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11/05/08 -TierOne Networks Acquires LavonWeb.net of Lavon, TX

Dallas, Texas: November 5, 2008 –TierOne Networks a leading provider of carrier-grade wireless and broadband products and services announced today that the company has completed the acquisition of LavonWeb.net of Lavon, Texas. The acquisition represents the third in a rapid series of transactions scheduled to close in 2008, which taken together, will create the largest WISP in Texas. The acquisition includes approximately 700+ wireless internet customers, multiple tower locations and TierOne’s new strategically located Eastern logistics center.

"The purchase of LavonWeb.net represents a significant step toward achieving our goal of creating the largest WISP in the southwest,” said Kevin Weaver, President and CEO of TierOne Networks. “LavonWeb.net’s coverage area is contiguous to TierOne’s existing network and will create the option for customers to upgrade to higher speeds. We look forward to continuing to create shareholder value and providing excellent service to the communities we serve.”

Jeff Donaldson, Owner of LavonWeb.net added, "This transaction represents the culmination of six years of hard work and I will be joining TierOne where I expect to contribute significantly to their rapid expansion plans. TierOne has the capital, management and expertise to become the standard in DFW and beyond”.

About TierOne Networks | www.tocn.com

TierOne Converged Networks, Inc. is a profitable 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., with an initial focus on DFW and Texas markets. We provide wireless broadband services, using next-generation technologies, 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 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 TX-based WISP’s.
All inquiries should be directed to Ron Celmer, CFO at (214) 217-8626 ext 2031.

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All investment inquiries should be directed to Kevin Weaver, President & CEO at (214) 217-8626 ext 2003