Wyman-Gordon and Angel Technologies Sign Agreement

for HALO-Proteus™ Aircraft

 

Agreement calls for Certification and Manufacturing of 100 HALO-Proteus Aircraft

 

MOJAVE, CA – (September 22, 1998) –Wyman-Gordon Company [Nasdaq:WYMN] and Angel Technologies Corporation announced today an agreement which provides that Angel will have exclusive rights to the HALO-Proteus™ aircraft for commercial telecommunications applications and Angel will purchase its requirements for planes exclusively from Wyman-Gordon. The Agreement also provides for increased investment in Angel Technologies Corporation by Wyman-Gordon Company.

Angel Technologies is designing and building a communications network which utilizes the HALO-Proteus aircraft to carry a large communications antenna high above the center of a city. Circling at altitudes above 51,000 feet, the HALO-Proteus aircraft serves as the apex of Angel’s HALO Network delivering a variety of fixed, portable and mobile wireless services including voice, data, images and video. The HALO Network will enable individual consumers and businesses to send and receive data at multi-megabit per second rates, hundreds to thousands of times faster than today’s dial-up modem speeds. HALO Networks can be replicated over metropolitan centers throughout the world.

The design and prototype construction of the HALO-Proteus aircraft was performed by Wyman-Gordon’s subsidiary, Scaled Composites, under the direction of famed aircraft designer Burt Rutan. The agreement specifies terms under which Scaled Technology Works, a newly- formed Wyman-Gordon subsidiary, will certify and manufacture the aircraft at facilities recently constructed in Montrose, Colorado. If Angel exercies all of its options, the value of the contract will be approximately $760 million, and Angel Technologies will receive 100 aircraft to deploy its proprietary HALO Network over more than 30 cities worldwide. Three aircraft fly in shifts to provide a city with continuous coverage 7 days per week, 24 hours per day. Angel envisions the global market for wireless services delivered by HALO aircraft to be more than 200 cities.

"Congratulations to Burt Rutan and his talented team at Scaled Composites on their successful design of the HALO-Proteus aircraft," said Marc Arnold, Chairman and CEO, Angel Technologies. "The aircraft is a remarkable blend of conventional technology and innovative design that uniquely fulfills Angel’s requirements for wireless communications services. Today’s Inaugural Flight, and the announcement of our long-term agreement with Wyman-Gordon is an important milestone in Angel’s deployment of the HALO Network to supply low-cost broadband communications services that businesses are demanding."

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Angel Corporation/Wyman-Gordon 2/2

"We look forward to series manufacturing the HALO-Proteus aircraft as a communications platform to be deployed worldwide," said David Gruber, Chairman and CEO, Wyman-Gordon Company. "We believe that Angel’s HALO Network is an excellent tremendous opportunity for Wyman-Gordon to use its core capabilities to participate in the significant growth of both the Internet and broadband communications marketplace as a manufacturer and a major investor. Manufacturing the HALO-Proteus aircraft is a natural outgrowth of our strengths and represents a significant growth opportunity for our company."

"Until now, access to the stratosphere has been difficult and expensive," said Burt Rutan, President, Scaled Composites. "Angel’s commercial communications application required us to design a high altitude airplane which can operate at lower cost and higher reliability than existing high altitude special purpose planes, such as the U-2. The Proteus is an aircraft that will operate reliably above commercial air traffic at a small fraction of the cost it takes to operate existing piloted and unpiloted aircraft," said Rutan.

When configured with a large communication antenna beneath the fuselage, the HALO-Proteus will support around-the-clock missions for communication applications. The HALO-Proteus aircraft will provide the commercial communication industry a reliable alternative infrastructure that can be deployed instantly, even when terrestrial infrastructure is missing or incomplete. Deploying new broadband data services in developed countries and wireless telephony services in the developing world with the HALO-Proteus aircraft is complementary to terrestrial and satellite alternatives.

 

About Angel Technologies

Angel Technologies Corporation, with headquarters in St. Louis, Mo., is a privately-held wireless communications company using proprietary High Altitude Long Operation (HALO™) aircraft to deliver services worldwide. Augmenting terrestrial towers and orbiting satellites, Angel's HALO aircraft will fly fixed patterns in the stratosphere above major cities to deliver metropolitan wireless services at lower cost, with increased flexibility and improved quality of service. Teamed with corporate partners, Angel will deliver a variety of fixed and mobile wireless services including voice, data and video. The HALO Network will enable individual consumers and businesses to send and receive data at multi-megabit per second rates. It will be replicated over metropolitan centers throughout the world. Additional information can be found at website: http://www.broadband.com

 

About Wyman-Gordon Company

Wyman-Gordon Company [Nasdaq:WYMN] is a leading manufacturer of high-quality, technologically-advanced forgings, investment castings and composite structures for use in the commercial and defense aerospace, commercial power and energy, and performance product markets. Additional information can be found at website: http://www.wyman-gordon.com

This press release contains forward-looking statements made in reliance upon the safe harbor of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve a number of assumptions, risks and uncertainties that could cause actual results of the Company to differ materially from those matters expressed in or implied by such forward-looking statements.

NOTE TO EDITORS: Angel Technologies™, HALO™, HALO-Proteus™, and HALO Network™ are trademarks of Angel Technologies Corporation. All other trademarks and trade names are the property of their respective companies.


Contact:

Angel Technologies
Diane Murphy
Federal City Communications Corp.
Tel: 202/662-1280
Fax: 202/662-1281

EMail: diane@broadband.com


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