Grey Island Systems International Inc.
TSX VENTURE : GIS

Grey Island Systems International Inc.

October 23, 2006 07:00 ET

Grey Island Named One of North America's Fastest Growing Technology Companies in 2006 Deloitte Technology Fast 500 Program

Attributes its resolute focus on government GPS/AVL applications to its 1211% five year revenue growth.

TORONTO, ONTARIO--(CCNMatthews - Oct. 23, 2006) - Grey Island Systems International Inc., ("Grey Island"), (TSX VENTURE:GIS) has been named to Deloitte's prestigious Technology Fast 500, the annual program which recognizes excellence, innovation and the fastest growing tech companies in North America. Rankings are based on percentage of growth in fiscal year revenues over five years, from 2001 - 2005.

Grey Island's President, Owen Moore, credits its concentrated approach to meeting the individual needs of public sector fleet operations in Canada and the United States with the company's 1211 percent revenue growth from 2001-2005. He said, "Our dominant market share in the GPS/AVL for government is a result of the focused development of our flexible end-to-end web-based solution to meet their unique requirements. It's a simple case of you can't be all things to all people - you won't gain market share in government competitive tendering processes without addressing the specialized needs of government".

"Sustaining high revenue growth over five years is an exceptional accomplishment. We commend Grey Island for making the commitment to technology and delivering on the promise of market longevity," said John Ruffolo, National Leader, Technology, Media & Telecommunications, Deloitte". "We are proud to honour Grey Island as a Deloitte Technology Fast 500 winner."

Grey Island's increase in revenues of 1211 percent from 2001 to 2005 resulted in a 151st ranking overall in the Deloitte Technology Fast 500.

About Grey Island

Grey Island, through its wholly owned subsidiaries, InterFleet Inc., Grey Island Systems Inc. and NextBus Inc., develops, markets and hosts real-time internet based automated vehicle location systems, real-time passenger information systems and vehicular telematic systems for public and private fleets in the United States and Canada. For more information please visit our websites at www.interfleet.com and www.nextbus.com.

About Deloitte

Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services through more than 6,200 people in 50 offices. Deloitte operates in Quebec as Samson Belair/Deloitte & Touche s.e.n.c.r.l. The firm is dedicated to helping its clients and its people excel. Deloitte is the Canadian member firm of Deloitte Touche Tohmatsu.

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.


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