MIDDLETOWN, R.I., May 17 /PRNewswire-FirstCall/ -- Towerstream Corporation (OTC:TWER.OB) (BULLETIN BOARD: TWER.OB) , a leading fixed WiMAX service provider, announced today that it has received approval from the staff of the NASDAQ Listing Qualifications department to begin trading on The NASDAQ Capital Market under the symbol TWER. The Company's common stock will continue to trade on the over the counter bulletin board under the symbol "TWER.OB" until the market close on the day before trading commences on The NASDAQ Capital Market. "We are pleased to have received approval for listing on The NASDAQ Capital Market where we will be among many leading early-stage technology companies. We believe NASDAQ provides the ideal marketplace for our common stock and supports our vision for the future," said Jeff Thompson, President and CEO of Towerstream. "We believe that the transition to the NASDAQ will improve the visibility of our stock with the investment community, enhance trading liquidity in our shares and provide Towerstream with greater exposure to a broad base of institutional investors." For more information visit http://www.towerstream.com/ About Towerstream Towerstream (OTC:TWER.OB) (BULLETIN BOARD: TWER.OB) is a leading fixed wireless service provider in the U.S., delivering high-speed Internet access to businesses. Founded in 2000, the company has established pre-WiMAX networks in markets such as New York City, Los Angeles, Chicago, San Francisco, Seattle, Miami, the greater Boston area, and Providence and Newport, R.I., and continues to expand coverage throughout the country. The company was the first carrier selected to join the WiMAX Forum to assist leading vendors in establishing industry compliance with international broadband wireless access standards and cross-vendor interoperability. For more information on Towerstream, please visit the website at: http://www.towerstream.com/. Safe Harbor Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The company undertakes no obligation to publicly release statements made to reflect events or circumstances after the date hereof. DATASOURCE: Towerstream Corporation CONTACT: Media, Kristin Conforti of Dukas Public Relations, +1-516-320-6839, or ; or Investors, Terry McGovern of Vision Advisors, +1-415-902-3001, or Web site: http://www.towerstream.com/

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