Sanswire Technologies Announces Name Change and Status of Sale to GlobeTel

One of the assets purchased by GlobeTel was the trademarked name "Sanswire." Therefore, the corporation can no longer operate under the name Sanswire Technologies, Inc. The trading symbol SNWR will also soon change.

The GlobeTel transaction closed in November and as a result, 26 million shares of GlobeTel common stock has been issued and is being held by GlobeTel pending the registration of the shares. Terms of the Agreement requires GlobeTel to file a registration statement with the Securities and Exchange Commission prior to January 10, 2005. When the registration statement is declared effective by the SEC, the shares will be distributed as dividends to Sanswire Technologies, Inc. shareholders of record as of May 31, 2004.

"We are pleased that the GlobeTel transaction has closed. We are also very appreciative of the patience of our shareholders, they've been very supportive throughout this process," said Michael K. Molen, Founder and Chairman of Sanswire Technologies. "We've heard from many of our shareholders concerning the transaction and we look forward to distributing the shares. We also want to make it very clear that the Stratellite project is owned and operated by Sanswire Networks, LLC, a wholly owned subsidiary of GlobeTel, not the former Sanswire Technologies, Inc. currently trading under the symbol SNWR."

Molen added, "GlobeTel has put tremendous resources behind the Stratellite project and we look forward to the successful launch of the prototype in the first quarter of 2005."

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