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09/24/08 -TierOne Networks Completes Sale/Leaseback Transaction with Subcarrier Communications
for Forney, Texas Property

Dallas, Texas: September 24, 2008 –TierOne Networks, a Dallas-based Wireless Internet Service Provider (WISP) and Subcarrier Communications, Inc., one of the nation’s largest owners/managers of telecommunications sites and services, today completed a Sale/Leaseback transaction pursuant to their existing joint venture agreement. The JV is expected to accelerate broadband availability to rural customers through the combination of tower building expertise and a “carrier class” network provider.

"This is the first in a series of transactions with Subcarrier Communications which will allow us to create highpoints in new markets,” said Kevin Weaver, President & CEO of TierOne Networks. “We continue to expect the JV to create a substantial competitive advantage to TierOne as our exponential growth continues.”

Subcarrier Communications CEO John Paleski commented, “"The Sale/Leaseback transaction leverages our core competency, owning and managing communication towers. We expect the JV to accelerate our growth while reducing our overall risk profile.” 

About Subcarrier Communications, Inc. | www.subcarrier.com

Subcarrier Communications, Inc., headquartered in Old Bridge, New Jersey, owns and/or manages in excess of 1,000 telecommunications tower sites throughout the U.S. Our primary business is to design and build high-capacity, multi-tenant colocation towers. Our mission is to provide in-depth, cost effective and timely development services to the wireless communications industry. We strive to develop tower sites specific to carrier requirements, offer co-location leasing programs, as well as management, marketing and design solutions. Additionally, we effectively increase third party tower and rooftop assets through our exclusive management programs. For more information please contact us at (732) 607-2828.  

About TierOne Networks | www.tocn.com

TierOne Converged Networks, Inc.  is a next generation Wireless Internet Service Provider (“WISP”) headquartered in Dallas, TX.  TierOne’s management and technical knowledge is positioned to dominate rural WISP markets in the southwestern U.S.  We provide wireless broadband services to smaller or secondary rural markets that are underserved by the Incumbent Local Exchange Carriers (“ILECs”) and cable TV operators.  Our FCC Licensed Broadband Network delivers inexpensive, high speed, low latency internet to underserved areas in the DFW area.  In addition to expanding its business through strong organic growth, TierOne Networks is pursuing an active acquisition strategy of WISPs to expand its operations and to augment its organic growth initiatives. 

TierOne is interested in acquiring Texas-based WISPs. 
Inquiries should be directed to Ronald Celmer at (214) 217-8626 ext 2031.

TierOne’s Commercial Office Building Solution finally offers building owners & managers the ability to profit from the “Fourth Utility” while offering tenants enhanced lower priced services, high-speed bandwidth, mobility solutions, IP communications, and maximum flexibility. Building owners & managers will also increase the bottom line with cost savings in energy, lighting & HVAC systems, building security & access.

For more information please contact
Kevin Weaver at (214) 217-8626 ext 2003 or for service call 1-866-551-1367.