European Market ``Ripe'' for Calypso's ASNAP Technology.

Business Editors/High-Tech Writers

MIAMI LAKES, Fla.--(BUSINESS WIRE)--May 27, 2004

Calypso Wireless Inc. (OTC:CLYW) announces today that it has signed a field trial installation agreement under "non disclosure" with a large Mobile Carriers in Europe for their real time video conferencing cellular phone using Calypso's ASNAP(tm) patented technology.

Many Carriers in Europe are in the process of deploying Wi-Fi "hot spots" and offering their users added features that include VoIP, and high speed internet access with their mobile devices. Calypso's ASNAP(tm) technology provides the mobile users with seamless switch between cellular such as (GSM/GPRS/EDGE, CDMA, WCMDA etc.) and wireless IP networks via the WLAN (Wireless Local Area Network), accelerating wireless broadband deployment to cell phones and PDAs.

"The installation will run concurrently with the recently announced field trial agreement with Connex, the registered trademark of MobiFon S.A., Connex launched the first GSM network in Romania with a reported customer base of over 3,457,000 and has over 2,000 employees. Connex also offers roaming in 107 countries/areas through 246 operators. Telesystem International Wireless (Nasdaq:TIWI), Canada and Vodafone (NYSE:VOD) UK are the two main shareholders of Connex and are considered world leaders in mobile communication services. We are very excited since Connex and Vodafone have roaming agreement with Cingular Wireless -- BellSouth (NYSE:BLS), AT&T (NYSE:T) and therefore our cellular phone will also work on the Cingular and AT&T network. The Calypso technology could also provide significant savings to mobile carriers in additional frequency spectrum and infrastructure equipment by offloading capacity to the WLAN and IP networks while increasing their revenues by introducing new services. In other words, global connectivity of voice, video and data will be done through the most efficient connection point, at a lower cost to both the mobile carrier and the consumer," says Alfredo Sarrazin, Vice President of Sales of Calypso Wireless, Inc.

Calypso Wireless' patented ASNAP(tm) technology enables mobile users to seamlessly switch back and forth between GSM/GPRS networks and Wi-Fi wireless local area networks (WLAN) utilizing the 802.11 standard. Mobifon customers using Calypso's ASNAP(tm) cellular phones on Vodafone's or any other ISPs' Wi-Fi zones installed throughout Europe or USA might soon be able to access the internet at broadband speeds of up to 11,000 Kbps per second (11Mbps) enabling movie-quality real-time video conferencing on their cellular phones.

About Calypso Wireless

Calypso Wireless is the company behind the revolutionary ASNAP(TM) technology for which Calypso recently was granted US Patent # 6,680,923 tiled "Communication system method" (http://www.uspto.gov search U.S. patent number 6,680,923), Calypso's technology enables cell phones and other mobile devices to automatically detect an available wireless local area network and then seamlessly switch between the signals from a GSM/GPRS or CDMA cellular tower to a short range broadband network such as cable with Wi-Fi. The wireless customer remains connected to the GSM/GPRS or CDMA network until his cell phone automatically detects and switches to a Wi-Fi network. At that point, the cell phone seamlessly switches to that network and is now able to connect at a speed of up to 11,000 Kbps (11Mbps) enabling movie-quality, real-time video conferencing via Calypso's cellular phones, or any cell phones powered with Calypso's technology.

Calypso Wireless is a publicly traded company headquartered in Miami Lakes, 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.

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.