Intrinsyc Software International, Inc.
TSX : ICS

Intrinsyc Software International, Inc.

May 17, 2006 09:30 ET

Intrinsyc Announces New Organizational Developments

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 17, 2006) - Intrinsyc Software International, Inc. (TSX:ICS), a mobility software and services company, today announces several new organizational developments to focus on successfully meeting its customer's delivery schedules. The developments will enable Intrinsyc to work closer with its partners and customers for the rapid commercialization of Soleus™, the world's first feature phone software platform based on Microsoft® Windows™ CE, and include:

- New roles and responsibilities for key members of the Intrinsyc Executive

Further expanding the company's sales capability, geographical coverage, channel development and strategic go-to-market alliances

- The Mobile and Embedded Solutions (MES) business unit to continue as 'Customer Programs'

The core MES team, that develops mobility solutions for a variety of mobile operating systems, will continue as the Customer Programs team and is merging with the Soleus product delivery team to focus on maintaining operational efficiency with customer project delivery

- The Mobile Software Products (MSP) business unit is to continue as the 'Mobile Products Group'

The MSP team, that handles the majority of Soleus development, will continue as the Mobile Products Group to encompass forward looking business opportunities through focus on Soleus development, associated technologies and strategic direction

Mr. Andrew Hurdle has been promoted from Vice President of MES Business Development, Europe, to Executive Vice President for Worldwide Sales. He assumes responsibility for building Intrinsyc's already strong and growing sales force into one streamlined function to ensure that Soleus and core business mobility sales progress in parallel. Based in Intrinsyc's Birmingham, UK office, Mr. Hurdle has held a senior role with Intrinsyc for nearly two years, leading many of the company's successful mobile development projects. The new role will build on Mr. Hurdle's proven leadership skills and focus on delivering Soleus' first and subsequent customers, hiring sales executives, developing a handset sales channel and building a deep competence of sales excellence for the company. As an Executive Vice President, Mr. Hurdle becomes an Officer of the Company.

Mr. David Manuel has been promoted from Vice President of MES to the newly created position of Executive Vice President of Customer Programs, and will lead the Customer Programs team across Vancouver, BC, Bellevue, WA, Birmingham, UK and Singapore. Based in the company's Vancouver office, Mr. Manuel has held senior positions at Intrinsyc for seven years and has built a successful track record of consistently delivering customer projects on time and on plan. The Customer Programs team is responsible for the delivery of Soleus-based products to customers and consists of experts in embedded software development, with a strong knowledge of telephony-based software, user interface design and power management.

Mr. Randy Kath has been promoted from Vice President of Mobile Software Products to the newly created position of Chief Technology Officer and Vice President of the Mobile Products Group and will lead the Mobile Products Group based in Bellevue, WA. Mr. Kath has been with Intrinsyc for three years, leading the core product development of Soleus since its inception, as well as undertaking product marketing and business development. He has been integral to building Soleus from its foundation through to its official launch and the early customer engagements developing today. His role is expanded, as CTO, to look for derivative and new business opportunities through focus on Soleus development, associated technologies and strategic direction.

"The new organizational developments made today at Intrinsyc mark another step in the growth of the company and position Intrinsyc for long-term, sustainable growth," said Vince Schiralli, President & COO of Intrinsyc. "We have an exciting future ahead of us as we continue to engage with a number of potential customers for Soleus, and with these organizational changes we are ideally poised for success."

"Intrinsyc continues to build a healthy and profitable business and the new organizational changes are refining our focus as we prepare to deliver Soleus-based phones to the market with our customers and partners," said Derek Spratt, CEO of Intrinsyc. "We believe we have hit a sweet spot in the mobile phone market with Soleus and that Intrinsyc has a great opportunity to achieve rapid revenue growth in the future."

For more information on Intrinsyc and Soleus, visit http://www.intrinsyc.com and the Soleus product pages at http://www.intrinsyc.com/soleus.

About Intrinsyc Software International, Inc.

Intrinsyc is a mobility software and services company. Its mobile software products, engineering design services and systems integration expertise help customers make better decisions, improve productivity, and reduce time-to-market. Since 1996, Intrinsyc has built a strong customer base and has formed solid alliances with many leading technology companies including Microsoft, IBM, Intel, Philips, Siemens, Symbian, General Electric, Hand Held Products, Texas Instruments and Ford.

Named a Microsoft Gold Partner, Intrinsyc has extensive experience with the intricacies of designing, developing and supporting voice and data-enabled handsets built on Microsoft's Windows™ CE operating system. Intrinsyc is also the creator and licensor of Soleus™, the world's first feature phone software platform based on Windows™ CE. Soleus™ offers a new way to build feature phones, providing pre-integration with leading hardware platforms, all the telephony essentials and pre-integration of the most popular data applications.

Intrinsyc is a publicly traded company, headquartered in Vancouver, Canada with additional regional offices in Bellevue, Washington, and Birmingham, UK and Barbados. To find out more about Intrinsyc, visit: www.Intrinsyc.com.

Forward-Looking Statements

This press release contains statements which, to the extent that they are not recitations of historical fact may constitute forward-looking information. Such forward-looking statements may include financial and other projections as well as statements regarding the Company's future plans, objectives, performance, revenues, growth, profits, operating expenses or the Company's underlying assumptions. The words may, would, could, will, likely, expect, anticipate, intend, estimate, intend, plan, forecast, project, estimate and believe or other similar words and phrases are intended to identify forward-looking statements. Persons reading this press release are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different.

Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include the risk factors set out in the Company's Annual Information Form.

The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Intrinsyc is a registered trademark of Intrinsyc Software International, Inc. All other trademarks are registered trademarks of the respective owners, and are hereby acknowledged.

Contact Information