Calypso Files for OTCBB

MIAMI LAKES, Fla. -- Calypso Wireless, Inc. (Other OTC:CLYW), announced today it has filed an application to become listed on the OTC Bulletin Board. The company also announced it started generating sales revenues in the third quarter of 2003.

The OTC Bulletin Board(r) (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information on over-the-counter (OTC) equity securities. OTCBB securities include national, regional, and foreign equity issues, warrants, units, American Depositary Receipts (ADRs), and Direct Participation Programs (DPPs). Securities quoted on the OTCBB are required to report their current financial information to the SEC to meet eligibility requirements. Calypso Wireless became fully reporting by filing its Form 10K with the SEC on July 2nd, 2003.

"Our ultimate goal is to become listed on Nasdaq. Our most recent quarterly report indicates that our total assets now exceed $11.4 million. We have also recently reached a major milestone in our operations -- revenues. At this point, we have every reason to believe that 2004 will represent a major breakthrough for Calypso Wireless. We are in negotiations with major network carriers and have signed several agreements to conduct additional field trials, which should result in procurement orders," says David Davila, president and chief executive officer of Calypso Wireless, Inc.

Furthermore, Calypso Wireless intends to announce its expanded and revised business model in January. The new model should substantially decrease the company's needs for capital while simultaneously boosting its revenues and profitability.

Last month, Calypso Wireless announced that it is in negotiations with one of the largest cable companies in the U.S. to license and purchase Calypso's ASNAP(tm) technology and related products to the cable company. Calypso Wireless has proprietary technology that seamlessly switches back and forth between cellular (GSM/GPRS or CDMA) networks and Wi-Fi wireless local area networks (WLAN) utilizing the 802.11 standard without losing connectivity. This makes Calypso's technology a natural fit for cable companies such as Time-Warner (NYSE:TWX), Comcast (Nasdaq:CMCSA) and Charter Communications (Nasdaq:CHTR).

Calypso Wireless Inc.