Calypso Wireless' Dual Wi-Fi/GSM-GPRS Phone Prototypes Available Now

Business Editors/High-Tech Writers MIAMI LAKES, Fla.--(BUSINESS WIRE)--May 15, 2005--Calypso Wireless, Inc. (Pink Sheets:CLYW), an emerging leader in advanced wireless telecommunications technology announced today that prototypes for its dual mode, Wi-Fi - GSM-GPRS handsets, the C1250i, that run on the Intel (NASDAQ:INTC) PXA chipset solution are available now. Calypso Wireless expects to conduct demonstrations and commence field trials with Mobile Carriers in the US, Europe and Latin America, with whom it has already signed NDA's and Field Trials Agreements.

Calypso piqued the interest of many Mobile Carriers by demonstrating its ASNAP(tm) technology which provides a system that enables Mobile Carriers and Internet Service Providers to identify and authenticate the mobile user. This creates a platform for revenue sharing between the synergistic companies and increased revenues for them by delivering new added services such as two-way, real-time video conferencing on Calypso's cellular phone using Calypso's ASNAP(tm) patented technology (U.S. patent number 6,680,923). 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 revenues.

Calypso's team, led by the President and Chief Executive Officer, George Schilling, is scheduled to conduct demonstrations of the company's C1250i Wi-Fi cellular phone to different Mobile Carriers in US and Europe within the next few weeks. "We believe this is a significant turning point for our company. With our technology, Mobile Carriers will be able to substantially increase their revenues and user base and offer higher bandwidth services without having to purchase an additional licensed radio frequency spectrum," says George Schilling, President & CEO of Calypso Wireless.

Mobile users will be able to make two-way, real-time video conferencing and VoIP calls over the WLAN or switch over to the Mobile network when outside of a "hotspot." Since the C1250i's browser can be used both inside and outside the WLAN, users always have access to the Internet. Instant messaging between C1250i handsets on a wireless LAN is also possible. The handset's battery lasts about 4 hours for VoIP calls. The Calypso C1250i comes with headphones (Mini Stereo Jack), a cradle with USB ActiveSync Cable and AC adapter.

Last September at the Excellence in Mobile Communications Awards Banquet, Frost & Sullivan presented Calypso Wireless, Inc. with the 2004 Excellence in Technology Award for the development of the company's innovative wireless switching technology, ASNAP(TM). "Innovations such as the Internet-ready cell phones and WLAN public and private hot spots are creating an environment that is more conducive to the convergence of cellular and Wi-Fi services for both data and voice, and ASNAP(TM) is Calypso's innovative technology in this space," says Frost & Sullivan industry analyst Rajesh Kannan.

According to research by the high-tech market research firm, In-Stat/MDR, the marriage of Voice over Wireless Area Network (VoWLAN) and cellular technology will be arriving sooner than most would think. By 2006, VoWLAN/cellular handsets will be in many enterprise customer hands, and starting to enter the home market as well. "The VoWLAN/cellular combo handset has all the abilities of a regular cellular handset, plus voice over IP over WLAN. Customers get excellent coverage in the areas where they talk most, such as their homes and at work, and carriers can offer VoIP service cheap, because a minute of VoWLAN airtime costs them only a fraction of what a cellular call costs," says Allen Nogee, a Principal Analyst with In-Stat/MDR.

About Calypso Wireless

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" (http://www.uspto.gov 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 enables the 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. The integration of ASNAP(TM) technology will enable greatly enhanced services such as real time video conferencing via Calypso's 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 phone manufacturers and OEMs. 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 (NASDAQ: XMSR) and Sirius Satellite Radio (NASDAQ: SIRI) to be readily received by all types of mobile wireless devices, thus generating a huge 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 http://www.calypsowireless.com.

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Tony Drake,