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Aether Engages FBR As Financial Advisor in Strategic Evaluation Process

March 1, 2004

Aether Systems, Inc. announced on February 26 that it has retained Friedman, Billings, Ramsey & Co., Inc. ("FBR") to advise the company in exploring a range of strategic options. The company said that FBR will assist Aether management and its board of directors in evaluating possible options that include acquisitions of new or complementary businesses, additional divestitures, investment strategies, or other strategic initiatives. By engaging FBR, Aether said, the company hopes to both accelerate its previously announced goal of reaching profitability as well as adopting a longer-term strategy to enhance the value of its assets for shareholders. "Following the recent sale of our Enterprise Mobility Solutions division, Aether is faced with some important decisions in terms of how to best serve our shareholders and leverage our existing assets," said Chairman and CEO David Oros. "We believe that FBR's experience and expertise will assist us in deciding how best to maximize our two operating businesses, our significant cash balances, and our substantial accumulated net operating losses."
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