[September 02, 2014]

Federated Wireless Names Iyad Tarazi as Chief Executive Officer

Federated Wireless, which develops technologies to maximize the utilization of spectrum resources, today named Iyad Tarazi, the former Sprint (News - Alert) Corp. executive who spearheaded that company's Network Vision network modernization project, as its new Chief Executive Officer.

Iyad Tarazi was Vice President of Network Development at Sprint, overseeing the development and integration of new products and technologies within Sprint's networks and managing Sprint Nextel's (News - Alert) technology integration labs. Prior to the Sprint-Nextel merger, he led Nextel's Network Engineering organization, managing network planning, integration performance engineering, testing, and core deployment initiatives. He has also held positions with MCI and serves as a Board member for CafeX Communications, which specializes in collaborative software development.

Tarazi's experience designing Sprint's network provides him with a strong understanding of the challenges that carriers, and the broader wireless industry, face in managing and maximizing the use of spectrum. An explosion in the use of wireless communications, and in particular video content delivery, has led to a growing deficiency in spectrum and prompted federal users as well as commercial carriers to seek ways of better utilizing this scarce resource.

Federated Wireless has been an active participant in the rulemaking process managed by the U.S. Federal Communications Commission to address this issue, and is building a proprietary Spectrum Access System (SAS (News - Alert)) that leverages advanced cognitive radio techniques to provide secure, dynamic and efficient sharing of spectrum resources.

"Federated Wireless has an opportunity to play a major role in creating the architecture of the next generation of wireless," Tarazi said. "The company has built the technologies and techniques that will allow us to protect national security and share spectrum between multiple users outside of the government. This will enable more investment in wireless, and allow us to realize the full economic and commercial value of this important resource."

The SAS developed by Federated Wireless, known as Spectrum (News - Alert) Director, allows three tiers of access to spectrum by minimizing the exclusion zones that result from concentrations of radar sysems along U.S. coasts and managing interference; optimizing spectrum usage amongst multiple user groups; and providing essential levels of security and obfuscation to enable the highest and best use of the scarce resource. This makes it possible to open up more spectrum for commercial services in the locations and times needed to deploy a viable nationwide network than what could be enabled by other SAS providers.

The FCC (News - Alert) has designated two frequency bands as "Fast Track" spectrum for commercial use. Virginia-based Federated Wireless has provided proposals for a three-step licensing model and system architecture, incorporating large parts of the Revised Framework as proposed by the FCC.

"The addition of Iyad Tarazi to Federated Wireless' world-class technology team reinforces our belief that the company is poised to be a leader in the growth of mobile broadband and the development of 5G (fifth generation) cellular communications," said John Serafini, Vice President at Allied Minds, the primary investor in Federated Wireless.

More information about the company's products, as well as copies of its filings to the FCC, can be found at www.federatedwireless.com. Federated Wireless is a subsidiary of Allied Minds (LSE: ALM).

About Federated Wireless

Founded in 2012, Federated Wireless was formed around groundbreaking technologies originating from Virginia Tech and backed by investors, Allied Minds. The company addresses the changing needs of wireless communications from a unique perspective of supply, demand and the appropriateness of solutions for various problems, combining world-class expertise in cognitive radio with advanced analytics to enhance the performance of mobile broadband networks, improving capacity through higher spectrum utilization and optimizing the flow of data. More information can be found at www.federatedwireless.com.

About Allied Minds

Allied Minds (LSE: ALM) is an innovative U.S. science and technology development and commercialization company. Operating since 2006, Allied Minds forms, funds, manages and builds products and businesses based on innovative technologies developed at leading U.S. universities and federal research institutions. Allied Minds serves as a diversified holding company that supports its businesses and product development with capital, central management and shared services. More information about the Boston-based company can be found at www.alliedminds.com.

Allied Minds Forward-Looking Statement

This press release contains statements that are or may be forward-looking statements, including statements that relate to the company's future prospects, developments and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risk and uncertainties described in the risk factors included in the company's regulatory filings. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law, regulatory requirement, the Listing Rules and the Disclosure and Transparency Rules, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

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