Press release

GigNet, Inc. is New Corporate Name for Cobalt Holdings, Inc.

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Sponsored by Businesswire

Cobalt Holdings, Inc. announced today that it has adopted “GigNet, Inc.”
as its new corporate name, reflecting the highly successful branding
efforts of its GigNet telecommunications company in the Mexican
Caribbean.

“Effective today, we are now GigNet, Inc.,” said Chairman & CEO Paul A.
Moore. “This exciting change aligns the entire company with a single
focus on the strong brand and market position we have established with
GigNet in Mexico, and simplifies our messaging and positioning to our
customers, partners, and investors. Put simply, we have moved from a
development company to an operating company. GigNet’s new corporate
website address is www.GigNetInc.com.

Moore said the Company recently completed a 200-kilometer fiber-optic
network from Playa Mujeres to Cancun to Tulum, along with a local sales
office and Network Operations Center (NOC), to sell managed broadband
solutions to its hospitality and enterprise customers. “We are setting a
new international standard in the market for single-source broadband,
Internet, WiFi, and security solutions to our customers. We are
providing fully redundant dedicated – not shared – bandwidth to our
customers, with guaranteed up time and local, 24/7 multi-lingual
customer support.

“Our disruptive market solution includes offering up to 1 Gig to each
hotel property with fiber-to-the-premise and a seamless roaming WiFi
solution – with no capital investment by hotel owners, in exchange for a
small per-room, per-day fee. Our managed service solves the number one
complaint of hotel guests – bad WiFi. Our solution is resulting in
higher social media reviews for hotels, which, in turn, can mean higher
room rates. Our advanced technology also enables hospitality customers
to take better advantage of video streaming, cyber security, mobile
apps, and other hospitality innovations that improve customer
satisfaction and enhance hotel bottom lines. This is unique to the
region and differentiates us from our competitors,” Moore added.

GigNet is planning additional marketing branding and sales initiatives
in Mexico to further strengthen its already strong market presence.
Recently, GigNet’s fiber-optic network was uninterrupted by a massive
power outage affecting the entire Yucatan Peninsula. And it is expanding
enhanced cyber security services to its managed services portfolio,
partnering with Washington D.C. Good Harbor Risk Management, LLC, headed
by cyber security expert and author Richard A. Clarke, who also is
joining GigNet’s Corporate Senior Advisory Board.

About GigNet: GigNet is the Mexican Caribbean brand of GigNet,
Inc. Through its Mexico operating subsidiaries, Cobalt Broadband
Services S.A. de C.V. and Sanalto Redes Peninsular, S.A.P.I. de C.V.,
the Company is a fully licensed telecommunications provider in Mexico.
The Company has completed a 200-kilometer fiber-optic broadband network
in the Mexican Caribbean, one of the largest and fastest growing tourism
destinations in the world, with over 160,000 hotel rooms and over 23
million annual airport visitors.