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Amedia Network Provides Second Quarter Operational Update

Posted on: Friday, 1 July 2005, 00:00 CDT

Frank Galuppo, President and Chief Executive Officer of Amedia Networks, Inc. (OTCBB:AANI), a provider of switched Ethernet ultra-broadband solutions for the Triple Play Access Market, today released an operational update detailing fundamental progress that has been made by Amedia over the past three months. In his comments to fellow shareholders, Galuppo stated:

"Now that the second quarter of 2005 is behind us, it is clear that our efforts towards establishing Amedia's brand value and growth prospects in the ultra-broadband industry are gaining traction on a number of key fronts. In particular, the past three months have been defined by marked progress in expanding our global distribution channels, in obtaining necessary capital to finance critical phases of our product commercialization, and in fulfilling our commitments to offer ultra-broadband solutions to customers who want to provide triple play services over their existing copper wires.

Expanding on this last point, Galuppo continued, "In an exceptionally brief time period, we developed, integrated into our current platform, and demonstrated at the industry's premiere event how customers can use our VDSL features to provide voice over IP, data, and video services over their existing copper wires leading to a home or business. With these features, they can provision from twelve to fifty times the bandwidth currently available from existing DSL services without the need to replace their copper wires in 'the last mile.' These features also meet the market's need for an economical ultra-broadband solution for Multi-Dwelling Units with copper infrastructure. In this case, up to 100 Mbps of bandwidth can be delivered to each unit. Success in these and other areas has culminated in Amedia arriving at one of the most significant milestones for any company -- its first major contract with a customer.

"With the recent announcement of our major contract win with Tai Long Communication in China, we have begun our transition to the revenue generation phase of our business strategy - and only 15 months after our launch. We have chosen to do this in what is arguably one of the largest and most exciting high growth markets in this world., We fully expect that the Tai Long deployment will serve to drive further adoption of our Qostream(TM) product family throughout the rest of Asia and the world as other customers view the very tangible benefits of our solution and our commitment to helping them succeed. This is particularly the case where those customers serve a large percentage of subscribers living in Multiple Dwelling Units.

"I'm proud that we have met all of our first half objectives that we set for ourselves, and are on track with our overall plan. And as in the past, we will again set challenging objectives for the second half of the year that will continue to create value for our customers and for our investors. I am confident that our extraordinarily talented and experienced management team will accomplish them. Specifically, we expect to:

-- Sign a minimum 3 referenceable customers prior to December 31, 2005;

-- Book revenue prior to the end of 2005;

-- Expand the scope of our strategic partnership program;

-- Achieve cost reductions through improved product design and sourcing initiatives

-- Expand our international sales and marketing team;

-- Achieve operating breakeven in 2006

-- Continue to implement feature enhancements that will meet the evolving needs of our targeted markets.

"So, as we approach the second half of 2005, we can look back with pride on our accomplishments to date, and look forward with confidence knowing that we posses the capacity to meet or exceed these and other objectives This is a market that holds tremendous growth potential, and in which we are committed to being a major participant. By managing our Company for future growth and long term prosperity, we remain confident that we will realize our full and promising potential," concluded Galuppo.

About Amedia Networks, Inc.

Amedia designs, develops, and implements switched Ethernet solutions for the ultra-broadband access market. These secure and flexible solutions are used by network operators deploying Fiber-to-the-Premises (FTTP) and/or Fiber-to-the-Node (FTTN) infrastructures to offer their residential and business subscribers high-speed data, video, and Voice over Internet Protocol (VoIP) services in a highly cost effective manner. For more information about Amedia Networks, please visit www.amedia.com.

This press release may contain "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995. A number of factors could cause Amedia's actual results to differ from anticipated results expressed in such forward-looking statements. Such factors are addressed in Amedia's filings with the Securities and Exchange Commission (available at www.sec.gov). Amedia assumes no obligation to update any forward-looking statements.

Source: Business Wire

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