AireSurf Networks Holdings Inc.

AireSurf Networks Holdings Inc.

February 17, 2009 17:05 ET

AireSurf Closes First Tranche of Private Placement

TORONTO, ONTARIO--(Marketwire - Feb. 17, 2009) - AireSurf Networks Holdings Inc. (CNSX:ANH) (the "Company") announces that further to its press release dated February 12, 2009 announcing a proposed private placement of up to 6,000,000 units of the Company, it has completed the first tranche of 1,000,000 units at a price of $0.05 per unit for gross proceeds of $50,000. Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire an additional common share at a price of $0.10 for a period of two years following the closing of the offering. The proceeds of the private placement will be used for general working capital purposes.

Completion of the private placement is subject to regulatory approval, including satisfaction of the requirements of the CNSX.

Shares Outstanding: 50,317,596

The CNSX has not reviewed and does not accept responsibility for the adequacy of this release.

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