SOURCE: O2 Secure Wireless, Inc.

August 13, 2007 15:08 ET

O2 Secure Wireless, Inc. Reports Third Quarter Financial Results

Reports 169% Increase in Revenues, 8th Straight Quarter of Revenue Growth

NORCROSS, GA--(Marketwire - August 13, 2007) - O2 Secure Wireless, Inc. (OTCBB: OTOW), a premier wireless internet service provider for high-density residential communities, today announced results for the third quarter ended June 30, 2007.

For the third quarter of 2007, the company reported total net sales of $112,456, an increase of 169% compared with $66,518 in the third quarter of 2006. Net loss for the quarter was $166,905, or $0.006 per share, compared to a net loss of $185,273, or $0.007 per share, in the third quarter of 2006. The increase in income as compared to the prior year reflects a continued focus on higher margin network engagements, sales of the recently launched REACTOR mobile internet product, as well as an increased number of properties serviced by O2 Secure Wireless.

"We are extraordinarily pleased with the sharp increase in revenues on the quarter and the continued growth of our net sales as a whole. Our main goals for the remainder of the year include continued focus on revenue growth while also reducing our expense structure in order to reach our strategic goal of profitability prior to the end of 2007," said Craig C. Sellars, President and CEO of O2 Secure Wireless. "Our revised business model of securing long-term fixed revenue contracts with REITs has been well received within our marketplace, and has provided the company with a solid financial foundation to pursue additional higher margin engagements. The management team and employees are committed to reaching the goals set forth for 2007, and the company is well positioned to continue its record of continued revenue growth."


Subsequent to the quarter ended June 30, 2007, O2 Secure Wireless has made significant progress in executing the business plan as demonstrated by recent announcements of new engagements and progress in securing additional sources of working capital. These include:

--  The announcement of an agreement to provide high-speed wireless
    internet access for a 60 acre, 1,100 residential unit mixed-use development
    in Atlanta, GA.
--  Continued discussions to secure a private placement offering for
    shares of our common stock.
--  The announcement of a contract to provide high-speed wireless internet
    access for three off campus student housing properties at the University of
    Texas in Austin.
--  Ongoing negotiations with a financial lender to secure a line of
    credit to be used in funding additional network implementations.

About O2 Secure Wireless

O2 Secure Wireless, Inc. (OTCBB: OTOW) is a premier Wireless Internet Service and Technology Provider redefining exceptional high-speed internet access, services and support to residential communities, mobile professionals, businesses and municipalities. O2 Secure Wireless utilizes Broadband Wi-Fi to cover its customers with the most secure wireless technology and provides the highest level of customer service.

Safe Harbor

Forward-Looking Statements: This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of the management of O2 Secure Wireless only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings; economic downturns affecting the operations of the Company, adequate financing to achieve the new strategic plans, and the unavailability of general financing to complete management's overall plans and objectives. O2 Secure Wireless undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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