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New Management Inspires Calypso Team

Calypso Wireless has positioned the company to tackle the challenges of the dynamic wireless communication industry by integrating its patented ASNAP(TM) (Automatic Switching of Network Access Points) within the Wi-Fi and Cellular networks, for the benefit of users and carriers worldwide. "Calypso is working hard to facilitate communications, truly a basic human need, by improving wireless connectivity and speed for the benefit of consumers everywhere," said Ricardo Alvarez; fresh from a trip to Las Vegas where he and CTO Robert Leon accepted the 2004 Frost & Sullivan Wireless Switching Excellence in Technology of the Year Award on behalf of the Company.

In a bid to strengthen its management team and support key staff members Calypso has executed new employment contracts, including stock options and a full package of benefits, with Robert Leon, CTO, Jorge Olazabal, Director of Engineering, Ricardo Alvarez, CEO and others. "The management has concentrated their efforts in developing the Company's patented technology in order to move Calypso to the next level," said Robert Leon, Chief Technology Officer. "Ricardo Alvarez brings many years of management and international business development experience as well as a rich background in scientific and technical research," he added.

"We see Calypso playing the role of integrator in tackling the challenges of the wireless industry. Calypso will facilitate the interaction between Wi-Fi enterprises and Mobile Carrier Network organizations by using its patented ASNAP technology as the common denominator," said Jorge Olazabal, Director of Engineering at Calypso Wireless, Inc.

"Calypso has made substantial advancement in their effort to license its patented automatic wireless switching technology to device manufacturers and other key industry players worldwide. The deployment of our ASNAP™ technology can bring tremendous benefits to Carriers, ISP's and vendors in the wireless industry, including the ability to expand traffic within the existing infrastructure," said Ricardo Alvarez, recently designated as President and CEO of Calypso Wireless, Inc.

Calypso has recently strengthened its employee base and continues to focus on the development and deployment of the patented ASNAP™ technology for later this year.

About Calypso Wireless, Inc.

Calypso Wireless has been granted US Patent #6,680,923 titled "Communication system and method" Calypso's technology enables the users devise to automatically detect an available wireless local area network and then seamlessly switch between the signals from a GSM/GPRS link tower to a short range broadband network such as cable or DSL with Wi-Fi. Thus enabling real time video conferencing via phones or any mobile devise powered with Calypso's technology. The patent has given Calypso the rights to offer license agreements to major carriers as well as OEM's.

DISCLAIMER

This release is intended as a forward-looking statement within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to (i) The ability to provide technology in the future, (ii) Unexpected changes in the technology market, (iii) The success of the Company's expansion and sales and marketing strategies (iv) Competition within the Data Synchronization market (v) The ability of the Company to continue to finance its long-term strategy and expansion (vi) The ability of the Company to motivate and retain the services of its key personnel and hire additional qualified personnel to meet evolving staffing needs.