Direct Wireless Communications and Impetras Ltd. Announce Signing of a Letter of Intent for a $10,000,000 Investment.

Business Editors

WACO, Texas--(BUSINESS WIRE)--June 18, 2002

Direct Wireless Communications (OTCBB: DWCM) is pleased to announce the signing of a letter of intent between the company and Impetras Ltd., an investment company focused on infrastructure development in the third world.

The agreement calls for Impetras to acquire 11.5 million shares of DWCM, for the sum of 10 million USD. The funds would be used to build both alpha and beta test prototypes of Direct Wireless' TFSD wireless communications system with the understanding that full-scale system orders will follow.

CEO Bill Williams, upbeat regarding the news and expecting the financing to close by the end of August, said: "With the technology companies that we have been presenting our system specifications to showing a great deal of interest in working with us, along with the implications of the capital infusion this proposal brings to the table, it is only a matter of time before our company begins to make a significant impact on the way people all over the world communicate. Once we have built both prototypes, we can take the models to wireless carriers, both domestic and international as well as market to governments and private organizations. We are confident that our product provides the most economical means of expanding the reach and quality of wireless communications and it would seem as if others are showing the same amount of confidence."

Direct Wireless Communications Incorporated (OTCBB: DWCM), was founded in 2001 and has the exclusive right, in the United States, to sub-license and market a unique low-cost high capacity, mobile, multi-mode/variable bandwidth digital wireless communications technology called the Direct Wireless Communications System (DWCS). This technology was designed to provide a cost effective solution that increases quality and depth of services to wireless customers. The company is an independent technology licensee of Direct Wireless Corporation, founded in 1996. DWC has three patents issued, one patent pending, and is in the process of applying for several additional patents, domestically and internationally for the exclusive intellectual property rights to proprietary technology called Time Shared Full Duplex (TFSD). It is the vision of the founders of DWC to deliver new revolutionary technology that is superior to existing technology in order to provide best-of-breed personal wireless communications to markets and regions of the globe currently experiencing limited availability of wireless services or encountering a complete absence of this form of communications.

The company trades on the Bulletin Board under the symbol DWCM.