Air-Q Wi-Fi Restructures 20,000,000 Outstanding Warrants; Investor Group Agrees to Replace 20,000,000 Warrants with 5,000,000 New Warrants.

Business Editors/High-Tech Writers

BATON ROUGE, La.--(BUSINESS WIRE)--April 29, 2004

Air-Q Wi-Fi Corporation (OTCBB:AQWF), a Wi-Fi (wireless fidelity) Internet access provider, announced today that it had reached an agreement with an investor group to restructure 20,000,000 of its outstanding warrants. Under the agreement, warrants to purchase 20,000,000 shares, with an average exercise price of $.35 per share, were cancelled and new warrants to purchase 5,000,000 shares at an exercise price of $1.00 per share were issued.

"This restructuring exemplifies the strong support of our investors and their belief in our future plans," said David Loflin, AIR-Q's President. "We believe this restructuring will be of great, long-term benefit to our shareholders, as we have dramatically reduced the overhang on our market, while preserving the potential for obtaining up to $5,000,000 from the exercise of warrants," added Mr. Loflin.

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. 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.