Mobilepro Acquired by New Investor and the Company Plans Acquisitions in the 3G Wireless Communications Industry

date: February 28, 2002

Mobilepro Corp., a developer of mobile information solutions for business-to-business communications, announced today that a new investor has acquired control of the Company and plans to re-direct the focus of the Company to solutions supporting 3G wireless communications. The Company currently plans to accomplish this through an aggressive acquisition program targeting technology firms with products that enable 3G services. The 3G technology features such new capabilities as integrated voice and data, access to high-speed Internet and intranet applications, interactive e-mail, data exchange, global roaming and full motion video transmission-all delivered to a mobile device such as a cellular phone or PDA.

A new senior management team is now in place and plans to arrange for the investment of additional capital to support the new strategy. Company officials have disclosed that they have already begun negotiations with an initial prospective acquisition target and expect to make further announcements soon.

Mobilepro had previously been planning to launch a mobile wireless data delivery service to the corporate market bundled with a personal digital assistant. This plan is now on hold as the new focal point of the business will be in the commercial launch and delivery of leading edge technology solutions that will be sold in the expanding 3G wireless marketplace worldwide.

In February 2002, the Universal Mobile Telecommunications System (UMTS) Forum released worldwide revenue projections for all 3G services to grow from zero in 2001 to approximately $67.7 billion by 2005. UBS Warburg, in the December 2001 Wireless Services Model Book, predicts the revenues from all wireless voice and data services in the U.S. alone to grow to $119 billion by 2005.

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