SPEEDCOM Announces Name and Symbol Change.

IRVINE, Calif. -- SPEEDCOM Wireless Corporation (OTCBB:SPWC) today announced that NASDAQ has received the necessary documentation to process its name change from SPEEDCOM Wireless Corporation to SP Holding Corporation. This corporate action will take effect at the open of business on July 5, 2005. The new symbol on this date will be SPHD (OTCBB:SPHD).

About SPEEDCOM

SPEEDCOM Wireless Corporation, now known as SP Holding Corporation, is a non-operating public shell company. On January 1, 2004, the company entered into a Development Stage Enterprise, due to the sale of its operating assets on December 10, 2003. The company plans to operate as a Development Stage Enterprise while it explores business opportunities to maximize its shareholders' value through a merger, acquisition or similar business combination.

This press release contains forward-looking statements that involve risks and uncertainties. Actual events may differ from forward-looking statements for a number of reasons as well as other factors discussed from time to time in our SEC filings (available on EDGAR or for free at www.sec.gov). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimate or projected. All forward-looking statements included in this document are made as of the date hereof, based on information available to SP Holding Corporation on the date thereof.