Platinum Terminates Xpanserv Acquisition

Platinum Communications Corporation (TSX-V: PCS) announced today that it has been unable to reach an agreement on satisfactory commercial terms with 1574002 Alberta Ltd. o/a XpanServ (“XpanServ”), a Wireless Internet Services Provider (“WISP”), and will not be proceeding with the previously announced acquisition of XpanServ’s assets and customers.

Platinum continues to investigate other accretive business opportunities in its markets while it successfully integrates its three previously announced acquisitions – MyCanopy, AlbertaHighSpeed and Community Networks.

ABOUT PLATINUM COMMUNICATIONSPlatinum Communications Corporation (TSX-V: PCS) is a leading provider of superior quality fixed wireless Internet and Broadband solutions in Alberta serving more than 13,000 customers. Based in Calgary, Platinum operates a custom-built wireless broadband network that utilizes Next-Generation WiMax technology to bring fast, reliable and affordable Internet services and digital phone solutions to residents and businesses across the Province using licensed and unlicensed spectrum that extends from the north of Grande Prairie to the Alberta/US border and from Medicine Hat to Banff. Platinum caters to urban, rural and remote markets that are often beyond the reach of traditional Internet providers. For more information, please visit our website at www.platinum.ca or call 403-301-4591.

This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors or uncertainties, many of which are beyond Platinum's control. Some of these risks and uncertainties may be described in Platinum's corporate filings (posted at www.sedar.com). Platinum has no intention or obligation to update or revise any forward-looking statements due to new information or events. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    
      
        
          Bernard Parkinson, CEO
        
        
           
        
        
          Katherine Kirkup, CFO
        
        
        
      
      
        
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Source: Platinum Communications Corporation (PCS) http://www.platinum.ca