 /PRNewswire-FirstCall via COMTEX/ --
Corridor Communication Corporation (OTC Bulletin Board: CORR) has entered into a
LOI to acquire Coast Communications Inc. Cable TV assets in a deal for cash and
stock. Coast owns the rights to 25 cable television systems serving communities
in Arizona and Nevada, with over 40,000 homes passed. The systems have an annual
recurring revenue stream of $3.1 Million from its current subscriber base. The
companies have also agreed to launch Corridors Wireless HotZone system to
complement the service in its largest cable systems immediately to enhance its
offerings to its users and will continue deployment until all systems are
complete with broadband wireless internet.

Corridor plans to market its high-speed Internet data services to Coast's
existing customer base. Corridor will also look to expand cable subscriber base
by adding broadband services utilizing Coast's existing cable delivery
infrastructure.

"We see only an upside in this deal with Coast Communication with its current
penetration of only 20 percent. We know that by adding High-Speed Broadband
Services we can bring those numbers up. This acquisition will Launch Corridor
into new markets that in most cases high-speed broadband service have not been
available. Given this fact we feel that both the existing subscriber base and
future subscribers will embrace the combined services offered by the company,"
said J. Michael Heil, Chief Executive Officer of the Company.

Scott Mac Caughern, Chairman of Corridor Communications Corporation stated, "The
Coast Cable asset will enhance our core competencies in servicing our existing
customer base with bundled services of High-Speed Internet Access, Cable
Television Programming, and Voice Products. In addition, we get the benefit of a
company with zero debt and liabilities, a solid recurring revenue foundation and
an excellent infrastructure that will further enable Corridor to execute on our
strategic growth plan."

About Corridor Communications

Headquartered in Mountain View, California with Operations in Salem, Oregon,
Corridor Communications, Inc. is an integrated wireless Internet service
provider (WISP) offering high-speed Internet and data services, to residents and
businesses. The Company plans to implement a growth-through- acquisition
strategy by targeting small to mid size Dial Up Internet Service Providers (ISP)
in areas underserved by current broadband options. The growth strategy will also
focus on creating partnerships with existing hot spot management companies while
building company owned hotspots to create ubiquitous coverage or "Hot Zones"
that encompass entire cities.

Corridor's IP-Based technology supports all hardware meeting Wi-Fi 802.11(x)
standards operating in an unlicensed spread spectrums (2.4 GHz and 5.7 GHz), and
can be deployed far less expensively than comparable copper and cable
technologies. The company also plans to leverage its network build out for other
services that may include voice and video. For more information about Corridor
Communications, please visit the Company's web site at
http://www.corridorcommunications.com

"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995: This release contains forward-looking statements that are subject to risks
and uncertainties, including, but not limited to, the impact of competitive
products and pricing, product demand and market acceptance, new product
development, reliance on key strategic alliances, availability of raw materials,
the regulatory environment, fluctuations in operating results and other risks
detailed from time to time in the company's filings with the Securities and
Exchange Commission. Our forward-looking statements are based on currently
available information which management has assessed but which is dynamic and
subject to rapid and even abrupt change due to risks and uncertainties that
affect our business, including the unpredictability of future revenues and
limited visibility into future demand on which to base our forecasts; the
current uncertainty in our marketplace which may impact expected demand,
customer selection criteria and sales cycle; our ability to execute on product
deliverables and major customer contracts, slower economic growth generally,
slower adoption of broadband technology, or cutbacks in information technology
spending; and factors beyond our control such as power outages or work stoppages
at key customers.

Contact: Scott Mac Caughern of Corridor Communications Corp., [phone],
or smac@speedpalcom.

SOURCE Corridor Communication Corporation


CONTACT: Scott Mac Caughern of Corridor Communications Corp.,
[phone], or smac@speedpalcom

URL: http://www.corridorcommunications.com
http://www.prnewswire.com

Copyright (C) 2004 PR Newswire. All rights reserved.

-0-


KEYWORD: California
Arizona
Nevada
INDUSTRY KEYWORD: TLS
CPR
TVN
OTC
SUBJECT CODE: TNM

*** end of story ***