Wireless Age Communications, Inc. (fka WLSA)

[EDWARD STEVENSON]

The float is estimated at approx. 20,000,000. After the share reduction takes place, the issued and outstanding will amount to 27,600,000.

Wireless Age in Discussions on Loan Repayment.

TORONTO, ONTARIO--(Marketwire - July 13, 2009) - Wireless Age Communications, Inc. ("Wireless Age")(PINK SHEETS:WLSA) and its controlling shareholder Newlook Industries Corp. ("Newlook")(TSX VENTURE:NLI) announced today they are in discussions with respect to the terms and conditions of debt repayment between the two parties.

Pursuant to the discussions, Newlook, subject to regulatory approval, will transfer approximately 30 million common shares of Wireless Age and 2 million common shares of Newlook to Wireless Age in exchange for debt reduction. Such shares of Wireless Age will be returned to treasury.

In a related transaction, Newlook has agreed to transfer all of the issued and outstanding common shares of its wholly-owned subsidiary Grandvue Inc. ("Grandvue") and its interest in an 18% secured convertible promissory note issued by Function Mobile Inc. to Gamecorp Ltd. ("Gamecorp")(CNSX:GGG), a related party, in exchange for 2 million Newlook common shares held by Gamecorp. Gamecorp is a related party due to its ownership of approximately 18% of Newlook and certain common officers and directors. Grandvue has provided equipment lease financing to IAG Peru S.A.C., a related party to Newlook, Gamecorp and Wireless Age, by virtue of common officers and directors with its parent InterAmerican Gaming, Inc. (OTCBB:IAGM).

The terms and conditions of the debt reduction have not been finalized at this time; however the final terms and conditions will have to be approved by disinterested directors of Newlook and Wireless Age. The transaction is also subject to regulatory approval and the approval of the full Newlook and Wireless Age boards of directors.

John G. Simmonds, CEO of Wireless Age stated; "We believe it is in the best interests of all concerned to sever the ownership of Wireless Age by Newlook. Newlook will return to the Company all remaining shares in Wireless Age and Wireless Age will cancel the returned shares thereby reducing the issued and outstanding from approximately 57.6 million to approximately 27.6 million. With the two million Newlook shares obtained in this transaction, Wireless Age will own approximately 16% of Newlook. Following this proposed transaction there will likely remain a residual debt balance that we hope to resolve on a mutually satisfactory basis shortly."

http://www.marketwire.com/press-release/Wireless-Age-Communications-Inc-PINK-SHEETS-WLSA-1016119.html