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Wednesday, 06/02/2004 10:54:57 PM

Wednesday, June 02, 2004 10:54:57 PM

Post# of 60938
I received a reply to my email and as I promised I will share it with you guys. I thought the reply was very interesting. Not only does the email show a lack of respect for me as an individual investor and as someone who is interested in Calypso Wireless and as someone who has formerly invested in the company, but it shows a lack of knowledge on the part of George as to exactly what is in the company filings. Apparently, he is not aware that they state in their filings that they need additional financing to continue. This lack of knowledge I find to be very disturbing to say the least. It really doesn't take that long to read these filings especially when it is produced by your own company. He closes his reply stating that in the future he will not take the time to respond to rumors or answer questions that can easily be obtained on their website or SEC's website. If this information was easily obtainable I would not have been asking for the information. Needless to say, this reply really turns me off to this company. You guys can form your own conclusions and responses. Oh, one last thing, I'm amazed even further that George would respond in such a way when I make it clear that I would be able to post any information that he shared so that "many investors" could see the information. I would consider his response to be negligent on behalf of the company. I question whether he needs to be in the post that he's in with replies such as this. It's quite a way to attract investors...NOT!

I got a round-about answer about the China Telecom contract. He makes it clear that the only guarantee is that they will commence with doing a field trial so it sounds as if the China Telecom deal is NOT guaranteed revenue for Calypso Wireless. I was formerly led to believe otherwise.

I will once again post a copy of the email I sent and then below it I will post George's response:



To George or Whom it may Concern:

Many investors are wanting / needing some information concerning your China Telecom deal that was announced early in 2003. I would like any information you can share about this deal. What are the exact terms of the deal? Is it guaranteed revenue for Calypso Wireless or does the deal hinge on certain terms? When will revenues be generated from the deal?

I would also like some information on the prototypes that were to be ready this month. How is the progress going on those? When do you expect those to be available for field trials?

I would also like some information regarding Calypso's financial situation. You announced in the last filing that you need an additional $5 million in order to proceed. What progress has been made in obtaining the additional financing? Also, if you are not able to obtain the additional financing, does that not enable you to continue with the China Telecom deal?

I would appreciate any information you can supply to these questions. Many of these questions are being asked by many investors. I can post the information you provide so that many investors can see the reply. I believe one reason for the recent decline in your stock price is due to lack of news on these items so it would be to your benefit, I believe to respond to these questions in as much detail as you can provide. Thank you for your time.

Individual Investor



Sugarpea,

Everyone knows the details of the China deal. Check the PR’s and 10K. What kind of updates do you expect? We are contracted to do a field trial when we have the prototypes available. There is no expiration date. There has been NO change. If there was any re-negotiation, it would obviously occur after the field trial. What would the point be to “change” or “update” the deal at this point? Do you really expect a PR every few weeks that says: Hey, China Deal OK!!! You ask, is it guaranteed revenue? It is guaranteed by contract that we will commence with a field trial. Revenue is generated from a successful field trial.



Do you really expect me to divulge the exact terms of the deal to someone who calls themselves Sugarpea and signs their correspondence Individual Investor? Whatever is public information is in the 10K or on the web-site or in PR’s.



The prototypes are still in production. This is why we opened the Ohio R&D facility.



Calypso is currently fully funded. Please send me the page number and paragraph in the 10K that says we need an additional $5MM in order to proceed. It sounds to me like you read the message boards instead of the facts.



Also, please be advised, I will not be responding to questions that can easily be found on our web-site or the SEC’s web-site. Also, I will not respond to rumors spread on the message boards by bashers, etc. This takes away from my valuable time that is better spent being productive on this business.





George J Schilling

Director of Corporate Communications

georgeschilling@calypsowireless.com

www.calypsowireless.com



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