J. Drew Craig increases ownership interest in Craig Wireless Systems Ltd.



    TORONTO, Aug. 27 /CNW/ - J. D. Craig Holdings Inc. ("JDC"), a company
controlled by J. Drew Craig, the Co-Executive Chairman of Craig Wireless
Systems Ltd. ("CWS"), announces that it has acquired 1,000,000 subordinate
voting shares of CWS (the "Shares") pursuant a private agreement, at a price
of $0.39 per share (the "Transaction"). The Shares represent approximately
2.26% of the issued and outstanding subordinate voting shares of CWS. In
addition, since April 23, 2008, Mr. Craig announces that he has directly
acquired an additional 69,900 subordinate voting shares (the "Exchange
Shares") of CWS in the public market, representing, in the aggregate together
with the Shares, ownership or control, directly or through JDC, of
approximately 2.42% of the outstanding subordinate shares of CWS.
    JDC acquired the Shares pursuant to the private agreement exemption from
the take-over bid procedure prescribed by securities legislation, set out in
section 4.2 of Multilateral Instrument 62 -104 Take-Over Bids and Issuer Bids
("MI 62-104") and/or section 100.1 of the Securities Act (Ontario) (the
"Act"). The exemption was available to JDC as the purchase was made from not
more than five persons in the aggregate and the value of consideration paid
for the Shares, including brokerage fees and commissions, was not greater than
115% of the market price of the Shares as determined in accordance with
section 4.2 of MI 62-104 and/or section 100.1 of the Act.
    The Exchange Shares were acquired by Mr. Craig pursuant to the normal
course purchase exemption set out in section 4.1 of MI 62-104 and/or section
100 of the Act. The exemption was available as the Exchange Shares (together
with any other acquisitions), in the aggregate, did not exceed five percent of
the outstanding subordinate voting shares of CWS in the preceding 12 month
period in which they were acquired, there is a published market for
subordinate voting shares, and the value of the consideration paid was not in
excess of the market price of the acquired subordinate voting shares.
    Following the acquisition of the Exchange Shares, Mr. Craig's direct
holdings in CWS consist of the Exchange Shares, 350,000 subordinate voting
share options, and 1,000,000 multiple voting share options, and following the
Transaction, JDC's holdings consist of the Shares and 28,167 multiple voting
shares.
    Mr. Craig, following the Transaction and the acquisition of the Exchange
Shares, together with T. Boyd Craig and S. Miles Craig (collectively, the
"Craig Family") directly, through JDC and through Manalta Investment Company
Ltd. (a corporation owned by the Craig Family) hold, in the aggregate, 71.14%
of the issued and outstanding subordinate voting shares of CWS and 100% of the
issued and outstanding multiple voting shares of CWS. In the aggregate, the
holdings of the Craig Family represent 73.34% of all of the issued and
outstanding equity of CWS.
    Mr. Craig and JDC acquired the Shares and the Exchange Shares for
investment purposes and may, in the future, take such actions in respect of
their respective holdings as they may deem appropriate in light of the
circumstances then existing, including the purchase of subordinate voting
shares or other securities of the CWS through open market purchases or
privately negotiated transactions, or the sale of all or a portion of their
holdings in the open market or in privately negotiated transactions to one or
more purchasers.
    A copy of the related early warning report in connection with the matters
described herein filed with the applicable securities commissions and further
information may be obtained by contacting CWS, attention: Wesley Thiessen,
Vice President of Finance and Interim Chief Financial Officer, at telephone:
(204) 925-9125.





For further information:

For further information: Further information may be obtained by
contacting CWS, attention: Wesley Thiessen, Vice President of Finance and
Interim Chief Financial Officer, at telephone: (204) 925-9125

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Craig Wireless Systems Ltd.

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