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CSI Wireless Signs $6M Sales Contract with AirIQ for Asset-Link 200
CSI Wireless Inc., a provider of advanced wireless and GPS technologies for the automotive, commercial and consumer markets, today announced a $6.5-million sales contract with AirIQ Inc., a service provider specializing in mobile asset management for commercial transport, rental vehicle fleets and service companies.
CALGARY, May 7, 2002- (TSX:CSY): CSI Wireless Inc., a provider of
advanced wireless and GPS technologies for the automotive, commercial and
consumer markets, today announced a sales contract valued at approximately
$6.5 million with AirIQ Inc. (TSE:IQ), a service provider specializing in
mobile asset management for commercial transport, rental vehicle fleets and
service companies.
AirIQ has agreed to buy at least $6.5 million of CSI Wireless' Asset-
Tracking technology, including the new Asset-Link(TM) 200 - the second member
of CSI's growing family of innovative and cost-effective fleet-tracking,
safety and security telematics products. Deliveries will be spread over a two-
year period.
The sales contract is in addition to an existing sales contract under
which AirIQ has been buying thousands of CSI's AssetVision(TM) telematics
products (enabling two-way wireless communications between vehicles and
AirIQ's web-based application service). AirIQ also has an option to purchase
CSI Wireless antennas, battery packs and other accessories.
"We are delighted that AirIQ, by signing this new agreement, is
continuing to place its trust in CSI Wireless for its asset-tracking
hardware," said Stephen Verhoeff, President and CEO of CSI Wireless.
The Asset-Link 200 is similar to the Asset-Link 100, which CSI Wireless
unveiled in January of this year. Both feature rugged housings, compact
design, a wide temperature range inside of which they will function
effectively, eight inputs and outputs, and proprietary configurable technology
that CSI Wireless developed for use with the cellular AMPS control channel
networks throughout North America and parts of Central and South America.
These products maximize the variations of a product while minimizing the
development cost and time to deploy any system.
The first network to certify Asset-Link, Microburst network, owned and
managed by Aeris.net, offers one of the world's largest digital cellular phone
coverage areas available from a single network - covering Canada, the U.S.,
Mexico and parts of Central and South America - by combining the resources of
many other cellular networks.
Control Channel technologies such as Microburst transmit small packets of
data -- such as location coordinates and sensor-collected information -- or to
operate vehicle features (door locks, or emergency alerts if air bags are
deployed) at a fraction of the cost and time of regular wireless phone calls.
Asset-Link 200 Offers Both Control Channel and Circuit Switched AMPS Capability
The Asset-Link 200, in addition to offering Microburst capability, offers
a Circuit Switched Advanced Mobile Phone Services (AMPS) capability. Whereas
the Asset-Link 100 and its low-cost Control Channel capability are ideal for
customers needing to communicate only "exceptions," or small pieces of
infrequent data, the Asset-Link 200, by combining Control Channel and Circuit
Switched capabilities, represents an ideal solution for customers requiring
more flexibility. They can use Control Channel for basic control and position-
reporting services, and use Circuit Switched to transfer files of vehicle
history data, or to perform over-the-air maintenance to in-vehicle hardware.
"CSI Wireless and AirIQ have enjoyed an excellent supplier/vendor
relationship", said Daniel H. Seto, Vice President of Technology Planning for
AirIQ. "CSI Wireless has taken the technology to the next level and our
purchase of their products is another important piece of our technology
development strategy. This contract demonstrates our confidence in CSI
Wireless as a primary Telematics equipment manufacturer."
Customers equipped with the Asset-Link 200 can perform many important
fleet-monitoring functions including:
| | - tracking vehicles' locations
- employing potentially life-saving automatic safety features including
crash-notification, airbag deployment notification and emergency
dispatch
- performing important security functions including door-lock and
ignition controls, plus "geo-fencing" (containing vehicles inside
specified geographic boundaries)
- monitoring vehicles' performance, plus engine running hours
- logging and analyzing vehicles' performance data, including
| temperature trends
About CSI Wireless
With offices in Calgary, Silicon Valley, and Phoenix,
CSI Wireless provides innovative, cost-effective, wireless and GPS vehicle and
asset management products for mobile and fixed applications in the automotive,
commercial and consumer markets. Through the integration of GPS and wireless,
CSI is actively pursuing several emerging high-growth markets including Fleet
Management, Asset Tracking, Telematics and Mobile Computing applications. The
Company owns several patents and intellectual property relating to wireless
networks and GPS technologies. CSI Wireless has licensed its cellular
technology to GPS, cellular handset, and chipset manufacturers. The company's
common shares trade on the Toronto Stock Exchange under the trading symbol
"CSY", with approximately 18.4 million outstanding. Its Web site is available at www.csi-wireless.com
About AirIQ
AirIQ is the operating name of eDispatch.com Wireless Data
Inc., which trades on the Toronto Stock Exchange under the symbol IQ. A leader
in mobile resource management, AirIQ is headquartered in Pickering, near
Toronto, Canada. The Company operates as a wireless Internet applications
service provider specializing in Telematics. Telematics is the name given to
information and control messages sent via wireless to and from vehicles and
their drivers in real-time. AirIQ's services are offered to three large
vertical markets, including rental vehicle fleets, commercial transport fleets
and service companies. AirIQ (www.airiq.com) gives managers a wealth of
information about their vehicles, including vehicle location, boundary
notification, automated inventory, maintenance reminders, security alerts and
remote vehicle disabling. AirIQ also offers dispatch services that enable
clients to send and receive job information to and from any PC, via the
Internet, to the display of their mobile workers' portable wireless device.
Asset-Link(TM) is a pending trademark of CSI Wireless Inc., AirIQ(R) is a
registered trademark of AirIQ Inc., and MicroBurst(R) is a registered
trademark of Aeris.net.
The above disclosure contains certain forward-looking statements that
involve substantial known and unknown risks and uncertainties. These forward-
looking statements are subject to numerous risks and uncertainties, certain of
which are beyond CSI Wireless's control, including: the impact of general
economic conditions, industry conditions, increased competition, the lack of
availability of qualified personnel or management, fluctuations in foreign
exchange or interest rates, stock market volatility and market valuations of
companies with respect to the announced transactions and the final valuations
thereof, and obtaining required approvals of regulatory authorities. CSI
Wireless's actual results, performance or achievement could differ materially
from those expressed in, or implied by these forward-looking statements and,
accordingly, no assurances can be given that any of the events anticipated by
the forward-looking statements will transpire or occur, or if any of them do
so, what benefits, including the amount of proceed, that CSI Wireless will
derive there from.
For further information:
Stephen Verhoeff, President & CEO, CSI Wireless Inc., (403) 259-3311, sverhoeff@csi-wireless.com
Cory Pala, Investor Relations, E-vestor Communications Inc., (416) 657-2400, cpala@e-vestorcom.com
Jeff Adams, P.R. Manager, CSI Wireless Inc., (403) 259-3311/615-8747 (cell), jadams@csi-wireless.com
Jerry Bokser, Director of Communications, AirIQ, (905) 831-6444 x4248, jbokser@airiq.com
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