EXHIBIT 99.1

                    CELL POWER TECHNOLOGIES OBTAINS FINANCING

              INITIAL CLOSING HELD; ADDITIONAL CLOSINGS ANTICIPATED

           Brooklyn, New York June 14, 2004. Cell Power Technologies, Inc. (OTC:
CLPW) today announced that it raised gross proceeds of $648,000 from the sale of
its securities.  The funds were raised  following an initial closing held by the
Company of a private placement of units of its securities to certain private and
institutional  investors of up to $3 million. The Units consist of 32,000 shares
of Common Stock and five year warrants to purchase up to an  additional  32, 000
shares of common stock at a per share exercise price of $1.25, provided that the
exercise period may be reduced under certain  conditions.  The per Unit price is
$24,000.  In the Offering,  subscription  amounts are  deposited  into an escrow
account pending closing.

           The Company is  authorized  to conduct  subsequent  closings from the
subscription  amounts  deposited  into  escrow.  However,  no  assurance  can be
provided  that the  Company  will be able to hold  additional  closings or raise
additional funds from these subscription amounts.

           The Company received  $583,200 in net proceeds  following the initial
closing following payment of offering related expenses.

           "We  believe   that  the  funds  raised  are  a  first  step  in  the
implementation  of our  plan.  While  we  have a way to go  and  need  to  raise
additional  funding,  we are delighted by investor  response",  stated Mr. Jacob
Herskovits, the Company Chief Executive Officer.

           The securities sold in the Private Placement have not been registered
under the Securities Act of 1933, as amended (the "Securities Act"), and may not
be offered or sold in the United States unless  registered  under the Securities
Act or an  applicable  exemption  from  registration  is  available.  This press
release does not constitute an offer to sell or the  solicitation of an offer to
buy, nor shall there be any sale of these  securities in any state in which such
offer,  solicitation  or sale would be  unlawful  prior to the  registration  or
qualification under the securities laws of any such state.

About Cell Power Technologies, Inc.

Cell Power is the exclusive sub-distributor for Cellboost(TM) in Latin and South
America.  Cell Power is also entitled to royalty  payments from the distribution
of units of Cellboost(TM) in the United States, Mexico, Canada, Puerto Rico, the
US Virgin Islands,  the Caribbean and Israel.  Cellboost(TM) is a small portable
cell-phone  battery that comes in phone specific models to fit most commercially
available  cell  phones.  It  offers  up  to  one-hour   additional  talk  time.
Cellboost(TM) is currently available in North America in flagship retailers like
Office Max,  Office Depot and Staples.  More  information  on the product can be
found at HTTP://WWW.CELLBOOST.COM.

FORWARD-LOOKING STATEMENTS

ALL STATEMENTS  CONTAINED HEREIN, AS WELL AS ORAL STATEMENTS THAT MAY BE MADE BY
THE COMPANY OR BY OFFICERS,  DIRECTORS OR EMPLOYEES OF THE COMPANY ACTING ON THE
COMPANY'S  BEHALF,  THAT  ARE NOT  STATEMENTS  OF  HISTORICAL  FACT,  CONSTITUTE
"FORWARD-LOOKING  STATEMENTS". SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND
UNKNOWN  RISKS,  UNCERTAINTIES  AND OTHER  FACTORS  THAT COULD  CAUSE THE ACTUAL
RESULTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE HISTORICAL RESULTS OR
FROM ANY FUTURE RESULTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS.
SUCH RISKS AND UNCERTAINTIES ARE OUTLINED IN THE COMPANY'S ANNUAL REPORT ON FORM
10-KSB FOR 2003, ITS QUARTERLY REPORTS ON FORM-10-QSB,  AND SUCH OTHER DOCUMENTS
AS ARE FILED WITH THE SECURITIES AND EXCHANGE  COMMISSION FROM TIME TO TIME. THE
COMPANY IS NOT OBLIGATED TO REVISE OR UPDATE ANY  FORWARD-LOOKING  STATEMENTS IN
ORDER TO REFLECT EVENTS OR  CIRCUMSTANCES  THAT MAY ARISE AFTER THE DATE OF THIS
RELEASE.