AirIQ Inc.

AirIQ Inc.

June 16, 2008 08:46 ET

AirIQ Appoints Interim Chief Financial Officer

TORONTO, ONTARIO--(Marketwire - June 16, 2008) - AirIQ Inc. (TSX:IQ), a leader in Wireless Location-Based Services, specializing in Telematics and Security, today announced that the Company has appointed Donald Gibbs to the position of Interim Chief Financial Officer, effective June 13, 2008. Mr. Gibbs has also been appointed as a director nominee for consideration at the upcoming Annual Meeting of Shareholders of the Company to be held on June 25th, 2008 at 10:00 a.m. ET at the Toronto Board of Trade.

"We are excited to have Don join the Company," said Steve Willey, Chief Executive Officer of AirIQ. "He has had great success in building several of the most successful technology companies in Canada, and his expertise will be of tremendous benefit to AirIQ."

"I am eager to assist AirIQ at both the Board and financial level at this time in the Company's history when it is looking at numerous opportunities," said Donald Gibbs. Mr. Gibbs has a Bachelor of Commerce degree from the University of Ottawa and is a Certified Management Accountant with the Canadian Society of Management Accountants. He is a successful financier and entrepreneur who has held numerous CEO and CFO positions in high technology companies during his career.

The Company also announced that its contract with Michael J. Robb, who had previously been appointed acting Vice President, Finance and Administration of the Company, expired in accordance with its terms on May 31, 2008. However, Mr. Robb will continue to provide financial related support to the Company on a contract basis.

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 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 results in recurring revenues for each device deployed. AirIQ's offers service to three primary markets: Commercial Fleets; dealers that service Consumer segments; and Marine Fleets (fisheries and workboat). AirIQ gives vehicle and vessel owners the ability to monitor, manage and protect their mobile assets. Services include: instant vehicle locating, boundary notification, automated inventory reports, maintenance reminders, security alerts, vehicle disabling and unauthorized movement alerts. 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. 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 and results 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 new information, future events or otherwise.

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