Calypso Wireless, Inc. Announces Management Consolidation and Two New Members of the Board

    HOUSTON, TX, August 04, 2009 /24-7PressRelease/ -- Calypso Wireless, Inc. (OTC - CLYW.PK) Calypso filed an 8-K July 28, 2009 outlining a consolidation of management and the appointment of two new members to the Board of Directors. These changes are designed to move the Company to a higher level of corporate governance and regulatory compliance in all areas of operation.

The Board reconsolidated the company's position(s) of President and CEO in accordance with the existing bylaws of the Company. Thus, Mr. Cristian Turrini is renamed the CEO and President of the Company.

The two new Independent Directors appointed to the Board of the Company are Mr. Edward Walsh and Ms. Kyle Pierce and each will serve until the next election of Directors. The additions allowed the Board to staff its Audit and Compensation Committee (ACC) and its Governance and Nominating Committee (GNC) with three Independent Directors, naming Ed Walsh, a CPA and former auditor as the Chair of the ACC and Mr. David Williams, an engineer with corporate management experience, the Chair of the GNC. Ms. Pierce, a manager of bank treasury operations, will sit on both Committees and will become the new Secretary of the Company on an interim basis at no special compensation to ensure her "Independence" as a Director.
"We are very pleased Kyle and Ed are joining the Calypso team, and believe their insights and experience will help broaden the areas of expertise and scope of our board." said Cristian Turrini, CEO and President of Calypso Wireless, Inc.

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, Bluetooth, etc), ASNAP also greatly enhances broadband connectivity, real time two way video conferencing, VoIP and network-based gaming applications via Calypso's cellular phone, PDAs or any mobile device powered with ASNAP. For more details about Calypso Wireless, please visit: www.calypsowireless.us

Forward-Looking Statement
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause the actual results to differ materially from those in such forward looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," "hopes," or other similar words. There can be no assurance that forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on the information presently available to the management of the Company and the Company does not undertake to update and forward-looking statement that may be made from time to time by or on behalf of the Company.

Contact:
Calypso Wireless, Inc.
CristianTurrini
[email protected]
or visit our website at:
http://www.calypsowireless.us

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