WebTech Wireless Inc.
TSX : WEW

WebTech Wireless Inc.

March 14, 2011 15:34 ET

WebTech Wireless Responds to Goodwood Requisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 14, 2011) - WebTech Wireless Inc. (TSX:WEW) (the "Company") announced today that it has received from Goodwood Inc., a management company representing multiple funds holding 13.7% of the issued and outstanding shares of the Company, a requisition for a general meeting of the shareholders of the Company to consider and vote upon the election of directors. Goodwood acquired approximately 70% of its shares on March 1, 2011. The slate of directors Goodwood has proposed has a majority of Goodwood insiders or advisors as opposed to the current board which has a majority of independent members. The Board of Directors has established a committee of its independent directors (the "Special Committee") composed of Glen Brownlee (Chair), Paul Christie, Len Metcalfe, Dru Narwani and Peter W. Roberts to review and consider the matters set forth in the requisition and all other strategic alternatives available to the Company. The Special Committee has commenced the process of retaining appropriate advisors.

Mr. Brownlee, Chairman of the Board and the Special Committee, observed: "It is unclear how it could be in the best interest of the Company to give control to a minority shareholder who has only recently acquired an interest in the Company and has no discernible experience in the telematics business, however we will give due consideration to all options available to the Company."

The Board of Directors of the Company recommends that shareholders take no action in respect of the requisition pending completion of the Special Committee's review and the issuance of further particulars by the Company.

About WebTech Wireless®

WebTech Wireless Inc. (TSX:WEW) is a provider of vehicle fleet location-based services (LBS) and telematics technology. It develops, manufactures and supports end-to-end wireless solutions that improve the productivity, profitability, environmental compliance and safety of vehicle fleets. Its comprehensive suite of products and services include: automatic vehicle location (AVL), mapping, vehicle diagnostics, CO2 reporting, navigation, messaging, and mobile resource management. The Company serves customers of all sizes in the transport, government, service, insurance and OEM markets in over forty-one countries, including Fortune 500 companies. Specialized products include: Quadrant® commercial fleet solutions, InterFleet® solutions for government, and NextBus® real-time passenger information services for transit fleets. For more information, please visit www.webtechwireless.com.

This News Release may contain forward-looking statements involving risks and uncertainties pertaining to, but not limited to, product plans, timing, content, pricing of products, market and industry expectations, the wireless communications and mobile fleet industries, and general economic and political conditions. Given the risks and uncertainties inherent in the markets and industries referred to in this News Release, WebTech Wireless cannot guarantee that any forward-looking statements will be realized. All amounts in Canadian dollars (CAD$) unless otherwise noted. Trademarks are the property of their owners.

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

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