First Avenue Networks Announces Effectiveness of Registration Statement for Resale of Common Stock MCLEAN, Va., May 13 /PRNewswire-FirstCall/ -- First Avenue Networks (OTC:FRNS) (BULLETIN BOARD: FRNS) , a wireless carrier's carrier offering solutions for wireless backhaul, fiber network extensions, and broadband connectivity, today announced that the Securities and Exchange Commission declared effective its registration statement on Form S-3 pursuant to shares of common stock sold to institutional investors in December 2004. The registration allows holders of the shares to resell the securities covered by the registration statement. As announced on December 14, 2004, First Avenue Networks raised $93.3 million in equity securities. As part of the capital raising process, the company committed to register securities for resale. Today's announcement fulfills this commitment. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification of the securities under the securities laws of any such state. About First Avenue Networks First Avenue Networks (OTC:FRNS) (BULLETIN BOARD: FRNS) is a wireless carrier's carrier. The company is leading the fixed wireless backhaul and access evolution by building fixed wireless solutions for mobile backhaul, bypass and fiber extensions that are cost-effective, reliable and rapidly deployed. Since acquiring the 39 GHz licensed spectrum assets of Advanced Radio Telecom in 2001 and the 24 GHz assets and operations of Teligent in 2005, First Avenue has amassed the premier collection of millimeter wave spectrum assets in the United States. It has approximately 1.5 billion channel pops between its 24 GHz and 39 GHz spectrum licenses. First Avenue offers nationwide coverage and added depth in major U.S. metropolitan areas, holding nearly 600 MHz of spectrum in the top 75 U.S. markets. For more information, please visit the company's web site at http://www.firstavenet.com/ or call (703) 873-4150. The above information includes forward-looking statements regarding the securities trading and the provision of services by the Company and other opportunities in the Company's marketplace. These statements are not guarantees of future performance. Known and unknown risks, uncertainties, and other factors, including without limitation, risk that the Company will be adversely affected by capital constraints, changes to or failure to execute the Company's strategy and business plan, non-renewal or revocation of FCC licenses, variable customer demand, technological risks, ability to manage growth, competition and government regulation and other risks may cause actual results to differ materially from the future results implied or expressed in the forward-looking statements. Many of these risks and uncertainties are further discussed in our most recent filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the fiscal year ended December 31, 2004. The Company does not undertake to and expressly disclaims any obligation to update or revise its forward-looking statement publicly to reflect any change in these forward-looking statements, or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. DATASOURCE: First Avenue Networks CONTACT: Linda Pitt of GAJ Services Inc., +1-859-291-1005, , for First Avenue Networks Web site: http://www.firstavenet.com/

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