PITT MEADOWS, B.C.; November 14, 2008 —Tranzeo Wireless Technologies Inc. (TSX:TZT), a leading producer of high-speed wireless broadband and WiMAX communication systems,  reports results for the  third quarter ended September 30, 2008.

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• Revenue was $4.4 million compared with $4.6 million year over year.
• Gross profit was $1.4 million compared with $1.8 million year over year.
• Gross margin was 32% compared with 39% year over year.
• Net Loss was $0.14 million compared with net earnings of $0.2 million year over year.
• EBITDA was $0.28 million compared with $0.52 million year over year.

“In Q3/08 management began a process of right-sizing the company’s operations to restore Tranzeo to be cash flow positive and profitable before fiscal year-end in order to gear up for dynamic expansion through WiMAX in the coming year. Tranzeo has made a significant and bold commitment to expand its proven Wi-Fi product portfolio with the addition of a robust WiMAX product line. This strategy has been based on management’s belief that there is a tremendous business case for WiMAX infrastructure worldwide, particularly for the provider that develops a cost-competitive customer-premise technology that is also compatible with the leading base station technologies. WiMAX deployments are just beginning to reach critical mass around the world and by basing our solution on a chipset with proven capability to be deployed for existing fixed requirements, as well as evolving mobile and next generation standards, Tranzeo is future proofing our investments. ” said Jim Tocher, President and CEO of Tranzeo.

Revenue for the third quarter of 2008 was $4.4 million compared with $4.6 million for the same period in 2007 and $6.0 million in the second quarter of 2008. WiMAX product sales accounted for $1.4 million compared with $0.8 million in the second quarter of 2008.

Gross profit was $1.4 million compared with $1.8 million for the same period in 2007 and $1.9 million in the second quarter of 2008.Gross margins were 32% compared with 39% for the same period in 2007 and 32% in the second quarter of 2008.    

Net loss was $0.14 million from net earnings of $ 0.20 million for the same period in 2007 and net earnings of $0.1 million for the second quarter of 2008.

EBITDA was $0.28 million compared to $0.52 million for the same period in 2007 and $0.62 million for the second quarter of 2008.

This press release contains forward-looking statements that involve risks and uncertainties. We use words such as “anticipate”, “plan”, “expect”, “believe”, “intend” and similar expressions to identify forward-looking statements that relate to our business, management, operating results and financial condition. These statements are not historical facts, but reflect our current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risk Factors” and other sections of our prospectus which may be found on SEDAR at www.sedar.com.

Tranzeo Wireless Technologies Inc. (TSX:TZT) leads the wireless broadband industry as a premier manufacturer of high-performance wireless network equipment that allows communities and businesses to communicate without boundaries. Tranzeo's optimum cost effectiveness, premium quality and responsive support have attracted a growing and devoted worldwide following of more than 2,465 dealers and15 distributors. Tranzeo’s full spectrum of point-to-point and point-to-multipoint radios, WiMAX equipment, and mesh network solutions are designed for wireless internet service providers, governments, campuses, military, carriers, enterprise customers, and systems integrators around the globe. Headquartered in British Columbia, Canada, Tranzeo also has offices in San Diego, California and Shannon, Ireland. Visit www.tranzeo.com or phone 1.866.872.6936 for more information.

Matthew Johansen , Manager Investors Relation

Interim Consolidated Statements of Operations and Deficit