[September 03, 2014]

Straight Path Communications Hires CTO to Lead the Charge to 5G

Straight Path Communications Inc. (NYSE MKT: STRP), today announced the hiring of Jerry Pi as CTO of Straight Path Communications and its wireless spectrum licensing subsidiary, Straight Path Spectrum (News - Alert).

Prior to joining Straight Path, Mr. Pi was a Senior Director at Samsung Research America focusing on system research, standardization, and prototyping activities in 4G (LTE (News - Alert) and mobile WiMax) and 5G.

Mr. Pi is at the forefront of the development of millimeter wave 5G, both as co-inventor of one of the world's first 5G related inventions and as co-author of several groundbreaking journal articles on millimeter wave mobile communication. He led the development of the 5G baseband and RF system prototype that successfully demonstrated the feasibility of 5G mobile communication at 28 GHz. He has authored more than 30 technical journal and conference papers and is the inventor of more than 150 patents and applications.

Before joining Samsung in 2006, Mr. Pi was with Nokia (News - Alert) Research Centers where he was a leading contributor to Nokia's 3G wireless standardization and modem development efforts for 3GPP2 1xEV-DV, 1xEV-DO, and Ultra Mobile Broadband (UMB) systems.

Davidi Jonas, Straight Path CEO, commentd, "Jerry brings to Straight Path his extensive experience of technical innovation and industry vision, and an uncommon entrepreneurial flair. Jerry would be a top recruit at any leading technology company, and it is a testament to the bright future and dynamic position of STRP that Jerry has decided to become our CTO."

Jonas added, "As we continue to execute on our near, mid, and long term business goals, Jerry will be an invaluable addition to our team, helping to ensure that our thought leadership and market strategy will unlock great value from our nationwide, unparalleled spectrum assets. We plan for our 39 GHz holdings to be the premier frequency for millimeter wave 5G mobile communication, and our new CTO is an excellent choice to help us achieve that goal."

Mr. Pi holds a B.E. degree from Tsinghua University (with honors), a M.S. degree from Ohio State University, and an MBA degree from Cornell University (with distinction). He is a Senior Member of IEEE (News - Alert).

About Straight Path Communications Inc.

Straight Path (NYSE MKT: STRP) leases its extensive holdings of 39 and 28 GHz fixed wireless spectrum licenses through its Straight Path Spectrum subsidiary. Straight Path holds and licenses certain patent rights through its Straight Path IP Group subsidiary.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate, "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent Form 10 filing (under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"), which may be revised or supplemented in subsequent reports on SEC (News - Alert) Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

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