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Air-Q Wi-Fi Begins Wi-Fi System Build-Out in First Market BATON ROUGE, La.--Aug. 7, 2003--Air-Q Wi-Fi Corporation (formerly Covenant Financial Corporation) (OTCBB:AQWF), a Wi-Fi (wireless fidelity) Internet access provider, announced today that it has begun the build-out of its first Wi-Fi Internet access system in Baton Rouge, La. Air-Q's first five "hot spots" are scheduled for completion before the end of August 2003, with beta customers testing the system simultaneously. A "hot spot" in Air-Q's Wi-Fi system is a transmission point that is connected directly to the Internet, either through a telephone line or cable television fiber, through which users' data travels. In Baton Rouge, Air-Q's hot spots will be tied directly to the Internet through the local cable operator's cable network. "Our progress in Baton Rouge has been more rapid than we had anticipated," said David Loflin, Air-Q's president. "Air-Q's agreement with the local cable operator to provide the necessary broadband fiber connection to the Internet at each of the Baton Rouge system's hot spots will allow us to accelerate the development of our Wi-Fi network," added Mr. Loflin. Mr. Loflin also noted that, when completed, Air-Q's Baton Rouge Wi-Fi system will feature approximately 100 hot spots and provide wireless Internet access to area business and residential customers throughout the city, as well as to visitors with Wi-Fi compatible laptop computers and other wireless devices. About Air-Q Wi-Fi Corporation Air-Q Wi-Fi Corporation (formerly Covenant Financial Corporation) is a development-stage company that has begun to establish its first wireless Internet access system in Baton Rouge, Louisiana. Air-Q's "Wi-Fi" Internet access systems will operate on a platform comprised of Wi-Fi standard equipment that has been configured in a proprietary manner. The term "Wi-Fi" (wireless fidelity) refers to an industry standard for wireless equipment that meets published 802.11(x) standards. Wi-Fi equipment operates in unlicensed spectra, such as 2.4 and 5.8 Ghz. Air-Q's business plan focuses on the marketing of its wireless Internet access services to businesses and residential customers, as well as to visitors to its markets with Wi-Fi compatible laptop computers and other wireless devices.