Wireless Matrix Corporation

Wireless Matrix Corporation

August 13, 2008 16:45 ET

Wireless Matrix Announces Normal Course Issuer Bid

RESTON, VIRGINIA--(Marketwire - Aug. 13, 2008) - Wireless Matrix Corporation (TSX:WRX), Wireless Matrix announced today that it is commencing a normal course issuer bid for up to 750,000 common shares of the company, representing approximately 0.91% of the company's issued and outstanding common shares.

"We believe between our current cash balance and our ongoing ability to generate cash from operations that we can fund not only our growth strategies in the near term, but also our acquisition strategy," said J. Richard Carlson, Chief Executive Officer and President of Wireless Matrix. "We consider the market price of our common shares to be attractive, and that the purchase of outstanding common shares of the Corporation represents a good use of our cash in light of potential benefits to remaining shareholders."

The company's normal course issuer bid shall commence August 15, 2008 and terminate on August 15, 2009, unless earlier terminated by the company. Common shares purchased under the normal course issuer bid will be cancelled.

The price that Wireless Matrix will pay for any such common shares will be the market price at the time of acquisition. The maximum number of common shares that may be purchased on a daily basis, subject to any approved exceptions, shall be 58,896 common shares. Wireless Matrix has not purchased any of its common shares in the previous twelve month period. The Corporation has 82,640,039 common shares outstanding as at August 13, 2008. The Corporation has entered into an automatic share purchase plan with Macquarie Capital Markets Canada Ltd. in connection with the normal course issuer bid to allow for the repurchase of Common Shares at times when Wireless Matrix ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. The bid has been approved by the TSX, and shall be effected through the facilities of the TSX.

Macquarie Capital Markets Canada Ltd. will conduct the bid on behalf of the company.

Commenting on the NCIB, Maria C. Izurieta, Chief Financial Officer of Wireless Matrix, said, "It is important that investors understand that this use of cash in no way reflects a changed view around the many opportunities for growth that we see in front of us. We continue to believe we are exceptionally well positioned to execute on our growth strategies while moving forward to benefit from our advantageous stock price."

About Wireless Matrix:

Wireless Matrix provides enterprise-class wireless data solutions for business-critical mobile and remote asset operations. The Corporation delivers real-time data services across cellular, satellite and WiFi networks; a variety of modems and hardware platforms; and transportation applications that increase productivity and reduce operating expenses with service fleet operations. Wireless Matrix is headquartered in Reston, VA, and has offices in San Francisco, CA, and Burnaby, British Columbia. For more information visit www.wrx-us.com.

Forward Looking Statements:

General information regarding the Corporation set forth in this document, including management's assessment of the Corporation's future plans and operations contains forward looking statements that involve substantial known and unknown risks and uncertainties. These forward looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's and management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, imperfection of estimates, effective integration of acquisitions, industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources, ability to integrate and realize anticipated benefits from acquisitions, ability to resell third party network communications at favorable rates, and to effectively manage growth. The Corporation's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward looking statements and accordingly, no assurance can be given that any of the events anticipated to occur or transpire from the forward looking statements will provide what, if any benefits to the Corporation. All data presented herein should be read in conjunction with the Corporation's regulatory filings, with the appropriate Securities Commission and SEDAR. These filings, including the Corporation's Annual Information Form ("AIF''), are located at www.sedar.com.

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

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