AmbiCom Holdings, Inc. Signs Letter of Intent With Large Home Care Device Manufacturer

SAN JOSE, CA--(Marketwire - October 14, 2010) - AmbiCom Holdings, Inc. (OTCBB: ABHI) today announced that it has signed a Letter of Intent with one of the world’s largest home care device manufacturers to develop the WiFi solution for their product lines that include blood pressure monitors and healthcare products for home and professional use. Ambicom expects to start generating revenue from this association by the first quarter of 2011 and also believes that this letter of intent can potentially bring significant revenue opportunities for the Company. Further information and details will be forthcoming later this year.

About AmbiCom

AmbiCom is headquartered in San Jose, California, and is a leading designer and developer of wireless products focusing on the wireless medical industry. The Company’s wireless modules and devices are based on the Company’s innovative application software for both Wi-Fi and Bluetooth technologies. AmbiCom is committed to wireless design and development of software and hardware and is bringing new and innovative products to the wireless medical markets and other sectors. The Company plans to grow organically, and to augment that growth by selectively acquiring complementary products and technologies via acquisition opportunities deemed to be of strategic value.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but not limited to, our ability to maintain our website and associated computer systems, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including those risks set forth in the Company’s Current Report on Form 8-K filed on January 15, 2010, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.