Unique Broadband Systems files management information circular for special
meeting of shareholders

Board of Directors unanimously recommends that UBS shareholders vote against the resolution to remove the incumbent directors from office

TORONTO, May 31 /CNW/ - Unique Broadband Systems, Inc. (TSX Venture: UBS) announced today that it is mailing a management information circular dated May 30, 2010 to shareholders in connection with a special meeting of shareholders to be held at UBS' office in Milton, Ontario on July 5, 2010 at 9:00 a.m. The management information circular has been filed on SEDAR and will be available under UBS' company profile at www.sedar.com.

The special meeting was requisitioned on April 27, 2010 by an unidentified beneficial holder of 5,799,000 common shares of UBS, representing 5.6 per cent of UBS' 102,747,854 issued and outstanding shares, to have UBS shareholders vote on a resolution to remove the current members of UBS' Board of Directors from office and, if the resolution is adopted, to vote on a second resolution to fill the vacancies so created by the election of a slate of nominees to be proposed by the requisitioning shareholder.

The Board of Directors of UBS unanimously recommends that UBS shareholders vote against the resolution to remove the current Board of Directors. The reasons for the recommendation are set out in UBS' management information circular, which shareholders are urged to read.

In light of the failure by the requisitioning shareholder to identify itself or provide the names of its slate of nominees for election to UBS' Board of Directors, UBS was unable to include this information in its management information circular.

Georgeson Shareholder Communications Canada Inc. is acting as UBS' proxy solicitation agent in connection with the special meeting. Shareholders who have questions or require information with regard to the special meeting can contact Georgeson at 1-866-676-3029.

    
    About Unique Broadband Systems, Inc.
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UBS is a publicly listed Canadian company that currently has a 39.2 per cent economic interest in Look Communications Inc. and other assets. The Company's website may be found at www.uniquebroadband.com.

    
    About Look Communications Inc.
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Look's shares are listed on the TSX Venture Exchange under the symbols "LOK" for Multiple Voting Shares and "LOK.A" for Subordinate Voting Shares. Look's website may be found at www.look.ca.

    
    Forward looking statements
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The corporate information contained in this release includes forward-looking statements regarding future events and the future performance of the Company 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 the Company, at the time of preparation, may prove to be incorrect. The actual results achieved may vary from the information provided herein and the variations may be material. Consequently, there is no representation by the Company that actual results achieved will be the same in whole or in part as those forecast.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

%SEDAR: 00010550E

For further information: Peter Block, Investor and Media Relations, [email protected], [phone]