5G Wireless Purchases 30% Of Skyhub Asia.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--May 30, 2001

The Board of Directors of 5G Wireless Communications, Inc. (OTCBB:FGWC) is pleased to announce a 30% purchase of the capital stock for Skyhub Asia Holdings Limited.

Under the terms of this purchase, 5G shall provide US$1 million (one million dollars) in financing for expansion of Skyhub's network. The 30% acquisition of Skyhub Asia Holdings Limited will provide 5G Wireless Communications, Inc., customers with an enhanced wireless last mile solution. 5G also retains an option to purchase a further 20% stake in the company.

5G CEO/President, Michael Tan expresses that "Skyhub will provide 5G with a satellite infrastructure that will allow 5G to rapidly deploy wireless solutions over a wide geographical area in Asia, Europe, India and Australia. Furthermore, Skyhub will enable 5G to increase market penetration by providing this geographical region with an innovative and economical communications solution. 5G will be able to offer a seamless service to its customer base, delivering both infrastructure as well as bandwidth, a "One Stop Shop" concept."

Mr. Terrance Yap, (Executive Director of Skyhub Asia) further expressed that "Skyhub Asia Holdings Limited is excited to partner with 5G Wireless Communications, Inc. This strategic partnership will allow Skyhub to immediately expand its current network with an operations center in Singapore. In addition, it will provide a more cost effective and comprehensive range of services, over a single managed network, without compromising on quality."

About 5G Wireless Communication, Inc.

5G Wireless Communication, Inc. (OTCBB: FGWC) is a cutting edge provider of wireless solutions, which utilizes state of the art equipment and proprietary solution elements which delivers a dramatic improvement in performance while at the same time realizing the bottom line benefit of decreased communications costs. 5G's corporate office is located in the United States, with branch offices in Canada, and Singapore. 5G designs, build, deploy and operate broadband network systems for the hospitality industry and are expanding its services across Asia.

Skyhub Asia Holdings Limited - http://www.skyhubasia.com

Skyhub Asia Holdings Limited, is a regional ISP, employing a combination of local leased lines and satellite to provide unlimited broadband Internet access to end-users. Skyhub Asia also performs network design and implementation of internal building infrastructure to enable commercial and residential buildings (both old and new) to accommodate high-speed Internet access. The company is also aggressively developing other complimentary and auxiliary services such as multimedia contents and applications over its broadband network on a regional basis.

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1996. Forward-looking statements concerning plans, objectives, goals, strategies, future events of performance and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including but not limited to, product and services demand and acceptance, changes in technology and in economic, political and regulatory conditions and to all of the risks generally associated with a company at 5G Wireless stage of development. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company are expressly qualified by these cautionary statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.