Intrinsyc Software International, Inc.

Intrinsyc Software International, Inc.

November 08, 2006 17:30 ET

Intrinsyc Software Provides Notice of Intent to Repay $8 million Debentures

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 8, 2006) - Intrinsyc Software International, Inc. (TSX:ICS) today announced that it has provided notice to Wellington Financial LP that the Company intends to repay the $8 million principal outstanding under the Series A and Series B Secured Debentures entered into in October 2005. Pursuant to the terms of the Debentures, the Company is entitled to repay the principal and any interest thereon on five days notice.

"The Debenture financing provided by Wellington Financial LP has played an important role in Intrinsyc's financial strategy and our ability to develop our Soleus™ feature phone software platform, which is on track for release by end of this calendar year," said Glenda Dorchak, Chairman and CEO of Intrinsyc. "I would like to thank Mr. McQueen for his valuable contribution to Intrinsyc over the past year, and the timely role his firm played in the progress we've made with Soleus."

"Wellington Financial is pleased to have contributed to the evolution and growth of Intrinsyc's products and offerings over the past year," added Mark McQueen, President and CEO of Wellington Financial LP.

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 mobile 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; Singapore; Birmingham, UK and Barbados. To find out more about Intrinsyc, visit:

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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