AIRESURF NETWORKS HOLDINGS INC.
121 Richmond Street West, Suite 501
Toronto, Ontario M5H 2K1
Tel: (416) 368-9411
Fax: (416) 861-0749

PRESS RELEASE FOR IMMEDIATE RELEASE

Canadian Trading and Quotation System Inc.
June 23, 2005, Toronto, Ontario
Symbol: AIRE
Shares Outstanding: 24,461,328

AIRESURF PROPOSES PRIVATE PLACEMENT AND DEBT SETTLEMENT

AireSurf Networks Holdings Inc. (CNQ - AIRE) announces a proposed private placement of up to 2,500,000 units of the Company at a price of $0.10 per unit for gross proceeds of up to $250,000. Each unit is to be comprised of one Class A Voting Share and one Class A Voting Share purchase warrant. Each warrant entitles the holder thereof to acquire an additional Class A Voting Share at a price of $0.15 until March 1, 2007. The proceeds of the private placement will be used for general working capital
purposes.

The Company further announces that it is in negotiation with certain arms’ length trade creditors and management to settle indebtedness of the Company with the issuance of up to 10,000,000 Class A Voting Shares.

Completion of the private placement and debt settlement are subject to regulatory approval, including satisfaction of the requirements of the CNQ.

For further information, contact: Mr. Paul Brent, President at (416) 368-9411.