Intrinsyc Software International, Inc.
TSX : ICS

Intrinsyc Software International, Inc.

March 31, 2006 13:23 ET

Intrinsyc Clarifies Vancouver Sun Article and Announces Timing of Second Quarter 2006 Financial Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 31, 2006) - Intrinsyc Software International, Inc. (TSX:ICS) ("Intrinsyc") would like to clarify the comments attributed to Derek Spratt, Intrinsyc's CEO, included in the article published in today's Vancouver Sun which stated that Intrinsyc "has signed its first contract with a major mobile phone manufacturer that has licensed the Intrinsyc software." Mr. Spratt was referring to the Memorandum of Understanding (MOU) signed with Wistron Corporation, described in Intrinsyc's news release of February 13, 2006 (a copy of which is available at www.sedar.com or on Intrinsyc's Website). Intrinsyc has not yet entered into a licensing agreement with Wistron or any other mobile phone manufacturer. Intrinsyc continues to make good progress towards signing its first software licensing agreements for Soleus™ as it negotiates with a number of large handset manufacturers. Intrinsyc's Soleus development and certification schedule remains on track to achieve initial volume shipments by potential customers by the end of calendar 2006 or early 2007.

Intrinsyc also wishes to announce that it will release its second quarter 2006 financial results on Wednesday April 12, 2006. This follows the successful closing of the company's $24.1 million financing on March 30th 2006.

A conference call to discuss these results will be held Wednesday April 12, 2006 at 10:00 a.m. PST. Shareholders and interested parties wishing to listen to the conference call may dial 1 800 291 5032 (toll free) five minutes prior to the scheduled time. Alternatively, you may listen to a live audio Webcast of the conference call at http://www.intrinsyc.com/investors/pres_and_conf_calls.asp. Please submit questions to invest@intrinsyc.com prior to the call.

For those unable to participate, a replay of the conference call will be available from 12:01 p.m. PST on April 12, 2006 to 11:59 p.m. PST on April 19, 2006. The replay number is 1-800-633-8625 and the pass code for callers is 21288704. The call will also be archived at http://www.intrinsyc.com/investors/pres_and_conf_calls.asp.

About Intrinsyc Software International, Inc.

Intrinsyc is a mobility software and services company. Its mobile software products, engineering design services and systems integration expertise help customers make better decisions, improve productivity, and reduce time-to-market. Since 1996, Intrinsyc has built a strong customer base and has formed solid alliances with many leading technology companies including Microsoft, IBM, Intel, Philips, Siemens, Symbian, General Electric, Hand Held Products, Texas Instruments and Ford.

Named a Microsoft Gold Partner, Intrinsyc has extensive experience with the intricacies of designing, developing and supporting voice and data-enabled handsets built on Microsoft's Windows™ CE operating system. Intrinsyc is also the creator and licensor of Soleus™, the world's first feature phone software platform based on Windows™ CE. Soleus™ offers a new way to build feature phones, providing pre-integration with leading hardware platforms, all the telephony essentials and pre-integration of the most popular data applications.

Intrinsyc is a publicly traded company, headquartered in Vancouver, Canada with additional regional offices in Bellevue, Washington, and Birmingham, UK and Barbados. To find out more about Intrinsyc, visit: www.Intrinsyc.com.

Forward-Looking Statements

This press release contains statements which, to the extent that they are not recitations of historical fact may constitute forward-looking information. Such forward-looking statements may include financial and other projections as well as statements regarding the Company's future plans, objectives, performance, revenues, growth, profits, operating expenses or the Company's underlying assumptions. The words "may", "would", "could", "will", "likely", "expect", "anticipate", "intend", "estimate", "intend", "plan", "forecast", "project", "estimate" and "believe" or other similar words and phrases are intended to identify forward-looking statements. Persons reading this press release are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different.

Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include the risk factors set out in the Company's Annual Information Form.

The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Intrinsyc is a registered trademark of Intrinsyc Software International, Inc. All other trademarks are registered trademarks of the respective owners, and are hereby acknowledged.


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