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Marty
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running hard....on news

BROOMFIELD, Colo., Jan. 31 /PRNewswire-FirstCall/ -- Usurf America, Inc.
(OTC Bulletin Board: USUR), a leading regional provider of wired and wireless
high-speed broadband communications services, announced today that it has
executed a definitive agreement to acquire Denver-based Sovereign Companies in
a deal valued at $30 million.

Founded in 1992, Sovereign is a diversified building and construction
management services company specializing in delivering turn-key residential and
commercial developments with completely integrated broadband and communication
infrastructure and services. Sovereign currently employs over 100 people and
is offering construction and communications services in Colorado, Minnesota,
Wisconsin, and Arizona. Sovereign properties are renowned for quality
construction and for excellent voice, video, and data services.

"Sovereign represents the next generation developer that can deliver a
complete portfolio of construction and communications services to new
communities, and to large developer and municipal partners," said Dave Weisman,
chairman of Usurf. "Their model is to be a one-stop service provider that
offers construction, networking, financial, technology, and on-going operations
services to individual customers, developer partners, municipalities, and other
service providers."

By merging the two companies and leveraging Usurf's expertise in deploying
next generation communications infrastructure, Usurf will be in a unique
position to greatly expand its reach into the housing market and to offer a
comprehensive suite of communications-oriented technology and building services
to other developers and to municipalities seeking to deploy next generation
communications infrastructure.

As communications solutions become more complicated and more specialized, it
is vitally important to design new developments as early as possible. The
Usurf/Sovereign combination represents a unique pairing of technology and
development that can together provide the most complete set of building and
communications services possible.

Operating as a division of Usurf, Sovereign will be able to expand its suite
of building services to include key broadband and wireless communications
technologies and service provisioning currently being developed and deployed by
Usurf. By offering a more comprehensive set of services, Sovereign will be
able to bridge the gap between traditional builders seeking to integrate
communications solutions into their projects and technology providers seeking
to deploy their technologies into new and existing developments.

Weisman also stated, "Usurf was seeking new and innovative ways to bring its
communications technologies to market. The Sovereign acquisition represented a
very accretive opportunity to greatly expand our customer base, to access
thousands of new customers, and to work closely with other developers and city
and state agencies seeking to integrate new communications technologies onto
their existing infrastructure. We believe our combined

market opportunity to be very large, our competition fragmented, and our
timing to be excellent."

The transaction will be treated as an acquisition and promises to be
immediately accretive to revenue.

Specific components of the transaction will be reported in subsequent SEC
filings and include the initial issuance of restricted stock combined with
specific earn-out provisions based upon the attainment of financial performance
milestones over the next 36 months.

Ed Garneau, currently the CEO of Sovereign will continue to lead the
Sovereign Companies division of Usurf and will report to the CEO of Usurf.

"We have been building a tightly integrated and very profitable business for
the last 12 years based upon delivering quality projects and state-of-the-art
communications infrastructure coupled with excellent post-sale service
provisioning," said Garneau. "By combining with Usurf, we can greatly expand
our product portfolio, enter new and highly complementary markets, and quickly
grow our business."

Weisman added further, "We are delighted to be partnering with Ed Garneau
and the entire Sovereign management team. They are aggressive, highly focused,
and we believe this business combination will represent the catalyst to quickly
grow Usurf's revenues and generate significant profits for its shareholders."
The transaction is expected to close in Q1 2005.

About USURF America, Inc.

Based in Broomfield, Colo., Usurf America is implementing specific
strategies designed to leverage the Company's IP-based software technology
enabling fully ubiquitous voice, video and data product deployments in targeted
geographic regions of the United States. For more information about Usurf
America, please visit the Company's website at www.usurf.com.


SAFE HARBOR STATEMENT: Some information in this release is forward looking.
These forward-looking statements may be affected by the risks and uncertainties
in Usurf America's business. This information is qualified in its entirety by
cautionary statements and risk factors disclosure contained in certain of Usurf
America's Securities and Exchange Commission filings. Usurf America wishes to
caution readers that certain important factors may have affected and could in
the future affect its actual results and could cause actual results for
subsequent periods to differ materially from those expressed in any
forward-looking statement made by or on behalf of Usurf America. There are
many factors that will determine whether Usurf America will be successful in
its endeavors, including, without limitation, access to adequate capital and
consumer acceptance of its telecommunications service offerings. Usurf America
undertakes no obligation to update forward-looking statements to reflect events
or circumstances after the date hereof.

Contact: Jim Mills, J.F. Mills/Worldwide for Usurf America, Inc.
(303) 639-6186 or jfmills@jfmillsworldwide.com
Denise Hoover, of Usurf America, Inc.
(303) 285-5379 investorrelations@usurf.com

SOURCE Usurf America, Inc.
/CONTACT: Jim Mills of J.F. Mills/Worldwide, +1-303-639-6186,
jfmills@jfmillsworldwide.com, for Usurf America, Inc.; or Denise Hoover of
Usurf America, Inc., +1-303-285-5379, investorrelations@usurf.com/
/Web site: http://www.usurf.com /
(USUR)

--------------------
Marty
When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;)

Posts: 1740 | From: NJ, USA | Registered: Oct 2004  |  IP: Logged | Report this post to a Moderator
Marty
Member


Member Rated:
4
Icon 1 posted      Profile for Marty     Send New Private Message       Edit/Delete Post   Reply With Quote 
I'm shocked nobody ran with this....oh well, it was a descent little run....GLTA

--------------------
Marty
When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;)

Posts: 1740 | From: NJ, USA | Registered: Oct 2004  |  IP: Logged | Report this post to a Moderator
   

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