Phantom Fiber Corporation Adds M-Commerce Support to Phantom Framework With Navaho Networks Payment Technologies

TORONTO, ONTARIO--(CCNMatthews - Jan. 6, 2005) -

Strategic deal speeds simplified access to credit-card free virtual wallets from wireless applications

Phantom Fiber Corporation (OTCBB:PHMF), the leading provider of secure wireless technology and mobile solutions, today announced a strategic partnership with Navaho Networks Inc., a leading provider of credit-card free payment processing technologies. Under terms of the partnership, Phantom Fiber will integrate Navaho Networks' proprietary technology to the Phantom Framework and thereby speed time to market for M-commerce enabled wireless solutions across several verticals while Navaho Networks will introduce Phantom Fiber's leading mobile solutions to its portfolio of clients and partners.

Navaho Networks' payment technologies such as Phone Billing, eWalletXpress(TM) and Navaho Netcard(TM) provide a safe and convenient, credit-card free method for accepting payments without fear of credit card fraud. By integrating these solutions to the Phantom Framework, enterprise clients can immediately offer m-commerce functionality through their wireless applications and eliminate the need for customers to have multiple m-commerce transaction accounts across several providers. With instantaneous m-commerce functionality and no account sign-up requirement, customers can quickly fund their accounts without ever having to worry about lengthy sign-ups, authorizations or account funding cycles.

Mark Itwaru, CEO for Navaho Networks said, "Wireless is a natural and necessary extension to our successful internet offering. After careful consideration of the options available in the wireless industry, it was easy for us to conclude that Phantom Fiber is the dominant mobile solutions provider in several verticals thereby paving the way towards a successful wireless offering.".

Jeff Halloran, President and CEO for Phantom Fiber commented, "We finally have the ultimate solution which enables our clients to offer M-commerce functionality to customers who want to access funds quickly and easily. By eliminating the need for multiple online payment accounts or the integration of multiple payment processes into the Phantom Framework, customers now have immediate access to their virtual wallet in a credit-card free environment The customer can now use their wireless software and never have to worry about facing the insufficient funds scenario with slower processing solutions. Navaho's payment technologies also eliminate our development cycles overnight and speed time to market for m-commerce enabled wireless applications so that the virtual wallet is now immediately within the reach of any customer.".

As the leading provider of secure wireless technology and mobile solutions, Phantom Fiber has launched an innovative wireless software framework that empowers enterprises to efficiently deploy commercial and productivity applications with high performance functionality onto java-enabled phones, smartphones and PDA phones across many communication platforms. Phantom Fiber delivers robust and secure, client / server applications, which are able to generate real revenue models and measurable returns. With solutions built for e-commerce, finance, field service, health and gaming entertainment, the technology extends at anytime from anywhere to the hands of a mobile user. For more details on the company, technology and products, please visit www.phantomfiber.com.

This release includes projections of future results and "forward-looking statements" as that term is defined in Sections 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the expectations are disclosed in this release, including, without limitation, in conjunction with those forward-looking statements contained in this release.

About Navaho Networks Inc.

Navaho Networks Inc. is a market leader in internet based payment solutions. Navaho's services are designed to provide both merchants and consumers with excellent user experience. Navaho's proprietary technology enables internet based merchants to increase their client acquisition rates which result in greater sales. Navaho's solutions also provide internet shoppers with a variety of safe, easy to use, payment methods. For more information about Navaho Networks please visit www.navahonetworks.com.

About Phantom Fiber Corporation

Phantom Fiber Corporation is the market leader in wireless technology and mobile solutions that empowers any application requiring high performance functionality on today's mobile devices and wireless data communication networks. Phantom Fiber's success is due to its unique ability to deliver a rich client experience without compromising on performance or security. Phantom Fiber extends the enterprise reach anytime, anywhere, on any device. For more information, please visit www.phantomfiber.com.

-30-