CALGARY, ALBERTA--(Marketwire - April 27, 2012) - Times Three Wireless Inc. (TSX VENTURE:TTW) (the "Company") reports a net loss of $55,000 for the year ended December 31, 2011. Financial highlights for the year include a repayment of notes and debentures payable of $642,000 and a reduction in total liabilities of $725,000. Technology highlights include the completion of the Beacon 7 development and the establishment of a pilot project in Brazil for the Company's telemetry application.

The complete financial statements along with management's discussion and analysis can be found on the Company's website ([ www.timesthree.com ]) and on SEDAR ([ www.sedar.com ]).

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:

Certain statements contained in this news release constitute forward-looking statements By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Times Three's control including the impact of general economic conditions, industry conditions, currency fluctuations, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources, the inability to obtain required consents, permits or approvals, including regulatory approvals, counter-party risks and the risk that actual results will vary from the results forecasted and such variations may be material. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Times Three's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Times Three will derive therefrom.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, Times Three disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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