AirIQ Inc.

AirIQ Inc.

December 13, 2007 07:00 ET

AirIQ Engages Paradigm Capital Inc. as Advisor

Special committee selects banker to support review of strategic alternatives

TORONTO, ONTARIO--(Marketwire - Dec. 13, 2007) - AirIQ Inc. (TSX:IQ) ("AirIQ" or the "Company"), a leader in Wireless Location-Based Services, specializing in Telematics and Security, today announced that the Special Committee of AirIQ's Board of Directors has engaged Paradigm Capital Inc. ("Paradigm Capital"), an investment banking firm, to assist the Special Committee in conducting AirIQ's previously announced review of strategic alternatives.

Steve Willey, President and Chief Executive Officer, reported, "The Special Committee of AirIQ's Board of Directors completed an assessment of investment banking firms and has selected Paradigm Capital Inc. to assist in its mandate. In parallel to this process of assessing strategic alternatives, AirIQ's management will drive the Company forward through organic growth. The goal of this two-pronged approach is to maximize shareholder value.

"We interviewed several firms before selecting Paradigm Capital," said Randall Reynolds, Chair of the Special Committee. Paradigm has experience with AirIQ and its businesses, as well as the Telematics industry, and we have every confidence in their ability to explore the alternatives to best position AirIQ for growth in this market."

About Paradigm Capital Inc.

Paradigm Capital Inc. is an independent institutional equity dealer offering full investment banking, advisory, research, sales and trading services. Paradigm Capital is focused on small to mid-cap sized companies in technology (hi-tech, biotech and industrial technology), mining and metals, industrial products, entertainment and the oil and gas sectors. Founded in 1999, Paradigm Capital is based in Toronto and Calgary.

About AirIQ

AirIQ trades on the Toronto Stock Exchange under the symbol IQ. A leader in Wireless Location Services, specializing in Telematics and Security, AirIQ is headquartered in Pickering, near Toronto, Canada, with an office in San Diego, California, U.S.A. The Company operates as a wireless Internet applications service provider specializing in location-based services. AirIQ's services are offered to three primary markets: Commercial Fleets; Consumer; and Marine Fleets. AirIQ gives vehicle and vessel owners the abilities to manage and protect their mobile assets. AirIQ's services include: vehicle locating, boundary notification, automated inventory, maintenance reminders, security alerts, vehicle disabling, unauthorized movement alerts and many more features. For additional information on AirIQ or its products and services, please visit the Company's website at

Forward-looking Statements

This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes and results may differ materially from those expressed in such forward-looking statements. Other than as may be required by law, AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

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