Redwood Shores, Calif. - August 03, 2006 - MetricStream, Inc., a market leader in the enterprise-wide compliance and quality management market today announced that Pegasus Wireless (NASDAQ:PGWC), a leading provider of advanced wireless solutions, has selected its solution for sustainable and cost-effective compliance with the Sarbanes-Oxley Act and ISO quality standards. With this selection, Pegasus Wireless has taken a significant step towards consolidating all compliance programs and managing regulatory requirements in an integrated and consistent manner.

"Pegasus began trading on the NASDAQ Global Market in April of this year", said Jasper Knabb, President and CEO, Pegasus Wireless. "Operating as a young public entity in a highly competitive market, we wanted to select a partner that would enable us to meet our immediate Sarbanes-Oxley 404 and ISO compliance requirements rapidly and in a cost-effective manner. MetricStream met that criteria extremely well and we selected it as the foundation for all our compliance initiatives,"

MetricStream will enable Pegasus Wireless to gain real-time visibility into their key compliance processes and reduce their risk of noncompliance. MetricStream SOX*Stream will enable them to document their processes and controls in a central repository, test the effectiveness of internal controls and use that information to drive appropriate disclosure and remediation processes to achieve compliance with Sarbanes-Oxley Act 404. The MetricStream Quality*Stream solution will support the implementation of the ISO standards and enable them to streamline other operational compliance initiatives in the future.

"We are pleased that Pegasus Wireless selected us and we look forward to working closely with them to make their MetricStream implementation a success," said Shellye Archambeau, CEO of MetricStream. "This selection is another proof point that companies continue to partner with MetricStream to rapidly streamline their compliance initiatives."

About Pegasus Wireless Corporation
Pegasus Wireless Corporation is a leading provider of advanced wireless solutions. The company offers cutting edge wireless products used in computer networking, industrial data transmission and multimedia applications. Pegasus Wireless Corporation can be contacted at: (510) 490-8288 or by visiting their website at www.pegasuswirelesscorp.com.

About MetricStream

MetricStream, the independent market leader in enterprise and cloud applications for Governance, Risk, Compliance (GRC) and Quality Management, makes GRC simple. MetricStream apps improve business performance by strengthening risk management, corporate governance, regulatory compliance, vendor governance, and quality management for hundreds of thousands of users in dozens of industries, including Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-Tech and Manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and R&D center in Bangalore, India, and sales and operations support in 12 other cities globally. (www.metricstream.com).

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