TORONTO, Aug. 7 /CNW/ - Alex Dolgonos ("Dolgonos") announces that 2064818 Ontario Inc., a corporation wholly-owned by The Dolgonos 2005 Family Trust, has converted 11,305,332 Class A Non-Voting Shares of Unique Broadband Systems, Inc. into an equivalent number of common shares of that corporation. The 11,305,332 common shares represent approximately 11% of the 102,747,854 common shares of Unique Broadband Systems, Inc. now issued and outstanding. Dolgonos, as sole trustee of The Dolgonos 2005 Family Trust, retains voting control over these shares.

As a result of the conversion, Dolgonos has control or direction over an aggregate of 20,159,755 common shares of Unique Broadband Systems, Inc., representing approximately 20% of the issued and outstanding shares of that corporation. In addition, Dolgonos controls stock options in respect of 4,000,000 common shares of Unique Broadband Systems, Inc. The 11,305,332 Class A Non-Voting Shares which were converted into common shares represented 100% of the issued and outstanding Class A Non-Voting Shares of Unique Broadband Systems, Inc.

Dolgonos holds these securities for investment purposes only and may acquire additional securities or dispose of his beneficial ownership, control or direction over these securities as circumstances or market conditions warrant or arise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

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