Intermap Technologies Corporation
TSX : IMP

Intermap Technologies Corporation

June 29, 2005 08:00 ET

Intermap Announces US$2.6m in New Contracts for 3D Digital Map Data

DENVER, COLORADO--(CCNMatthews - June 29, 2005) - Intermap Technologies, Inc., (TSX:IMP) today announced new contracts for its digital topographic mapping data totaling more than US$2.6 million.

Intermap, in conjunction with Aero-Metric, Inc., reported that the two companies have received a follow-on contract to map additional areas in the state of Alaska. Following from the previous successes with the Department of the Interior, the Intermap/Aero-Metric team has once again been selected to collect and process data for the National Petroleum Reserve Alaska (NPRA). This is the fifth contract from the Department of the Interior received over the past four years with Intermap's portion of this new contract valued at approximately US$907,000.

"The unpredictable weather in the area makes Intermap's STAR technology an optimal solution for this mapping project," explained Michael Bullock, Intermap's vice president of sales and marketing. "We have the ability to not only map an area and produce high-resolution elevation models, but our technology is also uniquely suited to mapping areas like the northern slope of Alaska because we have the ability to acquire data through clouds and in adverse weather conditions. As with our past NPRA programs, this data will support the mapping and resource management activities of the USGS and the Bureau of Land Management."

In addition, Intermap reported that it received a follow-on contract to support the continued processing of elevation data from the NASA Shuttle Radar Topographic Mapping (SRTM) mission. The contract value to Intermap is approximately US$1.1M with the period of performance extending through December 2005. Intermap is utilizing its expertise in accurate digital mapping software and processing techniques to fill voids in the SRTM data with alternate sources of elevation information. In February 2000, NASA's Space Shuttle flew the SRTM mission, collecting digital elevation data of the majority of the planet. It is the first, near worldwide, radar coverage that provides for the creation of three-dimensional digital elevation model (DEM) maps.

In addition, Intermap recentley sold a NEXTMap license valued at approximatley US$635,000 for digital map data from its NEXTMap database. The sale is anticipated to be complete prior to the end of the second quarter of 2005.

"Intermap's NEXTMap business model is demonstrating it value to the marketplace," said Brian Bullock, CEO and President of Intermap. "Maping a region once then reselling the data numerous times to multiple customers allows our technology and derived products to be extremely price competitive, while providing very accurate off-the-shelf data options for various customers and applications."

About Aero-Metric

AERO-METRIC is one of the nation's leading aerial photography, surveying and geo-spatial services firms. In addition to its Sheboygan corporate headquarters, clients are served through a network of regional division offices in Anchorage, Alaska; Chilton, Wisconsin; Minneapolis, Minnesota; Fort Collins, Colorado; Dulles, Virginia; and Seattle, Washington. The firm employs approximately 300 nationwide.

About Intermap

Intermap is digitally remapping entire countries, building unprecedented national databases, called NEXTMap, of highly accurate digital topographic maps (including elevation). Customers purchase Intermap's high-quality, low-cost data to facilitate better decision-making for numerous commercial, governmental, military and consumer applications.

Demand for NEXTMap data is growing as new commercial applications are emerging, including geographical information systems (GIS), engineering planning, transportation, automotive, navigation, flood, irrigation, environmental management and planning, telecommunications network planning, aviation, simulation and 3D visualization. Internet applications include virtual tours, topographic maps and computer games. The products are also used to add interactive intelligence to airborne and satellite images.

Headquartered in Denver, Colorado, Intermap employs more than 280 people worldwide, with offices in Calgary, Ottawa, Munich and Jakarta. Intermap is publicly traded on the Toronto Stock Exchange under the symbol IMP.

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