UBS announces that Look has retained Greenhill to assist in reviewing strategic options for maximizing shareholder value

Unique Broadband Systems, Inc. (TSX Venture: UBS) announces that Look Communications Inc., (TSX Venture: LOK and LOK.A) its subsidiary, issued a news release today announcing that Look had retained Greenhill & Company to assist in the strategic repositioning of Look and to assist in maximizing shareholder value.

"Look is uniquely positioned to take advantage of the exploding wireless communications market in Canada with its 92 MHz of licensed spectrum in the 2.5 GHz band and its broadcasting license in Ontario and Quebec. UBS is very supportive of Look's initiative and looks forward to the outcome of the process," said Gerry McGoey, Chairman and CEO of UBS.

There can be no assurance that the review will result in any specific strategic or financial transaction.

About Unique Broadband Systems, Inc.

UBS is a publicly-listed Canadian company that has a 51% economic interest in Look Communications Inc., intellectual property and other assets. With its licensed spectrum through Look Communications, UBS is a Canadian digital television broadcaster and broadband wireless service provider. The Company's web site may be found at www.uniquebroadband.com.

About Look Communications Inc

Look's mission is to be an M3 - Mobile Multi Media - entertainment and information service provider in Ontario and Québec. The Company is developing an M3 - Mobile Multi Media network and currently delivers a full range of communications services, including high-speed and dial-up Internet access, Web applications, digital television distribution and superior customer service to both the business and residential markets. Look shares are listed on the TSX Venture Exchange under the symbols "LOK" and "LOK.A".

The corporate information contained in this release contains forward-looking statements regarding future events and the future performance of Look that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by Look at the time of preparation, may prove to be incorrect. The actual results achieved will vary from the information provided herein and the variations may be material. Consequently, there is no representation by UBS that actual results achieved will be the same in whole or in part as those forecasted.

Readers of this press release are referred to Look's news release of October 24, 2006, regarding its announcement of the retention of Greenhill & Company.

No stock exchange or regulatory authority has reviewed or accepts

responsibility for the adequacy or accuracy of this release.

%SEDAR: 00010550E

For further information: Peter Block, Investor and media relations, (416) 586-0180, E-mail: irinfo@uniquebroadband.com

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