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Calypso Wireless Acquires Equity Interest in RV Tec to Ignite Faster Time to Market of Its Dual Mode WiFi-GSM-GPRS VoIP Smart Cellular Phone.

MIAMI LAKES, Fla. -- Calypso Wireless, Inc. (Pink Sheets:CLYW), a leader in advanced wireless telecommunications technology announced today that it has acquired an equity interest in RV Technology Limited, Hong Kong ("RV Tec") with an option to buy the company. RV Tec is at the forefront of development and design of wireless handheld devices ranging from smart phones and wireless PDA/Pocket PCs for the consumer market to special purpose wireless data terminals designed for the enterprise and vertical markets. The investment in RV Tec was done by Calypso to expedite the production and delivery to market of the Calypso' ASNAP(TM) patented technology on the C1250i WiFi-GSM-GPRS VoIP smart cellular phone. The Calypso's C1250i that runs on Intel (NASDAQ: INTC) PXA series application processor and Microsoft WinCE 5.0 (NASDAQ: MSFT) operating system is now available for demonstration.

"We believe with Calypso's newly affiliated company RV Tech, Calypso will deliver faster time-to-market to the mobile carriers (Mobile Operators) new design and features on the Calypso cellular phone incorporating the Calypso' ASNAP(TM) patented technology (U.S. Patent # 6,680,923 B1)," says Michael Pizzi, Executive Vice President and General Counsel of Calypso Wireless Inc.

"We see the affiliation with Calypso Wireless as a positive development that will help take our technologies to a broader customer base in a faster manner. RV Tec is committed to provide Calypso with the necessary resources and technical expertise to take Calypso's C1250i mobile phone to a successful commercial launch," says Monsess Leung, Chief Architect Officer of RV Tec.

"With the Calypso ASNAP(TM) patented technology, mobile carriers could save money in additional frequency spectrum and infrastructure equipment by offloading capacity to the Wireless Local Area Networks and IP networks while increasing their revenues by offering new services and features on the Calypso WiFi-GSM-GPRS VoIP cellular phone," says Alfredo Sarrazin, Vice President of Sales of Calypso Wireless Inc.

"Calypso's patented Automatic Switching of Network Access Points ASNAP(TM) technology represents the convergence of cellular and Wi-Fi, thereby enabling any mobile device such as the Calypso C1250i WiFi-GSM to switch seamlessly between the cellular network and wireless IP networks through Wireless Local Area Network (WLAN) with Wi-Fi," further adds Sarrazin.

About RV Technology Limited

RV Technology Limited is a wireless specialist focusing on the design and development of wireless handheld devices ranging from smart phones to wireless PDA/Pocket PCs. The Company offers designs services as well as total ODM solutions to OEM customers who will typically market the RV Tec's designed products under their respective brand names. RV Tec is a leader particularly in the development of WiFi enables smart handsets that run on Microsoft(C) Operating Systems, offering fixed and mobile end users the convenience of having full broadband access through WiFi networks. For more information about RV Tec and its products and services, please visit the company's Web site:

About Calypso Wireless, Inc

Calypso Wireless is the company behind the ASNAP(TM) technology for which it was granted U.S. Patent #6,680,923 titled "Communication system and method" ( search U.S. patent number 6,680,923), which covers the seamless roaming of voice, video and data between Wide Area Network access points, such as cellular towers (GSM/GPRS/EDGE, CDMA, WCMDA etc.) and short-range Internet access points (such as Wi-Fi, Bluetooth, etc.).

Calypso's patented ASNAP(TM) technology will enable cellular phones to automatically detect any available Wireless Local Area Network (WLAN) and then seamlessly switch between the signals of a standard cellular link towers and an available short-range broadband network such as cable or DSL with Wi-Fi, accelerating wireless broadband deployment, thereby creating a platform for revenue sharing between the synergistic companies and increased revenues for them by delivering new added services. It could also provide significant savings to Mobile Carriers in additional frequency spectrum and infrastructure equipment by offloading capacity to the Wireless Local Area Networks (WLAN) and IP networks while providing additional sources of revenue. The integration of ASNAP(TM) technology will enable greatly enhanced services such as broadband connectivity, real time two way video conferencing, VoIP and network-based gaming applications via Calypso' cellular phones, PDA's (Personal Digital Assistance) or any mobile devise powered with the company's ASNAP(TM) technology. The patent has also given Calypso the rights to offer license agreements to major mobile and ISP carriers as well as to cellular phones manufacturer and OEM's. Calypso has also built upon its patented ASNAP(TM) technology to create a new technology that could provide 'the' solution that allows satellite radio signals from carriers such as XM Satellite Radio and Sirius Satellite Radio to be readily received by all types of mobile wireless devices, thus generating a new potential revenue stream for both the satellite radio companies and the companies supplying service to mobile phones and devices and the manufacturers and retailers of those devices, as well for the licensing of this technology by Calypso.

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

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

All statements included or incorporated by reference in this release, other than statements or characterizations of historical fact, are forward- looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.

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.
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Publication:Business Wire
Geographic Code:1USA
Date:Aug 15, 2005
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