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Superwire, Inc. Receives Multi-Million Dollar Independent Valuation of Golden Rain Foundation Contract

Superwire, Inc. , an integrated broadband services company delivering voice, video and high-speed Internet to multi-tenant properties, small to medium sized businesses and consumer markets, announced today that it has received an independent valuation from Seaboard Group www.seaboardgroup.com)"> of its 15-year exclusive contract to provide integrated telecommunications services to the Golden Rain Foundation community, Leisure World Seal Beach. This pivotal contract was first announced by a press release on February 19 of this year. Seaboard Group's valuation opinion was rendered as of June 1, 2004 and, assuming the accuracy of the financial projections and other assumptions set forth therein, finds that the economic value of the contract is in the range of $21 million to $25 million.

In addition, as a result of the valuation opinion and analysis from Seaboard Group, the company has revised its forecasted revenues from the contract upward to $103 million from $77 million.

"This valuation confirms the significance to our company of the Golden Rain Foundation contract and the exciting prospects of pursuing triple play service agreements for retirement and other gated communities. The valuation process helped the company review its projections and bring them more in line with industry standard revenue expectations," stated Tighe Merelli, CEO of Superwire, Inc. and Superwire Telecom, Inc. He added, "Based upon our current outstanding share count of approximately 86 million and the valuation set forth in this opinion, this contract alone values the stock at approximately $.27 per share."

Under the agreement, Superwire, through its wholly owned subsidiary, Superwire Telecom, Inc. will provide integrated voice, data and video services to the 8,500 residents of LWSB. Service availability for Voice, Data and Broadband Internet is expected to commence at the end of the summer 2004 with video services commencing no later than early 2007. Mr. Merelli commented, "We hope this agreement is the first of many as we are continuing to pursue triple play voice, data and video solutions for additional retirement and gated communities throughout the United States. Subsequent to our announcement of our agreement with Golden Rain Foundation, numerous additional communities have expressed interest in similar arrangements."

"We are excited to offer retirement communities an opportunity to partner with us in order to save expenses on voice, data and video services through cooperative purchasing while at the same time giving the residents an active voice in the composition of these services and localized service and support," stated James W. Truher, Chairman of the Board of Directors of Superwire, Inc. and Superwire Telecom, Inc.

A summary of the valuation can be found on the Superwire, Inc. website at www.superwire.com/sa.pdf.

About Superwire, Inc.

Superwire, Inc. provides broadband local loop solutions including high-speed Internet, local telephone and long distance to office buildings, MDU tenants and individual subscribers by provisioning next generation broadband access and transport technologies directly to the subscribers. Superwire's business model capitalizes on the economics derived through the provision of convergent voice, data and video services over a single telecommunications access facility.

About Superwire Telecom, Inc.

Superwire Telecom, Inc. is a wholly owned subsidiary of Superwire, Inc. This subsidiary will exclusively service the agreement with Golden Rain Foundation for the community at Leisure World Seal Beach.

About Seaboard Group

For information regarding Seaboard Group, please visit www.seaboardgroup.com

Safe Harbor Statement -This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or if they prove incorrect, could cause the results of Superwire, Inc. to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief, opinions as to value based upon financial projections, and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties. Superwire, Inc. assumes no obligations and does not intend to update these forward-looking statements.