SOURCE: Calypso Wireless

December 23, 2008 06:00 ET

2008 Year End Recap Calypso Wireless, Inc.

HOUSTON, TX--(Marketwire - December 23, 2008) - 2008 has been a transition year for Calypso Wireless (PINKSHEETS: CLYW). We have accomplished many milestones and achievements, like no other year in the history of Calypso.

The executive management and Board of Directors are pleased with the progress to date and look forward to building on this progress in 2009. Since our efforts in 2008 have largely been focused on resolving disputes, expanding our intellectual property reach, and protecting our intellectual property rights, the groundwork for our efforts in 2009 has been laid.

Some of Calypso's milestones reached in 2008 are:

Second Quarter

--  Settlement agreement reached with Drago Daic
--  The ousting of the previous Board of Directors and Management
--  Granting of European Patent in Twenty-Five Countries for our ASNAP™
    Technology
--  Granting of Mexican Patent for our ASNAP™ Technology
    

Third Quarter

--  Retained the law firm of Williams Kherkher to represent us in
    connection with our IP portfolio
    

Fourth Quarter

--  Filed an amendment to our Hybrid Communication System and Method
    patent application (commonly known as our "Satellite Patent") with the
    United States Patent and Trademark Office
--  Amended documents were filed with the Chinese Patent Office
--  Filed patent infringement suit against T-Mobile USA, Inc.
--  Granting of European patent in two additional countries for our
    ASNAP™ technology
    

"Each of these achievements is the groundwork necessary for our future success. It was crucial to spend the time and effort this year to lay the foundation for our prosperity," states Calypso's President Richard Pattin.

Fixed-Mobile Convergence (FMC) was just an idea when Calypso received its Patent 6,680,923. Now both enterprises and carriers are deploying FMC at impressive rates with the common goal of convenient and efficient communications. Calypso holds the FMC solution when seamlessly switching at the enterprise and carrier levels.

The executive management and Board want to thank you for your continued support and wish you a happy and safe holiday season.

About Calypso

Calypso Wireless' patented ASNAP™ technology enables the seamless roaming of voice, video and data between Wide Area Network access points, such as cellular towers and short-range Internet access points (such as Wi-Fi, WiMax, Bluetooth, etc). ASNAP™ also greatly enhances services such as broadband connectivity, real time two way video conferencing, VoIP and network-based gaming applications via Calypso's cellular phones, PDAs or any mobile device powered with ASNAP. For more detailed about Calypso Wireless, please visit: http://www.calypsowireless.com/.

Forward-Looking Statement

Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words 'planned,' 'expects,' 'believes,' 'strategy,' 'opportunity,' 'anticipates,' 'hopes' or other similar words. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

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