5G Wireless Communications, Inc. Signs Broadband 
Wireless Licensing Agreement With Radiant Holdings, Inc.

    MARINA DEL REY, Calif., Aug. 7, 2002 - 5G Wireless Communications, Inc. ("5G" or "The Company") (OTCBB:FGWC) announced today that it has entered into a long term agreement with Radiant Holdings, Inc.("Radiant"), a Miami, Florida based telecommunications company to license 5G's proprietary Wi-Fi 802.11b technology in Florida.

    The agreement, which goes into effect immediately, provides for up to $750,000.00 in monthly licensing fees to 5G based on a sliding scale of total subscribers.

    The first access point antenna has been installed at the headquarters location of Radiant in Miami, Florida and a second access point is now installed in Fort Lauderdale, Florida. "Our plans call for us to roll out 30 access points in the south Florida market between now and the end of the year," commented Jerry Dix, President and CEO of 5G Wireless, "with plans to begin rolling out additional sites in the State in first and second quarters of 2003. We are looking for revenues from this agreement to begin mid-fourth quarter 2002," stated Dix.

    "5G Wireless is extremely fortunate to have such a successful partner as Radiant Holdings," commented Jerry Dix. "Radiant has been in the telecommunications business for several years and is one of the leaders in the pre-paid calling card sectors and a pioneer in the point-of-sale activation and payment systems."

    As part of the agreement, Radiant will provide the tower sites and equipment necessary to build out the network. "Once the network is in place, our plans are to leverage 5G's technologies and introduce Voice over the Internet Protocol to our markets," said Gokhan Matthew Inan, Radiant's Director of Business Development. "We witnessed the technology and are excited to get this project moving forward. We will start selling our targeted markets in mid-September and will begin pre-selling other areas as well."

    About 5G Wireless Communications, Inc.
    5G Wireless Communications, Inc. (OTCBB:FGWC) is located in Marina del Rey, California and manufactures, designs, builds, deploys and operates wireless broadband network systems with the primary focus on "economical" solutions for "Wireless, Last Mile" through point-to-point and point-to-multi-point technology.

    About Radiant Holdings, Inc.
    Radiant Holdings, Inc. is located in Miami, Florida and is a full-fledged telecommunications solutions company. Radiant's increasing range of facilities and services is largely market-driven -- meeting the needs of its telecom customers in innovative and highly cost-efficient ways. Services provided by Radiant Holding's subsidiaries encompass virtually the entire value chain of profitable long distance telecommunications.

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            CONTACT: 
              5G Wireless Communications, Inc.
            Don Boudewyn, 310/754-3784
            irdept@5gwireless.com