AirIQ Inc.
TSX : IQ

AirIQ Inc.

June 28, 2005 07:00 ET

AirIQ Signs Agreement with MASS Electronics to Distribute Consumer Telematics Products

TORONTO, ONTARIO--(CCNMatthews - June 28, 2005) -

MASS Electronics adds MobileIQ™ to extensive vehicle electronics products

AirIQ Inc. (TSX:IQ), a leader in the Telematics industry, enters into an agreement with MASS Electronics Ltd. (MASS) to be an authorized distributor of its consumer product, MobileIQ™ Intelligent Vehicle Protection. MASS, a premier supplier of automotive electronic components, will promote, market and sell MobileIQ™ to its extensive network of automotive dealership clients in Ontario.

MASS is the largest company of its kind in Canada that specializes in sales, service, installation and repair of car audio and other automotive electronic components. MASS employs over 60 Government certified mobile technicians, 120 employees and services over 450 automotive dealerships.

"MASS is the type of business that combines excellent distribution sales abilities with exceptional technical expertise," says Miguel Gonsalves, Vice President, Consumer Division of AirIQ. "As a result, MASS enjoys trust-based, long term relationships with its automotive dealership clients. AirIQ is excited about entering into this partnership with MASS to be a distributor of MobileIQ™ products across Ontario."

"Before we made a decision to add MobileIQ™ to our product line, we did our homework by looking at the technology, back-end support and market share of current Telematics products, and recognized AirIQ as the clear leader," explains Bryan Gleeson, Director of Sales and Marketing at MASS Electronics. "We wanted to offer our distribution network an advanced technology solution for vehicle safety and security, from a viable company that can be backed by the success of over 170,000 subscribers."

Revenue from the distribution agreement does not carry a specific value but commences with an initial shipment of 250 vehicular devices in June 2005. The value of the agreement will arise from the mutual market success of the parties.

About MASS Electronics Ltd.

MASS Electronics Ltd. is a company of the MASS Group, and specializes in sales, service, installation and repair of car audio and other automotive electronic components. MASS Electronics started doing business in 1959 as a small radio shop and grew through the years. Operating from a modern 26,000 square foot facility in Richmond Hill, Ontario, MASS Electronics has over 60 Government certified technicians operating from the head office and other remote locations to provide mobile service to car dealerships throughout Ontario. Order taking, technician scheduling and radio dispatching is coordinated by the Client Care Centre located in Richmond Hill. MASS's mobile technicians are supported by marketing and technical teams to assist with the complexity of in-car electronics. MASS Electronics aims to be the leading supplier of automotive electronic components to car dealers of all makes in Ontario. For more information please visit www.mass.ca.

About AirIQ

AirIQ trades on the Toronto Stock Exchange under the symbol IQ. A leader in the Telematics marketplace, AirIQ is headquartered in Pickering, near Toronto, Canada. The Company operates as a wireless Internet applications service provider specializing in Telematics. Telematics is the name given to information and control messages sent wirelessly to and from vehicles and vessels. AirIQ's services are offered to five primary markets: Commercial Fleets; Consumer; Vehicle Finance; Indirect Distribution; and Marine Fleets. AirIQ gives vehicle and vessel owners the abilities to manage and protect their mobile assets. AirIQ's services include: vehicle locating, boundary notification, automated inventory, maintenance reminders, security alerts, vehicle disabling, unauthorized movement alerts and many more features. For additional information on AirIQ, 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 words such as "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. 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. 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.

Contact Information

  • AirIQ Inc.
    Mary-Catherine Telemaque
    Manager, Corporate Communications
    905-831-6444, Ext. 4326
    mctelemaque@airiq.com
    or
    Mass Electronics Ltd.
    Bryan Gleeson
    Director of Sales & Marketing
    905-764-9533, Ext. 230
    bgleeson@mass.ca
    or
    Mass Electronics Ltd.
    Conrad Italiano
    Business Development Manager
    905-764-9533, Ext. 244
    citaliano@mass.ca