Calypso Wireless update

FOR IMMEDIATE RELEASE
Los Angeles, California, United States of America (Free-Press-Release.com) November 28, 2011 -- Dear Calypso Wireless, Inc. (OTC: CLYW / CLYW.PK) Shareholders,

By now you have either heard about it or have received proxy materials for a Special Shareholders Meeting to be conducted on December 15th, 2011 in Houston, Texas. You may receive your proxy materials by mail or by internet depending on whether you are a shareholder of record or a beneficial owner and whether you have individually elected to receive proxy materials from your broker via internet.

Voting instructions are contained in the proxy materials. Whether or not you plan to attend the meeting, we strongly encourage you to vote by proxy via the Internet prior to the meeting. Votes submitted electronically over the Internet must be received by 7:00 p.m., Eastern Time on December 14, 2011.

Such a special meeting is permitted by Calypso's By-laws, Articles of Incorporation and Delaware Corporate Law. The only matter on the agenda is the removal of David H. Williams as a Director of the Board of Directors of Calypso Wireless, Inc. The Company attempted to solve the deadlock in the Board of Directors through the appointment of a "Provisional Director," but so far such an action was opposed by Mr. Williams and the constant demands made by Mr. Williams’ attorneys have increased the Company's legal liabilities significantly. The reasons the Company is requesting the removal of Mr. Williams are detailed in the proxy materials sent. It is the belief of the Company’s management that the removal of Mr. Williams will strengthen the company as a whole by permitting it to go forward and conduct business in a more cooperative and collaborative environment. The Company appreciates your support and is looking forward to its Shareholders determining the result of such an important decision. Upon the successful conclusion of the initiative, the Company will immediately move forward to strengthen the composition of the Board of Directors and Management as resources permit.

We are also happy to report that final settlement documentation with Mr. Drago Daic is in the process of being executed. The case against Mr. Daic will be completely dismissed as well as all previous agreements. Mr. Daic will also vacate the judgment he holds against Calypso Wireless, Inc. and any countersuits will be dismissed. A mutually agreed upon press release will serve as notification to the shareholders that this process has been completed.

Since Calypso Wireless Inc. went public in 2002 tax returns have never been filed for the Company with the IRS.

Tax Returns for Calypso Wireless Inc. have recently been filed with the IRS for the years of 2003, 2004, 2005 and 2006. Additionally, abatement for penalties and interest owed on payroll taxes has been requested from the IRS. We are working on completing the internal financial statements for 2007 and 2008. We expect this process to be completed within six weeks. The Company believes it will then be in a position to complete the next four years of IRS tax filings. Thereafter, the Company will begin preparing for an audit. The Company will need to have funding to engage auditors. Additionally, we will need to determine with the SEC what exact filings will be required from the SEC for Calypso to be considered in good standing.

The Company engaged the law firm of BuchalterNemer specifically to assist with this process. Recent threats by Director Dave Williams to sue the law firm have caused the firm to seek to withdraw from representing Calypso Wireless Inc. Calypso will need to seek alternative assistance in the process of becoming compliant with the SEC.

Best regards,

Cristian Turrini & Kyle Pierce

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.).

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.

Contact:
Calypso Wireless Inc.
Cristian Turrini, ccturrini@gmail.com

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