Quorum Information Technologies Inc.

Quorum Information Technologies Inc.

October 03, 2007 12:06 ET

Quorum Announces Significant Revenue Milestone

CALGARY, ALBERTA--(Marketwire - Oct. 3, 2007) - Quorum Information Technologies Inc. (TSX VENTURE:QIS) (Quorum) announced today that it has achieved a significant milestone in the company's growth and progress towards a positive cash flow position. With the addition of recent installations in the U.S. and Canada, that are now actively using XSELLERATOR™, the company's comprehensive Dealership Management System (DMS) solution, Quorum has now surpassed $1 Million in quarterly support revenue.

This is an important development for the company, as a consistent, on-going revenue stream is the key to turning the corner towards a positive cash flow.

"The dealer-systems business is very support intensive. The fixed costs to support our customers are a significant component of our overall operations expenses. As we grow our customer base, thus the annuity part of our revenue, we move closer to our goal of financial independence without reliance on continued new installation revenue," commented Maury Marks, Quorum's president and CEO. "We are very excited to hit this key milestone as with this achievement, combined with other internal initiatives, we are well poised to meet our goal of becoming operationally cash-flow positive by the end of this year, which will be welcome news to investors and customers alike," he added.

About Quorum:

Headquartered in Calgary, Alberta, Quorum's focus is on developing, marketing, implementing and supporting its XSELLERATOR product for the automotive vertical. XSELLERATOR is a dealership and customer management software product which automates, integrates and streamlines every process across departments in a dealership. One of the select North American suppliers of General Motors' IDMS, Quorum is the third largest DMS provider for GM's Canadian dealerships with more than 20% of the market. Quorum is a Microsoft Gold Certified Partner and Field-Level Managed ISV in both Canada and the United States. Quorum Information Technologies is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS. For additional information please go to www.QuorumDMS.com.

Contact Information