AirIQ Inc.

AirIQ Inc.

November 29, 2006 17:31 ET

AirIQ to Amend Special Warrants Issued to Senior Lender

TORONTO, ONTARIO--(CCNMatthews - Nov. 29, 2006) - AirIQ Inc. (TSX:IQ), a leader in global wireless security, today announced that effective on December 13, 2006 it will issue 3,750,000 special warrants exercisable into underlying common share purchase warrants (the "Replacement Warrants") to AirIQ's unrelated senior lender (the "Senior Lender") in replacement of the 3,750,000 special warrants exercisable into underlying common share purchase warrants (the "Original Warrants") originally issued by AirIQ to the Senior Lender on June 20, 2006. As previously disclosed in AirIQ's September 30, 2006 quarterly report, the Replacement Warrants are being issued in connection with certain amendments to AirIQ's secured debenture agreement and revolving operating loan made on November 9, 2006. The issuance of the Replacement Warrants will effectively change the exercise price of the Original Warrants from $0.24 per common share to $0.1844 per common share, and will extend the expiry date of the Original Warrants from June 20, 2009 to November 10, 2009. Upon issuance of the Replacement Warrants, the Original Warrants will be cancelled.

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. 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.

About AirIQ

AirIQ trades on the Toronto Stock Exchange under the symbol IQ. A leader in Global Wireless Security, AirIQ is headquartered in Pickering, near Toronto, Canada, with offices in Lake Forest and San Diego, California, U.S.A. The Company operates as a wireless Internet applications service provider specializing in location-based services. AirIQ's services are offered to four primary markets: Commercial Fleets; Consumer; Vehicle Finance; 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 or its products and services, please visit the Company's website at

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