5G Wireless Names CFO

MARINA DEL REY, Calif. -- 5G Wireless Communications, Inc. (OTCBB:FGWC), a BDC (Business Development Company) making strategic investments in companies with innovative applications in the information and communications technology sectors, announced today that Lawrence C. Early has joined the company as Chief Financial Officer and Principal Accounting Officer.

Mr. Early most recently served as CFO of uWink, Inc. (OTCBB:UWNK), an entertainment software developer, and as CFO and Controller of Accesspoint Corporation (OTCBB:ASAP), an ecommerce software developer. Prior to this, he was Regional Controller for Southwest Operations of Westsun America, Inc., and CFO and Principal Accounting Officer, of eSat, Inc., a software developer specializing in providing Internet connectivity via satellite for large, distributed system environments.

Mr. Early holds an M.B.A. in International Finance from the American Graduate School of International Management, and earned his B.A. in Finance from California State University, Fresno. He is a member of the Institute of Managerial Accountants and the American Institute of Certified Public Accountants.

"Having spent much of my career working with technology organizations, I'm delighted to be joining 5G at this exciting time in the growth of the company," stated Mr. Early. "I will be working with the team to strengthen the financial policies and procedures to ensure 5G Wireless Communications' place as a major player in the broadband wireless space."

"Lawrence's experience with public companies and expertise in executing SEC and GAAP reporting requirements will enable us to maintain more efficient reporting practices as well as get a better hold on our day-to-day operations. We are fortunate to have a gentleman of Lawrence's caliber join us at this critical time in our growth and are pleased to welcome him to our family " added Jerry Dix, CEO of 5G Wireless Communications, Inc.

Don Boudewyn, one of the co-founders of the company and acting CFO, will relinquish this position in order to devote all his time to developing new business and new markets for the company.

5G Wireless Communications Inc.