GIG HARBOR, Wash.--(BUSINESS WIRE)--Sept. 20, 2005-- Arabian Recab Trading Co. ("Recab International"), which merged with Reality Wireless Networks, Inc. (OTCBB:RWNW) ("Reality") on July 21, 2005, announced a dramatic increase in revenues for the quarter ending June 30, 2005. Revenues for that quarter were 28,561,072 Saudi Riyal (approximately $7.6 million USD). This represents an increase of over 300% in revenues from the previous quarter (ending March 31, 2005). In addition, Recab International announced that the months of July and August also saw significant revenue growth. For the two months ended August 31, 2005, Recab International generated 26,615,527 Saudi Riyal (approximately $7.1 million USD). This suggests that Recab International should see an increase of more than 135% in revenues from the June 30 to September 30 quarter. These revenues do not include sales from Recab International's telecommunications business (as announced on September 13) or granite and quarrying business (as announced on September 6).
About Reality Wireless Networks, Inc.
Reality Wireless Networks, Inc., a publicly-traded Nevada corporation, previously offered broadband wireless services through hybrid networks including fixed wireless, 802.11, and fiber to markets either underserved or not served by DSL and cable modem technologies. Reality has shifted focus to seek growth opportunities in the wireless marketplace and related product industries (ir@realitynetworks.com). More information about Reality Wireless Networks, Inc. can be found at www.sec.gov.
NOTE: Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks or uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the operating results, performance or financial condition are the company's ability to achieve and manage growth; the company's ability to successfully identify suitable acquisition candidates, complete acquisitions or integrate the acquired business into its operations; the company's ability to attract and retain qualified personnel; the company's ability to secure necessary financing; potential litigation by shareholders and/or former or current advisors against the company; the company's success in securing third-party commitments, production agreements and/or licensing contracts; the company's ability to comply with federal, state and local government regulations and/or unforeseen changes in federal or and government regulation; and the company's ability to develop new services; and other factors discussed in Reality's filings with the Securities and Exchange Commission. 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
KEYWORD: NORTH AMERICA AFRICA/MIDDLE EAST WASHINGTON UNITED STATES SAUDI ARABIA INDUSTRY KEYWORD: TECHNOLOGY NETWORKS TELECOMMUNICATIONS SOURCE: Reality Wireless Networks, Inc.
CONTACT INFORMATION: Reality Wireless Networks, Inc. Steve Careaga, 253-853-3632
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