AireSurf Networks Holdings Inc.

AireSurf Networks Holdings Inc.

April 30, 2010 09:22 ET

AireSurf Anticipates Delay in Filing Annual Financial Statements

TORONTO, ONTARIO--(Marketwire - April 30, 2010) - AireSurf Networks Holdings Inc. (the "Company") (CNSX:ANH) announces that it anticipates to be late in filing its annual financial statements and management discussion and analysis ("MD&A") for the year ended December 31, 2009 on the prescribed deadline of April 30, 2010.

The Company has made an application with the applicable securities regulators under National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203") requesting that a management cease trade order be imposed in respect of this late filing rather than an issuer cease trade order, but there is no assurance that it will be granted. The issuance of a management cease trade order generally does not affect the ability of persons who have not been directors, officers or insiders of the Company to trade in their securities.

The Company has been unable to complete the required filings as a result of delays caused by the recent change of management of the Company. As a result of these changes, the Company requires additional time for the completion of its annual financial statements, MD&A and audit.

Based on the work completed to-date, the Company anticipates that the annual financial statements and MD&A will be filed on or prior to May 30, 2010.

The Company confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of the filing requirements to file its financial statements and MD&A within the prescribed period of time. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.

This press release contains certain forward-looking statements, which are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected. AireSurf undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

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The Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy of this release.

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