Towerstream to Report Third Quarter 2009 Financial Results on November 4, 2009

MIDDLETOWN, R.I., Oct. 26, 2009 (GLOBE NEWSWIRE) -- Towerstream (Nasdaq:TWER), a leading wireless Internet service provider, announced that it will report its results for the third quarter ended September 30, 2009 on November 4, 2009, following the market close. A conference call to discuss results of the third quarter 2009 will be held on November 4, 2009 at 5:00 p.m. ET, during which Chief Executive Officer, Jeff Thompson, and Chief Financial Officer, Joseph Hernon, will review the Company's financial results and provide an update on current business developments.

Investors and other interested parties may access the earnings call as follows:

 Dial-in numbers:   888-205-6439, for U.S. callers;
                    913-312-0697 for international callers
 Internet:          An audio webcast is accessible at
                    http://ir.towerstream.com/events.cfm
 Telephone replay:  Wednesday, November 4, 2009 at 8:00 p.m. ET until
                    Thursday, November 12, 2009 at midnight ET
 Dial in number:    888-203-1112 for U.S. callers; 719-457-0820 for
                    international callers;
                    passcode 6802497 for all callers

About Towerstream

Towerstream is a leading fixed WiMAX service provider in the U.S., delivering high-speed Internet access to businesses. Founded in 2000, the Company has established networks in nine markets including New York City, Boston, Los Angeles, Chicago, the San Francisco Bay Area, Miami, Seattle, Dallas-Fort Worth, and the greater Providence area where the Company is based. The Company was the first carrier selected to join the WiMAX Forum to assist leading vendors in establishing industry compliance with international broadband wireless access standards and cross-vendor interoperability. Towerstream was awarded two 2008 Telephony Innovation Awards for Most Innovative Broadband Wireless Service and Most Innovative Small Business Service and the Best of WiMAX World 2008 Service Provider Deployment Award for its New York City network.

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

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

          Dukas Public Relations
          MEDIA CONTACT:
          Amanda Lordy
          212-704-7385
          Amanda@dukaspr.com