Calypso Announces Acquisition of U.S. Patents that Convert Voice to Text and Text to Voice for Cellular Phones, PDA and Mobile Devices.

MIAMI -- Calypso Wireless, Inc. (Pink Sheets:CLYW) announced today that it has signed an agreement to acquire four United States Patents. The newly acquired patented technologies enable cellular phones and wireless PDA/Pocket PC to convert any incoming text messages to voice messages and any incoming voice messages into text messages. Calypso plans to license these four newly acquired patented technologies (US Patent Numbers: 6839412, 6765996, 6385306, 7031439) to mobile operators, Original Equipment Manufactures (cellular phones and wireless PDA/Pocket PC manufacturers) and Internet Service Providers.

"Seamless messaging is no longer a dream: it is increasingly a real need for users. By integrating these newly acquired patented technologies with Calypso ASNAP[TM] patented technology, any cellular or dual mode WiFi cellular phone will be able to convert any incoming text message into a voice message and, similarly, any incoming voice message into a text message," says Mr. Alessandro Valenti, Calypso VP of Research and Development.

"Subscribers that do not have a Smartphone or PDA phone can also use the speech to text technology. This could be an ideal solution for the emerging market," continues Valenti.

"We believe this is a major milestone for our company. We have been focusing on perfecting our own technology as well as developing new ones. The newly acquired technologies along with the existing patented technologies will allow us to expand our licensing model and start to aggressively pursue licensing agreements with established industry leaders and thereby create additional revenues," says Cristian Turrini, Calypso's President & Chief Executive Officer.

About Calypso Wireless, Inc.

Calypso Wireless is the company behind the ASNAP[TM] technology for which it was granted U.S. Patent #6,680,923 titled "Communication system and method" (http://www.uspto.gov search U.S. patent number 6,680,923), which covers the seamless roaming of voice, video and data between Wide Area Network access points, such as cellular towers (GSM/GPRS/EDGE, CDMA, WCMDA etc.) and short-range Internet access points (such as Wi-Fi, Bluetooth, etc.).

Calypso's patented ASNAP[TM] technology will enable cellular phones to automatically detect any available Wireless Local Area Network (WLAN) and then seamlessly switch between the signals of a standard cellular link tower and an available short-range broadband network such as cable or DSL with Wi-Fi, accelerating wireless broadband deployment, thereby creating a platform for revenue sharing between the synergistic companies and increased revenues for them by delivering new added services. It could also provide significant savings to Mobile Carriers in additional frequency spectrum and infrastructure equipment by offloading capacity to the Wireless Local Area Networks (WLAN) and IP networks while providing additional sources of revenue. The integration of ASNAP[TM] technology will enable greatly enhanced services such as broadband connectivity, real time two way video conferencing, VoIP and network-based gaming applications via Calypso's cellular phones, PDA's (Personal Digital Assistance) or any mobile devise powered with the company's ASNAP[TM] technology. The patent has also given Calypso the rights to offer license agreements to major mobile and ISP carriers as well as to cellular phone manufacturers and OEM's. Calypso has also built upon its patented ASNAP[TM] technology to create a new technology that could provide 'the' solution that allows satellite radio signals from carriers such as Satellite Radio and Sirius Satellite Radio to be readily received by all types of mobile wireless devices, thus generating a new potential revenue stream for both the satellite radio companies and the companies supplying service to mobile phones and devices and the manufacturers and retailers of those devices, as well for the licensing of this technology by Calypso.

Calypso Wireless is a publicly traded company headquartered in Miami, FL. Its common stock trades under the ticker symbol CLYW. For more information about Calypso Wireless and its products and services, please visit the company's Web site at http://www.calypsowireless.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

All statements included or incorporated by reference in this release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.

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.