Wireless Grids Corporation - Clear Channel Radio, Syracuse Announce Agreement Signed

AUSTIN, Texas, Feb. 9 /PRNewswire/ -- Wireless Grids Corporation (WGC) announced today that it has signed a Letter of Agreement with six Clear Channel Radio stations based in Syracuse, New York to undertake a product trial of Wireless Grids Corporation's software based solutions.

WGC's product enables a social community of people to dynamically interact with various forms of content on their mobile (and other) devices, seamlessly leveraging its patent pending "edgeware" applications.

Joel Delmonico, General Manager of Clear Channel Radio, Syracuse, said: "We're delighted to be among the very first firms in the country to take advantage of Wireless Grids' new applications. We're always interested in exploring new methods of interaction and content distribution for the benefit of our listeners."

WGC CEO John Andrews said: "We are excited to expand product testing with Clear Channel Radio in Syracuse, especially given their considerable audience – reaching more than 60% of the market through the combined power of their six radio stations. We look forward to collaborating with Clear Channel Radio and its distinctive media portfolio on an even greater scale in the future."

About Clear Channel Communications, Inc.:

Clear Channel Communications, Inc. is a global media and entertainment company specializing in mobile and on-demand entertainment and information services for local communities and premiere opportunities for advertisers. Based in San Antonio, Texas, the company's businesses include radio and outdoor displays.

About Wireless Grids Corporation:

Wireless Grids Corporation (WGC), a wholly owned subsidiary of Varsity Media Group, was spun out of Syracuse University and its labs, and is developing software based solutions, which is a next generation platform that transforms computer networking and wireless infrastructures' (all devices) ability to interact seamlessly with little configuration. WGC has been widely recognized, including "One of the 9 Wireless Companies to Watch", Network World 2008. WGC is a part of the Intel Certified Partner Program, Nokia Academic Research Support Partner Program, an Academic Research Partner with Syracuse University, and an Academic Research Support Partner with the National Science Foundation (NSF).

Safe Harbor Statement: Forward-Looking Statements

This press release contains certain "forward-looking statements". Such statements include statements relating to the recent strengthening of the leadership team of the company and other statements relating to future events or to the company's future financial performance and are not historical facts, including statements which may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words.  Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the company. Actual results may differ materially from the expectations contained in the forward-looking statements. More detailed information about the company and the risk factors that may affect the realization of forward-looking statements is set forth in the company's Private Placement Memorandum. The company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

SOURCE Wireless Grids Corporation