Air-Q Wi-Fi Closes Acquisition of Maryland-based AirRover Networks, Inc.; Acquired Wi-Fi Provider to Become Air-Q's Base of Operations for Eastern U.S.

Business Editors/High-Tech Writers

BATON ROUGE, La.--(BUSINESS WIRE)--May 24, 2004

Air-Q Wi-Fi Corporation (OTCBB:AQWF), a Wi-Fi (wireless fidelity) Internet access provider, announced today that it has completed the acquisition of AirRover Networks, Inc., a privately-held, Gaithersburg, MD-based Wi-Fi hotspot operator. AirRover operates hotspots in New Jersey, Maryland, Pennsylvania and Washington, D.C. The acquisition was made solely for shares of Air-Q's common stock.

In addition, the former principals of AirRover will serve as consultants to Air-Q, focusing on the location and installation of additional hotspots throughout the Northeastern U.S.

"The AirRover transaction represents the second acquisition of a strategically positioned hotspot operator," said David Loflin, Air-Q's president. "Our acquisition of AirRover, as well as our continuing relationship with its former principals, enhances our efforts in expanding our hotspot 'footprint' as quickly as possible," added Mr. Loflin.

When asked for comment, Michael Recker, AirRover's former president and current Air-Q consultant, stated, "We are very excited to be an ongoing part of Air-Q's expansion efforts. Air-Q is executing its strategy towards becoming a key part of the global roaming solution that our customers have been telling us they want. We share Air-Q's vision of how providers will be successful in the Wi-Fi market and are pleased that we were identified as a strategic acquisition."

About Air-Q Wi-Fi Corporation

Air-Q Wi-Fi Corporation is a development-stage company that develops and operates wireless Internet access systems. Its first Wi-Fi Internet access system is located in Baton Rouge, LA, and its second Wi-Fi system is located in Phoenix, AZ. Air-Q has begun to implement its Wi-Fi Internet access system in Boulder, CO, and, through AirRover Networks, Inc., provides Wi-Fi services in Maryland, Pennsylvania and Washington, D.C. Air-Q's "Wi-Fi" (hotspot) Internet access system operates 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.

Forward-Looking Statements 

Certain statements in these interviews and news releases may constitute "forward looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward looking statements involve risk, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. Certain statements contained in the interviews are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of Air-Q's products and services and markets for such products and services, the timing and level of customer orders, competitive products and service, changes in economic conditions and other risks and uncertainties. Although Air-Q believes the statements are reasonable, it can give no assurance that such expectations will prove correct. Air-Q cautions that any forward-looking statements contained herein are not a guarantee of future performance and that actual results may differ materially.