Fireswirl Technologies Inc.
TSX VENTURE : FSW

Fireswirl Technologies Inc.

November 17, 2008 17:42 ET

Fireswirl Signs LOI for Fine Support UI Technology in Greater China

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2008) - Fireswirl Technologies Inc. (the "Company") (TSX VENTURE:FSW) announces its wholly owned subsidiary Fireswirl Technologies (Shenzhen) Co. Ltd. ("FTSCL") has entered into a letter of intent with JCs China Co. Ltd. ("JCs") and Fine Support Co. Ltd. ("Fine Support"). Fine Support is a Japanese registered company. JCs is a registered company in the Peoples Republic of China and is the sole distributor of Fine Support's products in China. The letter of intent requires the parties to the agreement to enter into a definitive agreement by January 19, 2009 whereby FTSCL would be granted exclusive rights for exploitation of the content and technology of Fine Support (through JCs) for the telecommunication industry of Greater China consisting of China, Taiwan, Hong Kong, and Macau. The definitive agreement will among other things include responsibilities, expense allocation, and revenue sharing of which the Company will provide details upon finalization. There is no guarantee that a definitive agreement will be reached or extended by January 19, 2009 between the parties to this agreement.

Fine Support is a leader in the Japanese changeable mobile phone User Interface (UI) market which allows users to personalize their mobile phones from a stock of approximately 3,000 UI themes based on popular Asian animation characters and Asian artwork. The technology supports wireless carriers to "push" new user interfaces to their customer's mobile phone. There has been 24 million downloads of changeable mobile phone UI in Japan since its inception and the market is estimated to be worth over US$100 million in Japan in 2008, according to the Mobile Content Forum of Japan.

"Over 40% of UI content providers in Japan are presently utilizing Fine Support's UI technique and content," says Masatoshi Matsumoto, CEO of Fine Support, "and we are glad to work with JCs and Fireswirl to explore the Greater China market with our proven technologies and business model."

"This product has been successfully deployed and received wide acceptance in Japan," says Dale Peterson, Fireswirl's CEO. "We believe there is comparable demand for this product in China and that 'push user interface technology' is of keen interest to the wireless carriers in Greater China."

About Fireswirl

Fireswirl Technologies Inc. (TSX VENTURE:FSW) has been a developer of gaming and entertainment software since 1999. The Company's technology has broad applications for solutions requiring multiple payment interfaces, multi-currency and multi-language capabilities for either internet or wireless applications. With offices in Canada and China, the company is active in sales of mobile handsets and providing value added services for the telecommunications industry.

Further information can be found on the company at: www.fireswirl.com.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Fireswirl Technologies Inc. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, foreign exchange fluctuations, general demand, competition and our ability to implement our business plans and strategies in a timely manner or at all. These risks, as well as others, could cause actual results and events to vary significantly. Fireswirl Technologies Inc. does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

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