Grey Island Systems International Inc.

Grey Island Systems International Inc.

July 04, 2005 10:07 ET

CORRECTION FROM SOURCE: Grey Island Closes NextBus Transaction

TORONTO, ONTARIO--(CCNMatthews - July 4, 2005) - The release sent this morning at 9:28 am ET inadvertently mentioned the incorrect date of a previous press release. The correct date should be June 23, 2005. The revised version of the release follows:

Further to its press release dated June 23, 2005, Grey Island Systems International Inc. (TSX VENTURE:GIS) announces that it has closed the transaction to acquire the NextBus business according to the terms previously disclosed.

"The acquisition of the NextBus business reinforces the companies strategy to; focus on the government AVL and fleet management market, to expand our offerings to additional agencies within our respective client base, and to grow organically and through acquisitions." Said Andrew Moore, CEO Grey Island Systems International Inc.

NextBus Inc., a newly created wholly owned subsidiary of Grey Island Systems International Inc. has retained the staff and facilities of NextBus Information Systems Inc. With the addition of the NextBus staff, Grey Island Systems International Inc., through its 3 wholly owned subsidiaries, Grey Island Systems Inc., Interfleet Inc., and NextBus Inc., employs approximately 50 people in 3 facilities located in Toronto, New York and the San Francisco Bay Area.

About Grey Island Systems International Inc.

Grey Island Systems develops markets and hosts Internet-based Automated Vehicle Location and Telematic systems for public and private organizations with customers in Canada and the United States. InterFleet® has been used continuously since 1998 to track Public Works and other fleets. To find out more about Grey Island Systems International Inc. (TSX-V: GIS), visit our website at

About NextBus

NextBus Information Systems Inc. is dedicated to the public transportation industry. Its mission is to enhance the experience of using public transportation by providing high value information to both passengers and managers of public transit. Bus locations are tracked via an automatic vehicle location (AVL) system. NextBus processes the information, calculates predicted arrival times and transmits arrival time predictions to the wired and wireless Internet. NextBus empowers the individual and decreases the anxiety associated with mass transit. NextBus provides management tools that help transit agencies improve performance and reduce costs. Further information is available at


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