Unique Broadband Systems, Inc. Announces Agreement to Sell Half of Its Look Shares

On November 9, 2012, Unique Broadband Systems, Inc. ("UBS") (TSX VENTURE:UBS)
announced the approval by the Ontario Superior Court of Justice (the "Court") of
a process pursuant to which UBS sought offers for the purchase of all or part of
the 24,864,478 multiple voting shares and 29,921,308 subordinate voting shares
of Look Communications Inc. ("Look") that UBS holds indirectly through its
wholly-owned subsidiary, UBS Wireless Services Inc. These shares represent a
39.2% economic interest and a 37.6% voting interest in Look. The sales process
was run by Duff & Phelps Canada Restructuring Inc. in its capacity as monitor of
UBS under the Companies Creditors' Arrangement Act. 


A special committee of UBS's board of directors comprised of Messrs. Vic Wells
and Kenneth Taylor reviewed and considered all of the offers received pursuant
to the sales process and today announce that UBS has agreed to sell 12,430,000
multiple voting shares and 14,630,000 subordinate voting shares of Look to
2092390 Ontario Inc., a corporation controlled by Mr. Andrew Kim, subject to
approval of the Court. Further particulars of the agreement will be detailed in
materials to be filed with the Court seeking approval of the offer. If approved,
the transaction would be for approximately half of UBS's interest in Look.
Following the successful completion of the proposed sale, UBS will indirectly
own 12,434,478 multiple voting shares and 15,291,308 subordinate voting shares,
representing a 19.8% economic interest and a 18.8% voting interest in Look. 


The proposed transaction for the sale of the Look shares is conditional only
upon approval by the Court and receipt of all necessary regulatory approvals, if
any. The proposed transaction does not involve any non-arm's length parties to
UBS or its insiders and no finder's fees are payable. 


All communication relating to the sales process should continue to be directed
to the monitor. For more information, please contact Mitch Vininsky of Duff &
Phelps at [phone].


About Unique Broadband Systems, Inc.

UBS's shares are listed on the TSX Venture Exchange under the symbols "UBS".
More information on UBS can be found at www.sedar.com. 


The corporate information contained in this release includes forward-looking
statements regarding future events and costs that involve risks and
uncertainties that could cause actual results to differ materially. Assumptions
used in the preparation of such information, although considered reasonable by
UBS at the time of preparation, may prove to be incorrect. The actual results
achieved may vary from the information provided herein and the variations may be
material. Consequently, there is no representation by UBS that actual results
achieved will be the same in whole or in part as those forecast.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Unique Broadband Systems, Inc.
Grant McCutcheon
CEO
[phone]