Armada Data Corporation
TSX VENTURE : ARD

Armada Data Corporation

June 15, 2005 13:56 ET

eResearch Analysts Rate Armada Data a Speculative Buy with Target Price of $0.68

MISSISSAUGA, ONTARIO--(CCNMatthews - June 15, 2005) - Armada Data Corporation (TSX VENTURE:ARD) is pleased to announce that eResearch has issued a research report recommending Armada Data as a Speculative Buy with a 12-month target price of $0.68 per share.

The report was co-authored by analyst Beverly Brooks, MA (Economics), MBA and Director of Research Bob Weir, B.Sc., B.Comm., CFA . It was distributed June 13, 2005 to all eResearch subscribers and posted on www.eresearch.ca and can also be viewed on Armada Data's corporate website, www.armadadatacorp.ca.

The eResearch report highlights Armada Data's automobile pricing-information services that generate substantial savings for the Canadian insurance industry and for new-car buyers as well as advertising revenues and lead-generation opportunities for new-car dealers.

"This first-ever analysts' report on Armada Data was well researched and represents an accurate picture of our Company and its potential for substantial future growth," said Armada Data President Paul Timoteo.

About eResearch

Independent Equity Research Corp., operating as eResearch, is a leading source of continuous, independent research on publicly traded companies. eResearch can be commissioned by anyone to provide research. Clients include institutional and retail investors, investment dealers, limited market dealers, and corporations. The firm does not trade in the securities of the companies covered or accept any stock-related compensation for research services. It conducts no investment banking or investor relations services for the companies covered. It provides investors with in-depth information to assist in the investment decision process.

About Armada Data Corporation

Armada Data Corporation is a web-enabled Automobile Information Services Company providing accurate and real-time pricing data to institutional and retail customers on a fee-for-service basis. The Company creates, owns, and operates income-producing automobile websites in both the Business-to-Business (B2B) and Business-to-Consumer (B2C) verticals.

This release contains certain forward-looking statements that reflect the current views and our expectations of the Company with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. The TSX-Venture Exchange has not reviewed and does not accept responsibility of the adequacy or accuracy of this release.

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