Airborne Wireless Network and Air Lease Corporation Agrees to Terminate ALC Agreement

Airborne Wireless Network is an early-stage company with the principal business strategy of developing, marketing and licensing a high-speed, meshed broadband airborne wireless network by linking aircraft in flight. It calls this network the Infinitus Super Highway (Infinitus). Infinitus provides a broadband wireless communication infrastructure by using and customizing existing, small, lightweight, low-power relay station equipment and antennae that are installed onboard aircraft. Each equipped aircraft has broadband wireless communication link to one or more neighboring aircraft and/or ground stations. It intends to act as a wholesale carrier, licensing its bandwidth to, among others, data service providers, such as telecommunications companies and other Internet service providers that provide broadband services to end users, to government agencies and to companies that desire a more robust private broadband network. The Company has not generated any revenue from operations.