Central Wireless Announces Completion of $600,000 Funding Package; Additional $5,000,000 Could be Available for the Company Within the Next Two Weeks.

Business Editors/High-Tech Writers

SARASOTA, Fla.--(BUSINESS WIRE)--March 31, 2003

Central Wireless, Inc. (OTCBB:CWIR) announced today they have completed a funding package with an investment banking firm worth $600,000. The Company has already received the initial letter of agreement for the equity line pursuant to regulation D.

Additionally, the Company is in negotiations with an investment banking firm to secure an equity line of credit of $5,000,000. These negotiations should be completed within the next two weeks.

This funding package will enable Central Wireless to meet its current and forecast construction schedule obligations.

"In conclusion the equity line funding will allow us to continue all current and projected projects through July of this year," commented Ken Brand, CEO of Central Wireless. "The equity line of credit will enable us to execute fully on our business plan for the next 2 to 3 years and really build value in our Company for our shareholders."

About Central Wireless, Inc.

Central Wireless, Inc., is a publicly traded Utah Corporation specializing in providing site development and construction services to the wireless telecommunications industry. Central Wireless understands the needs and complexities found in today's telecommunication marketplace and we are committed to offering our customers both innovative and cost savings solutions. For more information on Central Wireless, Inc. see www.centralwirelessinc.com.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. Central Wireless confirms nor provides guidance with respect to the financial projections supplied by other companies. Central Wireless takes no obligation to update or correct forward-looking statements.