WebTech Wireless Inc.

WebTech Wireless Inc.
Grey Island Systems International Inc.

Grey Island Systems International Inc.

October 26, 2009 08:45 ET

WebTech Wireless Announces Completion of Acquisition of Grey Island

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2009) - WebTech Wireless Inc. (TSX:WEW) ("WebTech Wireless") and Grey Island Systems International Inc. (TSX VENTURE:GIS) ("Grey Island") are pleased to announce that they have completed their previously announced court-approved plan of arrangement (the "Arrangement") under the Business Corporations Act (Alberta) pursuant to which WebTech Wireless has acquired all of the issued and outstanding common shares of Grey Island.

Under the terms of the Arrangement, former shareholders of Grey Island receive 0.35 common shares of WebTech Wireless for each common share of Grey Island, subject to adjustment for fractional shares. Outstanding options to acquire Grey Island shares have been exchanged for options to acquire WebTech Wireless shares, with the exercise price of such options and the number of WebTech Wireless shares to be acquired on the exercise of such options adjusted in accordance with the same exchange ratio. The Grey Island common shares will be delisted from the TSX Venture Exchange in due course.

In connection with the Arrangement, the board of directors of WebTech Wireless was increased to seven directors, and is now comprised of Glen Brownlee (Chairman), Paul Christie, Leonard Metcalfe, Owen Moore, Dru Narwani, Peter Roberts and Anwar Sukkarie. Messrs. Christie and Moore are former directors of Grey Island.

Anwar Sukkarie, President & Chief Executive Officer of WebTech Wireless, commented, "We would like to thank the Grey Island shareholders for the close to 90% support of this arrangement at their meeting earlier in October, and welcome them to the WebTech Wireless family of shareholders. This brings to completion a long process during which the benefits of the acquisition were thoroughly evaluated and debated. From early on we saw the tremendous value that Grey Island's people and products could bring to WebTech Wireless' business, and now have every confidence that it will bring value to our shareholders as well."

Further details regarding the terms of the Arrangement are set out in Grey Island's management information circular dated September 15, 2009, which is available at www.sedar.com.

About WebTech Wireless Inc.

WebTech Wireless is a global telematics and location-based services provider that develops, manufactures and delivers end-to-end wireless solutions designed to improve the productivity, profitability and safety of vehicle fleets. WebTech Wireless products and services run on GPS and cellular networks and provide Automatic Vehicle Location, Mapping, Reporting, Vehicle Diagnostics, Driver Status, In-vehicle Telemetry and Navigation and Messaging. The Company delivers products and services in over forty-one countries to a variety of small, medium and Fortune 500 companies, with a particular focus on the transport, service delivery, government and automotive markets. For more information, please visit www.webtechwireless.com.

About Grey Island Systems International Inc.

Grey Island Systems International Inc. (TSX VENTURE:GIS), through its subsidiaries NextBus Inc. in Alameda, California, InterFleet, Inc. in New York, New York and Grey Island Systems in Toronto, Canada, is a leading provider of custom real-time GPS/AVL, security and Telematics solutions as well as real-time passenger information systems to government and related fleets. To find out more about our products and services, visit our websites at: www.interfleet.com or www.nextbus.com.

All trademarks and brands mentioned in this release are the property of their respective owners.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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