Corridor Communications Corp. Completes Financing for $2.55 Million

Corridor Communications Corp. Completes Financing for $2.55
Million 


MOUNTAIN VIEW, Calif., July 23  /PRNewswire-FirstCall/ -- Corridor
Communications Corp. (OTC:CORR) (BULLETIN BOARD: CORR) ("Corridor"), announced
today that it has closed on a $2.55 million preferred stock financing. Under
the terms of the financing, investors purchased 1,457 shares of Series A
Convertible Preferred Stock, in a private placement at a per share purchase
price of $1,750. The investors will also receive warrants to purchase 87,500
shares of common stock for each share of preferred stock purchased. Corridor
intends to use the net proceeds from the financing to fund acquisitions and for
general corporate purposes.

The shares of Series A Convertible Preferred Stock are convertible into shares
of common stock.  The investors shall be entitled to receive cumulative
dividends at the rate 10% per annum during the first year after closing and 12%
per annum thereafter.  The warrants will expire five years from the date of
issuance.

Corridor is required to register for resale by the investors the common stock
issuable upon the conversion or exercise, as the case may be, of the Series A
Convertible Preferred Stock and the warrants under the Securities Act.

Corridor was represented by Sichenzia Ross Friedman Ference LLP in this
transaction.

About Corridor Communications Corp.

Headquartered  in Mountain View, California with Operations in Salem, Oregon,
Corridor Communications, Inc. is an integrated wireless Internet service
provider (WISP) offering voice, and high speed Internet, to residents and
businesses. Corridor plans to implement a growth-through-acquisition strategy
by targeting small to mid size Dial Up Internet Service Providers (ISP) in
areas underserved by current broadband options.  The growth strategy will also
focus on creating partnerships with existing hot spot management companies
while building company owned hotspots to create ubiquitous coverage or "Hot
Zones" that encompass entire cities.

Corridor's IP-Based technology supports all hardware meeting Wi-Fi 802.11(x)
standards operating in an unlicensed spread spectrums (2.4 GHz and 5.7 GHz),
and can be deployed far less expensively than comparable copper and cable
technologies. For more information about Corridor Communications, please visit
Corridor's web site at http://www.corridorcommunications.com/

"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995:  This release contains forward-looking statements that are subject to
risks and uncertainties, including, but not limited to, the impact of
competitive products and pricing, product demand and market acceptance, new
product development, reliance on key strategic alliances, availability of raw
materials, the regulatory environment, fluctuations in operating results and
other risks detailed from time to time in Corridor's filings with the
Securities and Exchange Commission. Our forward-looking statements are based on
currently available information which management has assessed but which is
dynamic and subject to rapid and even abrupt change due to risks and
uncertainties that affect our business, including the unpredictability of
future revenues and limited visibility into future demand on which to base our
forecasts; the current uncertainty in our marketplace which may impact expected
demand, customer selection criteria and sales cycle; our ability to execute on
product deliverables and major customer contracts, slower economic growth
generally, slower adoption of broadband technology, or cutbacks in information
technology spending; and factors beyond our control such as power outages or
work stoppages at key customers.

  CONTACT:
   Scott Mac Caughern
   Corridor Communications Corp.
   650 961-5707 or 

DATASOURCE: Corridor Communications Corp.



CONTACT:  Scott Mac Caughern of Corridor Communications Corp.,

[phone], or 



Web site:  http://www.corridorcommunications.com/ 

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