Towerstream Announces Management Changes

Towerstream Announces Management Changes

MIDDLETOWN, R.I., Dec. 5, 2012 (GLOBE NEWSWIRE) -- Towerstream Corporation
(Nasdaq:TWER), a leading 4G and Small Cell Rooftop Tower company, announced
that Mel Yarbrough had resigned his position as Chief Operating Officer
effective November 30, 2012. Mr. Yarbrough referenced direct family health
matters as the reason for his resignation.

"Mel made significant contributions to the growth and success of Towerstream
over the past 6 years," stated Jeffrey Thompson, President and Chief Executive
Officer. "He built our sales and marketing organization from the ground up
during his tenure.Our thoughts are with Mel and his family as they work
through these family matters."

About Towerstream Corporation

Towerstream (Nasdaq:TWER) is a leading 4G and Small Cell Rooftop Tower
company. The company owns, operates, and leases Wi-Fi and Small Cell rooftop
tower locations to cellular phone operators, tower, Internet and cable
companies and hosts a variety of customers on its network. Towerstream was
originally founded in 2000 to deliver fixed-wireless high-speed Internet
access to businesses and to date offers superior broadband services in over 12
urban 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. For more
information on Towerstream services, please visit www.towerstream.com and/or
follow us @Towerstream.

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, including,
without limitation, risk related to our ability to deploy and expand rooftop
tower locations in the New York City and other key markets. 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: MEDIA CONTACT:
         Todd Barrish
         Indicate Media
         646-396-6038
         todd@indicatemedia.com
        
         INVESTOR CONTACT:
         Terry McGovern
         Vision Advisors
         415-902-3001
         mcgovern@visionadvisors.net

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