Speedus Announces Stock Repurchase Program

Speedus Announces Stock Repurchase Program 


NEW YORK, May 31  /PRNewswire-FirstCall/ -- Speedus Corp. (NASDAQ:SPDE) today
announced that its Board of Directors has approved a stock repurchase program
for up to $1 million of the Company's common stock. Under a prior repurchase
program, the Company had repurchased 5.4 million shares of its Common Stock for
an aggregate cost of $5.5 million.

Under the program, the Company may repurchase shares from time to time in open
market transactions, as well as privately negotiated transactions and block
purchases. The timing and terms of the purchases will be determined by
management based on market and business conditions at the time, subject to
applicable securities laws. This announcement is not a request or offer for
tender of shares to the Company.

About Speedus Corp.

Speedus Corp. is a holding company with controlling interests in Zargis Medical
Corp. and F&B Gudtfood Holdings, Inc. Speedus Corp also owns broadband
intellectual property and controls licensed wireless frequencies. Additional
information on Speedus Corp. and its services may be obtained at
http://www.speedus.com/ or by contacting John Kallassy at 888-773-3669 (ext.
22) or .

Statements contained herein that are not historical facts, including but not
limited to statements about the Company's product, corporate identity and
focus, may be forward-looking statements that are subject to a variety of risks
and uncertainties. There are a number of important factors that could cause
actual results to differ materially from those expressed in any forward-
looking statements made by the Company, including, but not limited to, the
continuing development of the Company's sales, marketing and support efforts. 

DATASOURCE: Speedus Corp.



CONTACT:  John Kallassy of Speedus Corp., [phone], ext. 22, or

 



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

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