SOURCE: AIT Wireless, Inc.

October 06, 2005 12:54 ET

AIT Wireless, Inc. Acquiring Oil & Gas Fields in Wind River Valley, Wyoming

LAKELAND, FL -- (MARKET WIRE) -- October 6, 2005 -- AIT Wireless, Inc. (OTC: ATWL), announced today that its board approved the strategic move to acquire another major interest in a significant oil and gas field, in Wind River Valley, Wyoming, one of the top three oil and gas regions in the United States. AIT Wireless ("Buyer") has entered into a definitive agreement with Information Architects Corporation, which provides for ATWLs acquisition of a 51.5% interest in an oil and gas lease with James Thronburg. The acquisition has been approved by the board of directors of both IACH and ATWL. The final closing of the transaction is scheduled to occur within the next 45 days.

Ernest Phillips, president of ATWL indicated that this acquisition opportunity is one that permits ATWL to cost effectively acquire another premiere oil and gas property. The Thronburg Oil and Gas field was discovered by one of the pre-eminent oil and gas explorers of this age, Mr. Charles Laser, former president of Landsat. The purchase of Thronburg further allows ATWL to expand its growing oil and gas business while at the same time, enhancing and building shareholder value. Mr. Phillips comments that ATWL is purchasing the Thronburg Oil and Gas Field for a fraction of its ultimate value once the field is in full production. The Thronburg Oil and Gas Field is in Wyoming's Wind River Valley, within miles of the Hamilton Dome and Dallas Fields, geologically contiguous to some of the most productive oil and gas fields in the United States.

"We have been directing our energies toward this kind of major acquisition. The Thronburg property is a considerable Oil and Natural Gas asset. This provides us with another solid US based oil and gas Platform to add to our growing asset foundation," commented Ernest Phillips, President, AIT Wireless, Inc.

"Mr. Laser himself will be directing the drilling operations. We feel the timing is right to bring this Wind River Valley Oil and Gas field into timely production. Our country has a major interest in becoming less dependent on foreign oil suppliers. This is straight-forward, vertical, shallow drilling and the economics and technology of the oil industry will make an expedited recovery process," quoted Ernest Phillips President/CEO of AIT.

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding the Company's plans, intentions and expectations. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Such statements are inherently subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from those expected or implied by the forward-looking statements. These factors include general economic and business conditions nationally, internationally and in the regions and countries in which we operate; demographic changes; technology changes; increased competition; changes in business strategy or development plans; our high leverage and our ability to access capital markets; our ability to attract and retain qualified personnel; existing governmental regulations. Given these factors, investor and analysts should not place undue reliance on forward-looking statements.

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