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DBBD (OTCBB) Digital Broadband Networks Announces Stock Repurchase Program

WEDNESDAY, DECEMBER 04, 2002 10:00 AM

FLEMINGTON, N.J., Dec 4, 2002 (BUSINESS WIRE) -- Digital Broadband Networks, Inc. (OTCBB:DBBD)(www.dbni.net) announced today that its Board of Directors has approved a stock repurchase program for up to 10 million shares from its present public float of approximately 42.7 million shares which may be repurchased from time to time. Duration of the repurchase program is up to twelve months. Under the program, DBBD can purchase shares of common stock through open market and/or privately negotiated transactions at prices deemed appropriate by management. The timing and amount of any repurchase transaction under this program will depend on market conditions and corporate and any regulatory consideration. As of November 15, 2002, DBBD had 98,950,899 shares of common stock outstanding.



About Digital Broadband Networks


Digital Broadband Networks, Inc., a Delaware corporation, (www.dbni.net) is the parent company of EyStar Media Inc. and Malaysian-based Animated Electronic Industries (AEI), and its subsidiary, Perwimas Telecommunications. AEI is involved in the development of value added Internet Protocol services and marketing of office/home automation devices. Perwimas is licensed to operate VISIONET, a national, digital, wireless broadband network that will support high speed Internet access, video on demand, multimedia applications and services targeted towards both business and residential markets.


Safe Harbor Statement


Investors should carefully consider the preceding information, as well as other information contained herein before making an investment in the common stock of the Company. Information contained herein contains forward-looking statements and information that are based upon beliefs of, and information currently available to management, as well as estimates and assumptions made by management. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "expects", "is expected", "intends", "may", "will", "should", "anticipates", "plans" or the negative thereof. Such forward-looking statements involve knows and unknown risks, uncertainties and other factors that could cause actual results to vary materially from historical results or from any future results expressed or implied in such forward-looking statements. Digital Broadband Networks does not undertake to update, revise or correct any forward-looking statements.

L.G. Zangani, LLC provides financial public relations service to the Company, As such L.G. Zangani, LLC and/or its officers, agents and employees, receives remuneration for public relations and or other services in the form of moneys, capital stock in the Company, warrants or options to purchase capital in the Company.


CONTACT: L.G. Zangani, LLC
Leonardo Zangani, 908/788-9660
[e-mail]
or
Digital Broadband Networks, Inc.
Valerie Looi
[e-mail]

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