WebTech Wireless Inc.
TSX : WEW

WebTech Wireless Inc.

October 30, 2007 08:00 ET

Correction to WebTech Wireless Announcement on Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 30, 2007) - WebTech Wireless Inc. (TSX:WEW), a leading provider of location-based and fleet Telematics services, wishes to advise a typographical error in the announcement on October 29, 2007 regarding financial results for full year 2007. The error was in the second sentence of the second paragraph. The paragraph should read as follows:

"Revenues of $15.3 million represent a decrease of 6% over prior year. Revenues fell from the prior year due primarily to the fact that a significant portion of sales in the period are from sales to the Company's Value Added Reseller in Brazil, for which no revenue was recognized from November 30, 2006 onwards. Revenue from sales in North America increased by 14% over the prior year as sales to government fleets and small to medium commercial fleets increased. Revenue from sales in Europe fell by 1% year over year as the Company focused its international operations on the now suspended operations in Brazil."

WebTech Wireless apologizes for any inconvenience caused. Versions on the Company website and SEDAR are updated.

About WebTech Wireless Inc.

WebTech Wireless Inc. (TSX:WEW) is a global Telematics, location-based services provider that develops, manufactures, and delivers turnkey wireless solutions designed to improve productivity and profitability. WebTech Wireless products include wireless hardware and software services running on cellular and satellite networks, and include Automatic Vehicle Location, Mapping, Reporting, Vehicle Diagnostics, Driver Status, In-vehicle Telemetry, Messaging, In-vehicle Navigation, and wireless application and Internet connectivity. WebTech Wireless is currently providing devices and services worldwide in eight languages to over forty-one countries covering five continents. WebTech Wireless' scalable solutions are used by a broad range of small, medium and Fortune 500 companies and by governments. For more information, please visit www.webtechwireless.com.

Forward Looking Statements

This press release contains forward-looking statements involving risks and uncertainties pertaining to, but not limited to product plans, timing, content, and pricing of products, market and industry expectations, the wireless communications industry, the mobile fleet industry, and general economic and political conditions. Given the risks and uncertainties inherent in the markets and industries referred to in this press release, WebTech Wireless cannot guarantee that any forward looking statements will be realized.

Trademarks are the property of their owners.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information