(16 June 2006 2:30 pm)

MUMBAI: The Colorado-headquartered Sunrise Broadband Group, Inc. has said that it has entered into an investment agreement with Dutchess Private Equities Fund, LP, a Delaware limited partnership whereby Dutchess is committed to purchase up to twenty-five million dollars (US$25,000,000) of Sunrise Broadband's common stock, subject to the terms and conditions of the agreement.

"The Dutchess agreement allows management to close on targeted rural cable television systems and to complete the network upgrades to offer Voice Over Internet Protocol, high-speed Internet and digital video services," says Sunrise Broadband's CEO Calvin D. Smiley, Sr.

The deal with Duchess requires that Sunrise Broadband file a registration statement with the Securities and Exchange Commission, become fully reporting and register the underlying securities. The approval of the registration statement will activate the agreement with Dutchess, states an official release.