DDS Wireless International Inc.

DDS Wireless International Inc.

October 14, 2010 08:00 ET

DDS Wireless Announces Taxicab Technology Enhancement Agreement Comes to the End of Term

RICHMOND, BRITISH COLUMBIA--(Marketwire - Oct. 14, 2010) - DDS Wireless International Inc. (TSX:DD) ("DDS") announces today that its Taxicab Technology Enhancement Agreement with the Taxi and Limousine Commission of New York City ("TLC") has come to the end of its term and DDS will, in cooperation with TLC, be phasing out its participation in the program. 

As participant since 2006, DDS has established itself as a leading vendor of passenger self-service fare payment and mobile media technology. The program has proven the market acceptance of passenger self-service fare payment by credit and debit card in the rear seat of the taxicab, with the use of payment cards in taxicabs with DDS technology reaching 50% of total transactions. It has also seen the widespread implementation of screen-based delivery of advertising and other content in the passenger zone. In combination with its market leading computerized taxicab dispatch technology, DDS is uniquely placed to provide end-to-end taxicab technology solutions to dispatched fleets of all sizes.

The NYC program is designed to serve the city's medallion taxicabs, which, unlike other metro markets, pick up passengers from the street or from taxi stands and are not dispatched. DDS' focus for the integration of passenger zone systems is medium to large sized taxi fleets in metro markets where dispatch is a fundamental and strategic taxi business process.

This event is not expected to have a material impact on the Company's revenues.

About DDS Wireless International Inc.

DDS Wireless International Inc. is a global leader in providing application software for multiple vertical markets within the transportation industry. The Company specializes in transit routing and scheduling, real-time dispatching, vehicle location and tracking software applications, communications infrastructure as well as in-vehicle wireless devices. DDS Wireless operates four businesses dedicated for Transit, Taxi, Limousines and Work Truck, and Wireless Devices and Communication Infrastructure. The Company supports its customers worldwide through its offices in Canada, Finland, Singapore, Sweden, U.K. and U.S.A.

Forward-Looking Statements

This press release may contain forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, operations, anticipated financial performance, business prospects and strategies, statements about future market conditions, supply and demand conditions, revenues, gross margins, operating expenses, profits, and other expectations, intentions, and plans contained in this press release that are not historical facts. Such forward-looking statements 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 those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, business risks, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Given these risks and uncertainties DDS Wireless cannot guarantee that any forward looking statements will be realized. 

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