AWIN AERWINS Technologies Inc

Arch Wireless Fully Redeems 12% Notes With Optional Redemption of $20 Million WESTBOROUGH, Mass., May 28 /PRNewswire-FirstCall/ -- Arch Wireless, Inc. (NASDAQ:AWINNASDAQ:BSE:NASDAQ:AWL), a leading wireless messaging and mobile information company, today announced that its wholly owned subsidiary, Arch Wireless Holdings, Inc. ("AWHI"), has completed the optional redemption of $20 million compounded value of 12% Subordinated Secured Compounding Notes due 2009. Under terms of the 12% Notes indenture, holders of record as of May 13, 2004 received cash distributions in connection with the May 28 redemption. With completion of the $20 million optional redemption, AWHI has fully redeemed the 12% Notes it issued on May 29, 2002, based on a compounded value of approximately $112 million, and holds no long-term debt. "We are pleased to complete the redemption of the 12% Notes," said J. Roy Pottle, executive vice president and chief financial officer of Arch Wireless. "In doing so, we have repaid all of Arch's funded debt obligations over the past 24 months and now have a debt-free balance sheet. This is a significant accomplishment for Arch and enhances the company's financial strength in advance of our pending merger with Metrocall Holdings, Inc." The 12% Subordinated Notes trade in the over-the-counter market with the CUSIP number 039392-AB-1. Arch Wireless, Inc., headquartered in Westborough, Mass., is a leading wireless messaging and mobile information company with operations throughout the United States. The company offers a full range of wireless messaging services to business and consumers nationwide, including paging, two-way wireless e-mail and messaging and mobile data solutions for the enterprise. Arch provides wireless services to customers in all 50 states, the District of Columbia, Puerto Rico, Canada, Mexico and in the Caribbean principally through its nationwide sales force, as well as through resellers, retailers and other strategic partners. Additional information on Arch Wireless is available on the Internet at http://www.arch.com/. Contact: Bob Lougee (508) 435-6117 DATASOURCE: Arch Wireless, Inc. CONTACT: Bob Lougee of Arch, +1-508-435-6117 Web site: http://www.arch.com/

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