20-Time PGA Pro Golf Tournament Winner Joins Calypso Wireless' Advisory Board.

Business Editors/High-Tech Writers

MIAMI LAKES, Fla.--(BUSINESS WIRE)--May 1, 2003

Calypso Wireless Inc. (OTC:CLYW), the premier broadband wireless device and technology manufacturer that is making the cellular phones of the future today, announced today that Doug Sanders, a 20-time PGA Pro Golf Tournament winner has joined the company's advisory board.

Doug Sanders is a golf legend. He joined the PGA tour in 1957 and won 20 PGA Pro Tournaments. There have been only six golfers in the world that turned pro since 1957, who have won more than 20 PGA Tour championships. Today, Doug Sanders coaches individuals and companies to become winners by producing outstanding results.

"Doug Sanders will be a great addition to our advisory board. PGA Tournaments are being sponsored by some of the largest corporations in the world, including many telecommunications companies such as AT&T (NYSE:T) and Bell South (NYSE:BLS). As one of top ten golf masters of all time, Mr. Sanders is extremely well-connected among Fortune 100 CEOs and should be able to help us establish high-level relationships and potentially shorten our time-to-market in the U.S.," says Carlos Mendoza, President and Chief Executive Officer of Calypso Wireless.

Calypso startled the telecommunications world in February when it announced that it had signed a $500 million contract with China Telecom (NYSE:CHA) to deliver mobile phones and network systems. Calypso is able to deliver high-speed Internet access to mobile handsets at speeds that are up to 200 times faster than connection speeds available from some U.S. wireless carriers, including Nextel (Nasdaq:NXTL) and T-Mobile (NYSE:DT). This means that China Telecom customers will actually be able to utilize a new set of high value-added services such as two-way real time videoconferencing at the speed of 30 frames per second or wireless Internet access up to 50 times faster than cable broadband users have been accustomed to in the U.S.

"Calypso's technology is fascinating. Accessing Internet via cell phones is extremely slow today. Any graphic intensive content will take ages to download. Calypso's technology can enable speeds of 11,000 bytes per second, vs. just 9.6 bytes with some current U.S. carriers. This means that I could actually watch a DVD movie real-time on my laptop utilizing high-speed Internet access. Or, I could conduct a real-time video conference with my cell phone just by dialing their phone number. This makes current phones, with the ability to send still photos, extremely outdated or antiquated. I believe Calypso is 2-5 years ahead of its competitors, and may very well become the next standard in the Wi-Fi marketplace. I feel privileged to be involved with Calypso," says Doug Sanders.

Last week Calypso Wireless announced that it had signed an investment banking agreement with D.E. Wine Investments, which will assist Calypso Wireless with the raising of capital through the placement of its debt, equity, or other securities with individual, financial and/or strategic investors.

D.E. Wine Investments has a long track record of identifying potential winners in the telecommunications sector, companies with operations that are ready to take off and the ability to grow very rapidly in a short period of time with the right level of capital infusion. D.E. Wine has worked closely with a number of early stage companies that have become fundamentally strong industry leaders.

Duncan Wine, President and CEO of D.E. Wine Investments, has discovered many technology and healthcare gems early on, including Dynacq International and voice-mail pioneer, Boston Technology, which went public in the mid-eighties and saw its stock soar before being acquired in a major buyout by Comverse Technology.

D.E. Wine Investments anticipates that Calypso's new technology will create a revolution in the way telecommunications operators deploy. "Just as we predicted in the mid-eighties that voice mail would move to the central office switch, we think Calypso's technology will offer the widest range of services at the highest speeds using existing infrastructure. Gone are the days of spending billions of dollars on infrastructure at the expense of shareholders," says Duncan Wine, president of D.E. Wine Investments, Inc.

About Calypso

Calypso Wireless Inc., (CLYW) is an innovator and global leader in bringing broadband media to wireless handheld devices and cellular phones today. Its ASNAP(TM) technology solves problems inherent to seamless roaming between networks allowing the acceleration of the deployment of high bandwidth mobile handsets, PDAs, portable personal computers, notebooks and new emerging wireless form factors.

Calypso Wireless Inc. is headquartered in South Florida. For more information about Calypso Wireless and its products and services, please visit the company's Web site at http://www.calypsowireless.com.

D.E. Wine Investments Inc. is a Houston-based full-service brokerage and investment banking firm. The company's focus is helping its individual and corporate clients achieve their financial goals through personal attention, professional service and expert guidance. For more information on D.E. Wine, please visit the firm's Web site at: www.dewine.com, or call 281/586-9640.

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.