Franklin Wireless Announces Revocation of the Right to Rescind the Exchange of Diffon Corporation Common Stock

SAN DIEGO, March 22 /PRNewswire-FirstCall/ -- Franklin Wireless Corp. (OTC Bulletin Board: FKWL) (www.franklinwireless.com), the market leader in dual-mode WiMAX/CDMA modems for 3G and 4G wireless broadband data communications, today announced the revocation of the right to rescind the exchange of Diffon Corporation common stock for Franklin Wireless common stock by two major shareholders of Diffon.

"Franklin Wireless is pleased to announce the revocation of the right to rescind the exchange of common stock with two major shareholders of Diffon," stated OC Kim, co-founder and president of Franklin Wireless.  "This allows us to maintain our majority ownership position of Diffon Corporation. Our strategic investment in Diffon provides Franklin with greatly expanded R&D and product design capabilities."

About Franklin Wireless

Franklin Wireless Corp. (OTC: FKWL.OB) designs and sells broadband high speed wireless data communication products such as third generation ("3G") and fourth generation ("4G") wireless modems and modules.  The Company focuses primarily on wireless broadband Universal Serial Bus ("USB") modems, which provide a convenient way for wireless subscribers to connect to broadband networks with any laptop or desktop PC. The company's products are positioned at the convergence of wireless communications, mobile computing and the Internet. Recently, Franklin Wireless opened its first regional office in Asia and also expanded its R&D and product design capabilities through a strategic investment in South Korea based Diffon Corporation.

Founded in 1982 and headquartered in San Diego, CA, the company is committed to serving the global wireless community by catering to the dynamic needs of its customers.  For additional information, please visit www.franklinwireless.com.

Safe Harbor Statement:

Certain statements in this press release constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements, expressed or implied by such forward-looking statements.

SOURCE Franklin Wireless Corp.