CSI Wireless Raises $4.3 Million

CSI Wireless and its GPS and wireless product lines received a vote of confidence during very tight capital markets, in the form of a $4.3-million cash injection from various investors.

CALGARY, Alberta, Canada - Nov. 22, 2002 - (TSX:CSY): CSI Wireless Inc., a leading provider of advanced wireless and GPS technologies for the automotive, commercial and consumer markets, is pleased to announce that it has successfully closed an offering of 3,287,309 Units. The Units were issued at a price of $1.30 per Unit for gross proceeds of approximately $4.3 million.

Each Unit is comprised of one CSI common share and one-half of one warrant to purchase a CSI common share. Each whole warrant entitles the holder to acquire one common share at a price of $1.80 per share until February 23, 2004.

The financing was completed through a syndicate of investment dealers led by CIBC World Markets Inc. and including National Bank Financial Inc., Acumen Capital Finance Partners Limited and Research Capital Corporation.

CSI intends to use the proceeds to pay down debt and for working capital purposes to fund the general growth of its business.

"This injection of capital provides support for pursuing additional business opportunities that have recently come to CSI Wireless," stated Stephen Verhoeff, President and CEO of CSI Wireless. "This strengthening of our balance sheet is also important for working with some of our larger corporate customers. 2003 should be an exciting year for us!"

About CSI Wireless
With offices in Calgary, Silicon Valley, and Phoenix, CSI Wireless (TSX:CSY) designs and manufactures innovative, cost-effective, wireless and GPS products for mobile and fixed applications in the agriculture, marine, automotive and other markets. Through the integration of GPS and wireless, CSI has begun serving 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 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 22.4 million outstanding. For online information about CSI Wireless, go to www.csi-wireless.com.

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, Public Relations Manager, CSI Wireless Inc., (403) 259-3311/615-8747(cell), jadams@csi-wireless.com.