SOURCE: WiFi Wireless, Inc.

June 12, 2006 09:00 ET

WiFi Wireless, Inc. Announces Reverse Stock Split

ALISO VIEJO, CA -- (MARKET WIRE) -- June 12, 2006 -- WiFi Wireless, Inc. (PINKSHEETS: WFIW) (OTCBB: WFIW)

WiFi Wireless, Inc. today announced that the Board of Directors has approved a reverse stock split and established a ratio of 1 for 10. WiFi Wireless, Inc. will begin trading on a reverse-split as of June 12, 2006 under the new ticker symbol

As a result of the reverse stock split, every 10 shares of WiFi Wireless, Inc. common stock will be combined into one share of WiFi Wireless Inc. common stock. The reverse stock split affects all shares of common stock. The number of shares of WiFi Wireless, Inc. common stock currently outstanding is approximately 23,792,051.

The decision was based upon enhancing shareholder value and demonstrates our confidence in the long term growth prospects of WiFi Wireless, Inc.


(Section 21E of the Securities and Exchange Act of 1934 is subject to the safe harbor created by these sections. Certain information included herein may contain statements that are forward-looking, such as statement relating to plans for future expansion and other business development activities. Such forward looking information is subject to change and variations which are not reasonably predictable and which significantly affect future results.)

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