Press Release

5G Wireless Communications Names Lawrence Early as CFO – Industry Veteran Offers Both Technology and SEC Expertise

Marina del Rey, CA – August 25, 2005 – 5G Wireless Communications, Inc. (OTCBB: FGWC), a BDC (Business Development Company) making strategic investments in companies with innovative applications in the information and communications technology sectors, announced today that Lawrence C. Early has joined the company as Chief Financial Officer and Principal Accounting Officer.

Mr. Early most recently served as CFO of uWink, Inc. (OTCBB:UWNK), an entertainment software developer, and as CFO and Controller of Accesspoint Corporation (OTCBB: ASAP), an ecommerce software developer. Prior to this, he was Regional Controller for Southwest Operations of Westsun America, Inc., and CFO and Principal Accounting Officer, of eSat, Inc., a software developer specializing in providing Internet connectivity via satellite for large, distributed system environments.

Mr. Early holds an M.B.A. in International Finance from the American Graduate School of International Management, and earned his B.A. in Finance from California State University, Fresno. He is a member of the Institute of Managerial Accountants and the American Institute of Certified Public Accountants.

 “Having spent much of my career working with technology organizations, I’m delighted to be joining 5G at this exciting time in the growth of the company,” stated Mr. Early. “I will be working with the team to strengthen the financial policies and procedures to ensure 5G Wireless Communications’ place as a major player in the broadband wireless space.”

“Lawrence’s experience with public companies and expertise in executing SEC and GAAP reporting requirements will enable us to maintain more efficient reporting practices as well as get a better hold on our day-to-day operations.  We are fortunate to have a gentleman of Lawrence’s caliber  join us at this critical time in our growth and are pleased to welcome him to our family ” added Jerry Dix, CEO of 5G Wireless Communications, Inc.

Don Boudewyn, one of the co-founders of the company and acting CFO, will relinquish this position in order to devote all his time to developing new business and new markets for the company.

About 5G Wireless Solutions, Inc.
5G Wireless Communications, Inc. (OTCBB: FGWC), located in Marina del Rey, CA, is a BDC (Business Development Corporation) developing a diverse portfolio of companies with innovative applications in the information and communications technology sectors. Holdings currently include 5G Wireless Solutions, Inc., a portfolio company, which develops and markets broadband wireless networks for university and municipal campuses, and provides Wi-Fi networking equipment for a select group of VARs and WISPs.

For additional information, please visit Or call 800 916-1611.



Frank Simonelli
5G Wireless Communications, Inc.
(310) 448-8044

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Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise which could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited, to those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

All product or service names mentioned herein are the trademarks of their respective owners.


For more information about 5G Wireless please contact us at (800) 916-1611

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