MIDDLETOWN – Towerstream Corp. (OTCBB: TWER.OB), a provider of WiMax broadband services, today announced it has received approval from the Nasdaq Listings Qualifications department to begin trading on the Nasdaq Capital Market under the symbol TWER.

The company’s common stock began trading on the NASD over-the-counter bulletin board on Jan. 26. It will continue to trade there, under the symbol TWER.OB, until the market’s close the night before it begins trading on the more prestigious Nasdaq Capital Market, formerly known as the Nasdaq SmallCap Market. “We are pleased to have received approval for listing on the NASDAQ Capital Market, where we will be among many leading early-stage technology companies,” Towerstream President and CEO Jeff Thompson said in a statement today.

“We believe that the transition … will improve the visibility in our stock with the investment community, enhance trading liquidity in our shares and provide Towerstream with greater exposure to a broad base of institutional investors.”

Company spokesman Mike Bush, of Dukas Public Relations, called the approval “one of many exciting developments already under way in 2007.” He noted that the company has continued to expand, launching networks in Seattle and Miami earlier this year.

Towerstream Corp. (OTCBB: TWER.OB) is a provider of WiMax wireless broadband services to businesses of all sizes in the New York, Chicago, Miami, Los Angeles, San Francisco, Seattle, Boston and Providence/Newport markets. Additional information is available at www.towerstream.com.