Craig Wireless Completes Acquisition of Secured Advances and Certain Spectrum Rights of Woosh Wireless Limited in New Zealand

RANCHO MIRAGE, CA, Nov. 10, 2011 /CNW/ - As previously announced by Craig Wireless Systems Ltd. ("Craig Wireless" or the "Company") (TSX: CWG) on September 15, 2011, the Company's subsidiary Craig Wireless South Inc. ("CW South") entered into an agreement to purchase certain secured advances owed by Woosh Wireless Limited ("Woosh"). The Company is pleased to announce that the acquisition of the advances and certain of the spectrum rights held by Woosh has now been completed. Closing on the remaining spectrum rights held by Woosh is expected to occur at a later date in accordance with the agreement between the parties.

About Craig Wireless Systems Ltd.
Craig Wireless and its affiliates (collectively, the "CWS Group") offer a broad range of telecommunications services, including, broadband internet access, business connectivity solutions, hosting, security and telecommunications solutions. Through certain members of the CWS Group, Craig Wireless holds or leases licenses for spectrum in the 2.5 GHz, 2.6 GHz or 3.5 GHz bands in Riverside County in Southern California, United States and in Greece. The CWS Group also has spectrum interests in Norway and New Zealand. Spectrum in these ranges is effective for delivery of point-to-multipoint signals, possesses robust bandwidth capability and supports emerging 4G-based services and applications, including portable and mobile applications.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Notice on forward-looking statements
This release includes forward-looking statements regarding Craig Wireless and its business. Such statements are based on management's current expectations. The forward looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Craig Wireless and its business. Not to limit the generality of the foregoing, the forward-looking information set forth in this news release is subject to various risks and other factors including the following: the risk that the acquisition of the remaining spectrum rights from Woosh will not be completed for any reason, the risks of conducting business in a foreign country, currency fluctuations. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Craig Wireless does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

SOURCE Craig Wireless Systems Ltd.

For further information:

Boyd Craig, Chief Executive Officer, Craig Wireless Systems Ltd., email:  craiginfo@craigwireless.com.

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Craig Wireless Systems Ltd.

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