EXHIBIT 10.48





As of March
27, 2002





TO:    Purchasers of Units (each a Lender and collectively the Lenders) consisting of $4,260,000
principal amount of 15% Senior Secured Notes of World Wireless Communications, Inc. (the Company).





Re:    Amendment of Agreements





Gentlemen:





Reference is made to the Loan Agreement between the Lenders and the Company dated as of May 17, 2001, as amended on August 7, 2001, effective as of May 17, 2001 (the
Agreement), including each note issued pursuant thereto (individually the Note and collectively the Notes).





For good and valuable consideration, the adequacy and sufficiency of which is hereby acknowledged by the Lenders, and as an additional inducement for the Company to continue its offering of units of its preferred
stock and warrants pursuant to the Confidential Private Placement Memorandum dated January 8, 2002, the Company and each Lender agree as follows:





1.    Each Note shall be amended to change the amount now appearing in Section 3(ii) thereof to $4,260,000 with the same force and
effect as if originally set forth therein, effective as of March 27, 2002.





2.    Section
1.1(a) of the Loan Agreement shall be amended to read as follows, effective as of March 27, 2002:





(a)
Simultaneously with the execution and the delivery of this Agreement, Lancer Offshore, Inc. agrees to lend to Borrower the aggregate sum of $2,250,000, of which (i) the sum of $1,125,000 shall be paid to Borrower upon the execution and the delivery
of this Agreement and (ii) the sum of $1,125,000 shall be paid to Borrower on July 15, 2001, provided that Borrower has raised the sum of $2,000,000 in equity from persons other than Michael Lauer and his affiliates, including, without limitation,
Lancer Offshore Inc., Lancer Partners, L.P., and The Orbiter Fund Ltd.(such loan, together with any other amounts loaned pursuant to this Agreement by any Lender from time to time, including that specified in Section 1.1 (b) hereof, with the consent
of the parties hereto, up to a total sum of $5,000,000, shall be referred to collectively as the Loan). The Loan shall be used solely by Borrower in the operation of its business as determined by the President of Borrower, subject to
supervision thereof by Board of Directors of Borrower. As of March 27, 2002, Lancer Offshore, Inc. loaned the Borrower the




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principal amount of $3,360,000. The Loan shall be repaid on June 30, 2002 unless it is mandatorily converted into shares of
Borrowers Common Stock before that date as provided in Section 1.5 hereof.





3.    Section 1.1(b) of the Loan Agreement shall be amended to read as follows effective as of March 27, 2002:





(b) On August 7, 2001 Lancer Partners L.P. agrees to lend to Borrower the aggregate sum of $875,000, of which (i) the sum of $350,000 shall be paid to Borrower on August 7, 2001 and (ii) the sums of $275,000
shall be paid to Borrower on or about September 15, 2001, (but no later than September 20, 2001), and $250,000 on or about October 15, 2001 (but no later than October 20, 2001), or such other amount mutually agreed to by the parties hereto, provided
that Borrower has raised the sum of $1,500,000 in equity from persons other than Michael Lauer and his affiliates, including, without limitation, Lancer Offshore Inc., Lancer Partners, L.P., and The Orbiter Fund Ltd, on or before October 15, 2001
The Loan shall be used solely by Borrower in the operation of its business as determined by the President of Borrower, subject to supervision thereof by the Board of Directors of Borrower. The initial $350,000 principal amount of the Loan shall be
repaid on June 30, 2002, and the subsequent tranches of $275,000 and $250,000 of the Loan if and when made shall be repaid on June 30, 2002, unless such amounts are mandatorily converted into shares of Borrowers Common Stock before that date
as provided in Section 1.5 hereof. As of March 27, 2002, Lancer Partners L.P. loaned the Borrower the principal amount of $900,000.





4.    Section 1.5 of the Loan Agreement shall be amended to read as follows, effective as of March 27, 2002:





(a) The Loan shall be mandatorily converted into shares of the Common Stock of Borrower at the rate of one share per each $0.05 principal amount of debt,
including interest (subject to adjustment for stock dividends, stock splits and reverse stock splits, if any) immediately upon (i) the approval of such conversion by Borrowers shareholders at a meeting of shareholders held for such purpose
(among other purposes) and (ii) Borrowers receipt of $4,260,000 in equity from persons other than Michael Lauer and his affiliates, including, without limitation, Lancer Offshore, Inc., Lancer Partners L.P. and The Orbiter Fund Ltd., on or
before June 30, 2002.





In consideration of the foregoing, each Lender unconditionally acknowledges that the Company is not
in default under the Loan Agreement, any of the Notes or any other agreement which is a part of the Loan Agreement.





Except as
amended as set forth herein, the Agreement, including, without limitation, the Amended and Restated Pledge/Security Agreement shall continue in full force and effect in accordance with its terms.




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If this letter accurately sets forth our understanding, please sign your name below and return
your signed original to us immediately.





Very truly yours,WORLD WIRELESS COMMUNICATIONS, INC./s/    David D. SingerDavid D. Singer, PresidentLANCER OFFSHORE, INC.

LANCER PARTNERS L.P./s/    Michael Lauer

/s/    Michael LauerMichael Lauer, Manager

Michael Lauer, Manager




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