Towerstream Signs 100+ Contracts in December

Middletown, RI. , January 8, 2008 – Towerstream (NASDAQ: TWER), a leading fixed wireless Internet provider currently operating in eight major metropolitan areas, today announced that for the first time in its history, the Company has signed more than 100 contracts in a month. "When we first launched Towerstream in 2001, it took us 13 months to hit the 100 contract mark – and now we’ve reached this milestone in just the month of December," said Jeff Thompson, President and CEO of Towerstream. "I think this kind of growth comes down to listening to your customers and providing the right product at the right prices, as seen in the success of our 8MB product for only $999.00."

"The team has done a terrific job in presenting the benefits of the Towerstream product offerings," said Mel Yarbrough, Vice President of Sales. "During December more than 40 of our sales representatives produced revenue, which is an impressive accomplishment given that we only had 15 sales representatives when I joined Towerstream at the end of April 2007. We feel our recruiting process is targeting more experienced candidates resulting, overall, in more productive hires. This, coupled with a solid training program, enables our sales team to produce revenue more quickly than anytime in our history."

The first sales training class of 2008 will bring Towerstream’s sales team to 100 representatives. By the end of Q1, Towerstream expects the sales team to grow to approximately 120 members.

"Over the next 180 days, a significant portion of our sales representatives will become mature quota producing team members," added Thompson. "In less than 9 months we have grown our sales force more than 660% -- increasing from 15 representatives to 100. With this large percentage increase successfully behind us, we are now focused on ramping per person sales productivity. Subsequently, I feel confident Mel and his team will continue to improve our metrics as they have already proven their ability to scale a large sales force and provide impressive results."

Towerstream offers businesses a range of bandwidth options to choose from, including T1, T3, 100 and 1000 Mbps connections as well as service reliability backed by an industry-leading Service Level Agreement (SLA) and a no-risk, money-back guarantee. Towerstream’s fixed wireless broadband network delivers high-speed Internet access supporting VoIP, bandwidth on demand, wireless redundancy, VPNs, disaster recovery, bundled data, and video services, and can be delivered in days. Companies utilizing multiple appliances simultaneously, such as streaming video and VoIP, can prioritize their bandwidth to secure mission-critical activities. Towerstream currently serves businesses of all sizes in New York, Chicago, Miami, Los Angeles, Seattle, Boston, the San Francisco Bay Area and Providence/Newport, RI.

About Towerstream

Towerstream is a leading fixed WiMAX service provider in the U.S., delivering high-speed Internet access to businesses. Founded in 2000, the company has established networks in such markets as New York City, Los Angeles, Miami, Chicago, Seattle, the San Francisco Bay Area, and the greater Boston, Providence and Newport, R.I. areas, and continues to expand coverage throughout the country. The company was the first carrier selected to join the WiMAX Forum to assist leading vendors in establishing industry compliance with international broadband wireless access standards and cross-vendor interoperability. For more information on Towerstream, please visit their website at: http://www.towerstream.com.

Safe Harbor

Certain statements contained in this press release are “forward-looking statements” within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward the forward-looking statements contained herein. The company undertakes no obligation to publicly release statements made to reflect events or circumstances after the date hereof.

MEDIA CONTACT:
Kristin Conforti
Dukas Public Relations
516-320-6839
Kristin@dukaspr.com [1]

INVESTOR CONTACT:
Terry McGovern
Vision Advisors
415-902-3001
mcgovern@visionadvisors.net [2]