Skype Users to Gain Access to Manhattan's Largest Wi-Fi Network

MIDDLETOWN, R.I., Dec. 15, 2011 (GLOBE NEWSWIRE) -- Towerstream
Corporation (Nasdaq:TWER), a leading 4G service provider and Wi-Fi
network operator, and Skype have partnered together to include
Towerstream's state-of-the-art Manhattan Wi-Fi network within the Skype
WiFi hotspot footprint.

Skype WiFi is a convenient, one-click way to get online at third party
wireless hotspots and pay by the minute using Skype Credit. Skype
customers, who currently have access to over one million hotspots
around the world, are now able to access the mobile internet with the
simple click of a button when roaming around the streets of Manhattan.
By using Skype WiFi on either a smartphone or computer, users can
browse the internet, check email, upload photos, and download music or
e-books, all at an affordable per-minute rate.

"By offering millions of Skype's customers access to Towerstream's
largest and fastest Wi-Fi network in Manhattan, users now have a great
alternative to today's congested networks," said Jeff Thompson,
Towerstream CEO. "Wi-Fi has emerged as the leading broadband technology
allowing users to truly receive the mobile experience devices are
capable of today. As a worldwide technology leader, Skype understands
the potential opportunity ahead for its customers and we are thrilled
to begin a long and prosperous partnership together."

"At Skype, we are committed to removing barriers to communication and
helping our users connect with those who matter most to them wherever
they may be," said Skype WiFi Product Manager Shadi Mahassel. "The
partnership to leverage Towerstream's Wi-Fi network advances this
mission by making it easier for Skype users in Manhattan to connect
with friends, family or colleagues on the go."

Click here for additional information on Skype WiFi:
http://www.skype.com/go/skypewifi

About Towerstream Corporation

Towerstream is a leading 4G service provider in the U.S., delivering
high-speed wireless Internet access to businesses. Founded in 2000, the
Company has established networks in over 12 markets including New York
City, Boston, Los Angeles, Chicago, Philadelphia, the San Francisco Bay
area, Miami, Seattle, Dallas-Fort Worth, Nashville, Las Vegas-Reno and
the greater Providence area where the Company is based. In 2011,
Towerstream launched its Manhattan Wi-Fi network geared towards mobile
operators, retail/daily deal providers and Wi-Fi operators. For more
information, visit our website at www.towerstream.com or follow us on
Twitter @Towerstream.

The Towerstream Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6570

About Skype

Skype is software that enables the world's conversations. Millions of
individuals and businesses use Skype to make free video and voice
calls, send instant messages and share files with other Skype users.
Every day, people everywhere also use Skype to make low-cost calls to
landlines and mobiles. Download Skype to your computer or mobile phone
at skype.com.

Safe Harbor

Certain statements contained in this press release are "forward-looking
statements" within the meaning of applicable federal securities laws,
including, without limitation, anything relating or referring to future
financial results and plans for future business development activities,
and are thus prospective. Forward-looking statements are inherently
subject to risks and uncertainties, some of which cannot be predicted
or quantified based on current expectations. Such risks and
uncertainties include, without limitation, the risks and uncertainties
set forth from time to time in reports filed by the Company with the
Securities and Exchange Commission. Although the Company believes that
the expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove
to be correct. Consequently, future events and actual results could
differ materially from those set forth in, contemplated by, or
underlying the forward-looking statements contained herein. The Company
undertakes no obligation to correct or update any forward-looking
statements, whether as a result of new information, future events or
otherwise.

CONTACT: Towerstream
MEDIA CONTACT:
Todd Barrish
646-396-6038
todd@indicatemedia.com

Towerstream
INVESTOR CONTACT:
Terry McGovern
415-902-3001
mcgovern@visionadvisors.net