Versatile Mobile Systems (Canada) Inc.

Versatile Mobile Systems (Canada) Inc.

February 24, 2005 20:06 ET

Versatile Update On InfoLogix Acquisition


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: VERSATILE MOBILE SYSTEMS (CANADA) INC.

TSX VENTURE SYMBOL: VMS

FEBRUARY 24, 2005 - 20:06 ET

Versatile Update On InfoLogix Acquisition

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 24, 2005) - Versatile
Mobile Systems (Canada) Inc. (TSX VENTURE:VMS)

PARTIES AGREE NOT TO PROCEED

Versatile Mobile Systems (Canada) Inc. (TSX VENTURE:VMS), on November
17, 2004, announced the execution of a Letter of Intent whereby
Versatile would acquire InfoLogix, Inc. and Optasia ACQ, LLC
(collectively "InfoLogix"). Versatile and InfoLogix have mutually agreed
not to proceed with the acquisition.

About Versatile Mobile Systems

Versatile Mobile Systems provides mobile business solutions that enable
companies to improve sales, marketing and distribution of their
products. By using Versatile Mobile's technology, over 300 companies in
the consumer packaged goods and transportation industries have gained
the benefits of supply chain visibility, shortened fulfillment cycles
and improved customer satisfaction. Versatile's international customer
list includes Cadbury Schweppes, Ocado, Albertsons, Michaels, Nordstrom,
Publix Supermarkets, K&L Distributors, Rug Doctor and Kellogg.
Additional information is available at www.versatilemobile.com

(C) 2005 Versatile Mobile Systems (Canada) Inc. All rights reserved.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Versatile Mobile Systems (Canada) Inc.
    John Hardy
    Chairman and CEO
    1-800-262-1633 or from Europe 001 425 778-8577
    or
    Versatile Mobile Systems (Canada) Inc.
    Fraser Atkinson
    CFO
    (604) 683-2915, ext. 214
    www.versatilemobile.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.