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[QUOTE]Originally posted by bond006: [QB] Thursday , July 07, 2005 10:00 ET GIG HARBOR, Wash., Jul 07, 2005 (BUSINESS WIRE) --Reality Wireless Networks, Inc. (OTC BB: RWNW), announced today conversion of outstanding debt to equity. The Company noted that holders of $116,000 worth of previously outstanding liabilities have agreed to convert these liabilities into common stock of the Company. The holders of the liabilities have agreed to convert into restricted stock at a price slightly above the current market price. Steve Careaga, CEO of Reality Wireless Networks, noted, "We are delighted that these debt holders have agreed to work with Reality Wireless Networks to resolve the issue of these outstanding liabilities." Reality Wireless continues to negotiate with debt holders in order to reduce its outstanding liabilities. For further information, please contact Steve Careaga at 253-853-3632, or send correspondence to 4916 Point Fosdick Dr., Suite 102, Gig Harbor, WA 98335 This press release may contain "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) limited operating history; (2) potential litigation with our shareholders and/or former or current investors; (3) unforeseen costs and expenses; (4) the consummation of any proposed business combinations and material agreements; (5) the ability to comply with federal, state and local government regulations; and (6) unforeseen factors over which we have little or no control. SOURCE: Reality Wireless Networks, Inc. Reality Wireless Networks, Inc. Steve Careaga, 253-853-3632 Copyright Business Wire 2005 [/QB][/QUOTE]
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