Calypso Wireless Announces New Patent-Pending Switching Technology for Satellite Radio Industry.

MIAMI LAKES, Fla. -- First graph, sixth line should read: ...such as Apple Computer's (NASDAQ:AAPL) iPod... (sted ...such as Apple Computer's (NASDAQ:APPL) iPod...).

The corrected release reads:

CALYPSO WIRELESS ANNOUNCES NEW PATENT-PENDING SWITCHING TECHNOLOGY FOR SATELLITE RADIO INDUSTRY

Calypso Wireless, Inc. (Pink Sheets:CLYW), an emerging leader in advanced wireless telecommunications technology, announced today that the company has developed a new patent-pending technology that will allow users of mobile devices such as cellular phones, PDAs, satellite radios and portable music players, such as Apple Computer's (NASDAQ:AAPL) iPod, to listen to satellite broadcasts on those devices from either Satellite transmitters or wireless LAN access points, such as WiFi.

Calypso 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 XM Satellite Radio (NASDAQ:XMSR) and Sirius Satellite Radio (NASDAQ:SIRI) to be readily received by all types of mobile wireless devices, thus generating a huge 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.

"Our patent is filed and we anticipate receiving confirmation of that patent in the near future. This new satellite radio technology goes hand in hand with our existing ASNAP(TM) technology. By expanding the capabilities of our patented switching technologies, we are taking giant steps toward ensuring that Calypso becomes known as the 'go to' company for service providers and device manufacturers that want to integrate seamless switching capabilities into their offerings and open up huge new revenue streams," says George Schilling, President and Chief Executive Officer of Calypso Wireless, Inc.

Satellite radio usage is expected to skyrocket over the next few years. In the two years since satellite radio service first appeared in the United States, the concept has rapidly gone from being a geek fad to a viable alternative to traditional broadcast radio. Analysts expect the number of satellite radio subscribers to grow sharply during the coming years as more consumers are introduced to the services and people get used to the idea of paying for radio. As a matter of fact, both XM Satellite Radio and Sirius have recently beat growth expectations and by the end of 2004 the two companies were expected to boast over 4 million paid subscribers

"Satellite radio service providers are already working to attract more subscribers by offering new data services like streaming news, stock quotes and sports scores. The next logical step is for them to also try to offer ways for their subscribers to be able to receive their signals in more places, like in their homes or at work and via all types of mobile devices, such as PDAs, iPods and cell phones. That is where Calypso's state-of-the-art switching technology comes in. Subscribers would no longer have to worry about weak or lost satellite radio signals when they go into buildings as long as there is an available broadband network or WiFi access point that their mobile radio or device equipped with Calypso's technology could jump synch with, making a seamless jump from their provider's satellite. This could be a major move for the industry," continues Schilling.

As devices continue to experience convergence of technologies, Calypso believes that all of the converged devices can benefit by incorporating the company's seamless switching patented technologies.

About Calypso Wireless, Inc.

Calypso Wireless has been granted US Patent, titled "Communication system and method." Calypso's patented ASNAP(TM) technology enables the user's device to automatically detect any available wireless local area network and then seamlessly switch between the signals of a standard GSM/GPRS link tower and an available short range broadband network such as cable or DSL with Wi-Fi. The integration of ASNAP(TM) technology will enable greatly enhanced services such as real time video conferencing via phones or any mobile devise powered with the company's technology. The patent has also given Calypso the rights to offer license agreements to major carriers as well as OEM's.

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.