Chadmoore Wireless Group Cancels 5,500,000 Options.

LAS VEGAS--(BUSINESS WIRE)--November 5, 1997--Chadmoore Wireless Group, Inc. (OTC/BB:MOOR), a provider of Specialized Mobile Radio (SMR) telecommunications services, in a show of corporate strength, has consummated an agreement which terminates options to acquire 5,500,000 shares of its common stock at an exercise price of $0.50 per share. These options remained outstanding from an original grant covering 8,323,857 shares issued to Libero Limited as the primary compensation for Chadmoore's June 1996 acquisition of more than 5,500 SMR channels. The balance of such options had previously been exercised. In an unrelated transaction, Chadmoore has restructured its Management and Option to acquire agreements covering the 5,500 channels.

The transactions cancel the stock purchase, stock option and securities subscription, each dated June 14, 1996, as well as a restructuring of the Management and Option agreements to permit the exercise and transfer of individual licenses at Chadmoore's discretion (once certain regulatory requirements are met), in exchange for mutual releases of rights to approximately 300 SMR channels.

Robert W. Moore, President and CEO of Chadmoore, stated, "Utilizing options in the original transaction structure with Libero was both necessary and effective at the time, and enabled us to leapfrog most other SMR providers by acquiring rights to over 5,000 channels in a single transaction. In connection with that acquisition, our auditors, KPMG Peat Marwick, required us to obtain an independent appraisal of those channels, which was provided and valued the 5,500 plus channels at $75 million to $90 million. The elimination of an overhang that represented 25 percent of our currently issued stock, plus greater flexibility to put these licenses in our name quickly, is a very positive development for Chadmoore."

Chadmoore Wireless Group, Inc. is engaged in the business of wireless communications utilizing 800 MHZ SMR frequencies throughout the Midwest and Southeastern United States. -0- Statements contained in this press release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Although Chadmoore Wireless Group, Inc. believes that the expectations reflected in such forward-looking statements are reasonable, the forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projections.

Such risks and uncertainties include, without limitation, fluctuations in demand, loss of subscribers, the quality and price of similar or comparable wireless communications services, regulatory delays or denials, ability to complete intended construction, termination of proposed transactions, access to sources of capital, and general economics.

This release is available on the KCSA Worldwide website at www.kcsa.com.

CONTACT: Chadmoore Wireless Group Inc., Las Vegas

Investor Relations, 702/891-5255

or

KCSA Worldwide Public & Investor Relations, New York 

Joseph A. Mansi/Paul Holm

212/682-6300 ext. 205/201