AirIQ Inc.
TSX VENTURE : IQ.H

AirIQ Inc.

November 03, 2009 10:17 ET

AirIQ Reports Litigation Named as One of Several Defendants in Lawsuit

TORONTO, ONTARIO--(Marketwire - Nov. 3, 2009) - AirIQ Inc. ("AirIQ")(TSX VENTURE:IQ.H), a leader in Wireless Location-Based Services, specializing in Telematics, today announced that it has been named as one of several defendants in a claim filed in the District Court of Harris County, Texas. The individual plaintiff in the claim has alleged statutory damages for negligence in the amount of $10 million plus punitive and exemplary damages and attorney fees. The plaintiff alleges damages as a result of the installation of a device in a vehicle owned by the plaintiff without their knowledge. The device was installed by a dealer of an independent private-labeled reseller of AirIQ's products and services. The claim does not relate in any way to the performance of any AirIQ product or service. The Company believes that the allegations against it are entirely without merit and intends to vigorously defend the claim.

About AirIQ

AirIQ trades on the NEX, a separate board of the TSX Venture Exchange under the symbol IQ.H. A leader in Wireless Location Services specializing in Telematics, AirIQ has offices in Pickering, Ontario, Canada, and in San Diego, California, United States. The Company offers a suite of location based services (LBS) under a 'software as a service' (SaaS) model that yields recurring revenues for each device deployed. AirIQ delivers services to three primary markets: Commercial Fleets; dealers that service Consumer segments; and Marine Fleets (fisheries and workboat). AirIQ provides vehicle and vessel owners with the ability to monitor, manage and protect their mobile assets. Services include: instant vehicle locating, boundary notification, automated inventory reports, maintenance reminders, security alerts and vehicle disabling and unauthorized movement alerts. Management believes that AirIQ maintains a dominant market share in North America, in three segments, namely, rental vehicle fleets, regulated fisheries, and marine workboat markets. For additional information on AirIQ or its products and services, please visit the Company's website at www.airiq.com.

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 statements with words such as "goal", "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. These statements are based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including AirIQ's perception of historical trends, current conditions and expected future developments as well as other factors management believes are appropriate in the circumstances. 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 may differ materially from those expressed in such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. 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 such information, future events or otherwise.

For additional information on AirIQ or its products and services, please visit the Company's website at www.airiq.com.

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