Calypso & Sleipner Announce Successful Demonstration of Calypso Wireless Dual Mode WiFi-GSM-GPRS VoIp Cellular Phones

Calypso Wireless, Inc. (Pink Sheets:CLYW), a leader in advanced wireless telecommunications technology, announced today that it has demonstrated its C1250i dual mode WiFi-GSM-GPRS VoIP cellular phone that runs on Intel (NASDAQ:INTC) PXA series application processor and Microsoft WinCE 5.0 (NASDAQ:MSFT) with Sleipner SA, (Sleipner) an Italy based telecommunications company, at the Boston Expo Voice over Net convention.

"The demonstration conducted with Calypso C1250i WiFi-GSM-GPRS VoIP mobile phones incorporating the Sleipner CoMob mobility software and running Microsoft WinCE 5.0 has been outstanding. We plan to offer the Calypso-Sleipner breakthrough technology to the mobile operators throughout Europe. By working together with Calypso ASNAP(tm) patented technology (U.S. Patent #6,680,923) which cover the seamless roaming of voice, video and data between any cellular towers (GSM/GPRS/EDGE, CDMA, WCMDA etc.) and short-range Internet access points (such as Wi-Fi, Bluetooth, etc.) we see a tremendous opportunity to offer this technology to our clients," says Bruno Motta, Vice President of Marketing of Sleipner SA.

"We are proud to see our patented technology and solutions being demonstrated at the Voice over Net Expo in Boston, MA. Offices, homes and enterprises will be able to save money when making VoIP calls over any Wireless LAN or switch over to the Mobile network when outside of Wireless LAN area," says Alfredo Sarrazin, Vice President of Sales of Calypso Wireless, Inc.

About Fall VON, September 19-22 Boston Convention and Exhibition Center.

Pulvermedia has been producing VON, The VoIP Industry Tradeshow, since 1997. For more information about the VON Tradeshow, please visit the company's Web site at http://www.von.com/index.html

About Sleipner

Sleipner builds advanced IP-based communication systems and software platforms enabling comprehensive network-telephony solutions and innovative data converged services for enterprise and consumer customers. Sleipner' VoIP and IP solutions and applications are designed on coMEDIA, the first complete family of SIP-based solutions offered to the market. Service providers and enterprises can build their own SIP applications to fit their unique voice needs. Compared to circuit-based deployments, VoIP implementations are completed faster and with fewer setbacks. For more information about Sleipner S.A. and its products and services, please visit the company's Web site at http://www.sleipner-sa.com

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" (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 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 http://www.calypsowireless.com.

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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