Press Release

5G Wireless Solutions Announces Equipment Deal with Paymaster Nigeria -- 5G Base Stations Will Create CityWide Infrastructure for Wireless Financial Transactions

MARINA DEL REY, Calif. – Oct. 5, 2005 – 5G Wireless Solutions, Inc., an emerging leader in the wireless broadband industry and a wholly-owned portfolio company of 5G Wireless Communications, Inc. (OTCBB:FGWC - News), a business development company, announced today that it will be providing a CW-WAN(TM) (CityWide Wide Area Network) equipment package to create an infrastructure for credit card payment processing in Nigeria.

The purchase was arranged through Polestar, one of 5G's channel marketing partners, on behalf of Paymaster, a payment processing organization currently offering its services to financial and retail customers throughout W. Africa. The 5G wireless network will provide high-speed connectivity for point-of-sale credit card authentication and verification terminals already in use by a wide variety of shops, restaurants, banks and other consumer outlets.

"We are pleased to have this as our second deployment in what should be an ongoing series of installations throughout this rapidly growing nation," stated Jerry Dix, 5G Wireless Communications' CEO. "Our equipment was selected on the basis of a successfully demonstrated proof of concept, cost efficiency, high security standard and ease of installation and deployment."

"This deployment is the result of a prolonged appraisal process, where 5G excelled over other manufacturers at every stage in the evaluation," added Obasi Uba Obasi, Jr., CEO of Polestar, based in Port Harcourt, Nigeria. "The fact that so little hardware is required to provide such blanket coverage over large geographical areas, coupled with stringent security measures, was absolutely key."

About 5G Wireless Solutions, Inc.

5G Wireless Solutions, Inc., located in Marina del Rey, Calif., is a portfolio company of 5G Wireless Communications, Inc. (OTCBB:FGWC - News), a Business Development Company. The company creates and markets wireless broadband solutions for university and municipal campuses, and provides wireless networking equipment to a select group of VARs and WISPs through its Authorized Channel Partners program. Customers enjoy high performance internet access at lower acquisition, implementation and maintenance costs than most major competitors because of uniquely enhanced Wi-Fi base stations. 5G Wireless Solutions products are distinguished by their exceptional service area range, throughput speeds, number of concurrent users, non-line-of-sight (NLOS) capabilities and unique security protocol. These enhancements are compatible with standard IEEE 802.11b Wi-Fi equipment for "last mile" roaming and point-to-multipoint networks. 5G's value proposition -- significantly increased performance at the lowest possible total cost of ownership (TCO) -- is quickly becoming a key consideration in the strategic deployment of the wireless experience.

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

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.


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