CallWave CEO to Participate in Industry-Leading VoIP Panel at 2006 International CES

CallWave's innovative VoIP-based service enables communicationsconvergence across existing personal telecommunications networks --landline, mobile, and IP -- by adding software-based call-handlingfeatures, and allowing callers to connect across these differentcalling communities using the network of their choice. During the CESpanel discussion, Hofstatter will address the next telecom wave, whichhe believes will be led by a carrier grade, desktop software-basedapproach to driving consumer convergence of fixed, mobile and IPdevices.

What: CEO David Hofstatter, CallWave, Inc., will participate in
the CES panel discussion "To VoIP or Not to VoIP." During
the panel session, Hofstatter will focus on the
importance of a software-based approach to fixed-mobile
convergence (FMC). He will emphasize innovation around
the needs of the consumer as well as the distribution
strategies in the telco and portal communities required
to drive broad adoption.

Who: Scheduled panelists include: David Hofstatter, CEO,
CallWave; Jeff Citron, Chairman and CEO, Vonage; Brad
Garlinghouse, VP Communications Product, Yahoo! Inc.;
Bryan Martin, President and CEO, 8x8, Inc.; John Muleta,
Partner, Venable LLP; Kevin Keefe, Vice President of
Voice and Data Solutions, Motorola Connected Home
Solutions; Robert Simkavitz, President and CEO,
FreelineUSA, Inc. Moderated by Jim Penhune, Director,
Broadband Media & Communications Research, Strategy
Analytics.

When: Thursday, January 5, at 12:00 p.m. PT, at the Sands
Expo and Convention Center in Las Vegas, room Venetian
2203.

About CallWave

CallWave (NASDAQ:CALL) is a leader in VoIP enhanced services. Thecompany provides VoIP application services on a subscription basisthat add features and functionality to both landline and wirelesstelecommunications services. CallWave's proprietary VoIP softwareallows subscribers to get more out of their existing personalcommunications networks -- landline, mobile, and IP -- by addingsoftware-based call-handling features, and by bridging all threenetworks to help subscribers get their important calls. Founded in1998, CallWave is headquartered in Santa Barbara, Calif. For furtherinformation, please visit www.callwave.com.

"Safe Harbor" Statement under the Private Securities LitigationReform Act of 1995: Statements in this press release regardingCallWave Inc.'s business, which are not historical facts, are"forward-looking statements" that involve risks and uncertainties. Fora discussion of such risks and uncertainties, which could cause actualresults to differ from those contained in the forward-lookingstatements, see "Risk Factors" in the Company's Quarterly Report orForm 10-Q for the most recently ended fiscal quarter.