Air-Q Wi-Fi Signs Definitive Agreement to Acquire Tulsa Wi-Fi Provider.

Business Editors/High-Tech Writers

BATON ROUGE, La.--(BUSINESS WIRE)--May 18, 2004

Air-Q Wi-Fi Corporation (OTCBB:AQWF), a Wi-Fi (wireless fidelity) Internet access provider, announced today that it has signed a definitive agreement to acquire eWassco Corporation, a privately-held, Tulsa, OK-based Wi-Fi hotspot operator. eWassco currently operates a dozen hotspots, with numerous future locations planned. All of eWassco's operating hotspots will be converted to Air-Q's Q-Spotz(TM)-brand Wi-Fi hotspots. This acquisition of eWassco is to be made solely for shares of Air-Q's common stock; Air-Q's management sees no impediment to closing the acquisition.

"This is the first of what we intend to be many acquisitions of small, strategically positioned hotspot operators," said David Loflin, Air-Q's president. "We are expanding our hotspot 'footprint' as quickly as possible, through acquisition, our internal efforts and the efforts of our Wi-Fi development partners, and this acquisition fits well into that plan," 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.