SOURCE: CALYPSO WIRELESS, INC.

October 15, 2008 13:19 ET

Calypso Wireless Announces Shareholders Meeting

HOUSTON, TX--(Marketwire - October 15, 2008) - Calypso Wireless, Inc. (CLYW) (PINKSHEETS: CLYW) is pleased to announce they will be having their first ever Shareholders Meeting. The Shareholders Meeting will be Tuesday, December 02, 2008 with an official ownership record date as Monday, October 20, 2008.

Calypso Wireless will hold this meeting at Marriott Woodlands Waterway Hotel & Convention Center, 1601 Lake Robbins Drive, The Woodlands, Texas 77380 ph#(281)367-9797. The Shareholder meeting will commence at 2:00pm and end at 4:30pm. The Board of Directors and Executive Management of Calypso Wireless, Inc. looks forward to this meeting with its shareholders.

During this shareholder meeting, Alessandro Valenti, V.P. of Research & Development, will demonstrate the "Calypso VoIP Kit" and discuss its relevance to future business development.

Any shareholder that has any questions concerning our shareholder meeting, please direct your questions to Richard Pattin at (richardpattin@calypsowireless.com).

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 cellular phones, PDAs or any mobile device powered with ASNAP™. Another of Calypso's technologies enables cellular phones and PDAs to convert any incoming text messages to voice messages and vice versa. Calypso plans to begin licensing its technologies to mobile operators, OEMs and ISPs.

Forward-Looking Statement

The news release contains forward-looking statements concerning the Company's business operations, and financial performance and condition. When used in the news release the words "believe," "anticipate," "intend," "estimate," "expect," "project," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. These forward-looking statements are based on current expectations and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that may cause such differences include but are not limited to technological change, regulatory change, the general health of the economy and competitive factors. Many of these factors are beyond the Company's control; therefore, future events may vary substantially from what the Company currently foresees. You should not place undue reliance on such forward-looking statements.

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