Calypso Wireless Update

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) December 13, 2011 -- ITEM 5.02 - Departure of Directors or Certain Officers, Election of Directors, Appointment of Certain Officers, Compensatory Arrangements of Certain Officers

The Audit Committee of the Company's Board of Directors has found that the Officers have caused a false and misleading proxy solicitation to be circulated to the shareholders. Among other things, the solicitation states the action is based on the recommendation of the Board of Directors. The Board of Directors specifically has not made such a recommendation and does not make such recommendation. Additionally, the Officers conducted a shareholders forum after refusal of the Board of Directors to allow such a forum and after advice of its attorneys to not conduct such a meeting (the Officers failed to advise the Board of Directors or the shareholders of this advice). The value of the stock dropped approximately 50% the following trading day and has continued to drop since.

The Audit Committee resolved that Cristian Turrini and Kyle Pierce were terminated from any and all Officer positions of the Company on December 12, 2011 and notified the (former) officers of the Action.

Dave Williams,
Audit Committee Member and

Ed Walsh
Chairman of the Audit Committee
Calypso Wireless, Inc
(713) 936-3560

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