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Microcapmedia.com REPORTS 238% Gains within 8 days from SIX(6) Featured Company Stocks Including PHBR, MCCY WWAT and Gives Details of 1.2 Billion Dollar Active Signed Confirmed Agreement with PhoneBrasil and CityNet Wireless.

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M2 PRESSWIRE-29 August 2007-www.microcapmedia.com: Microcapmedia.com REPORTS 238% Gains within 8 days from SIX(6) Featured Company Stocks Including PHBR, MCCY WWAT and Gives Details of 1.2 Billion Dollar Active Signed Confirmed Agreement with PhoneBrasil and CityNet Wireless(C)1994-2007 M2 COMMUNICATIONS LTD

RDATE:29082007

PhoneBrasil International Inc. (PINKSHEETS *PHBR) SIGNS $1,200,000,000/ 1.2 BILLION DOLLAR AGREEMENT WITH CITYNET WIRELESS.

PhoneBrasil International Inc. (PHBR.PK) As featured on http://www.Investors.com the Investors Business Daily Corporate News Section. Read the Article>>>> http://www.investors.com/corporatenews/nw19.asp August 28th 2007 PhoneBrasil Announces $1.2 Billion Agreement with CityNet Wireless for First Large Scale Brazil WIFI Platform MIAMI -- PhoneBrasil International, Inc. (Pink Sheets: PHBR) announces agreement with Atlanta-based CityNet Wireless to build the first large scale WIFI Platform for all Brazil. This two year project is estimated by both CityNet and PhoneBrasil to be $1.2 Billion.

Anderson Dias stated, "One of our Shareholders, our European Director of Market Development, "Richard Alain Granier", has facilitated this entire agreement between PhoneBrasil and CityNet as well. Having already received the approval from both parties legal counsel, final Agreement will be signed and in place next month. This WIFI network will literally cover most major metropolitan cities, areas, states, and territories of Brazil. PHBR who has already initiated governmental approvals will be in charge of all the administrative work, i.e.: traffic of minutes and licensing in Brazil. CityNet will be responsible for the platform/system, and towers." Furthermore this new untapped technology will give now to new subscribers, and already existing PhoneBrasil customers, the ability to connect their computers, laptops, VOIP networking devices, and Hybrid cellular dual mode communication interfaces anywhere when this large scale WIFI platform will be available.

About CityNet Wireless: Atlanta, Georgia-based CityNet Wireless is the leading provider...

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