Zedi Inc.

Zedi Inc.

March 11, 2008 16:47 ET

Zedi Inc. Announces Letter of Intent to Acquire Universal Measurement Solutions Ltd.

CALGARY, ALBERTA--(Marketwire - March 11, 2008) - Zedi Inc. (the "Company" or "Zedi") (TSX VENTURE:ZED) today announces that it has signed a letter of intent for the acquisition of all issued and outstanding shares of Universal Measurement Solutions Ltd. (UMS) by the wholly owned subsidiary, Zedi Canada Inc. UMS is a Calgary based private corporation providing measurement and control services to the oil and gas industry. Rundle Energy Partners was engaged by UMS as their exclusive advisor in this transaction.

The acquisition of UMS will enhance Zedi's position as a leader in production operations management solutions through the addition of the UMS hardware and software solutions. The combination of the two organizations will consolidate the surveillance market, adding the 700 wells currently monitored by UMS to the well count monitored by Zedi and will contribute approximately $850,000 annually to Zedi's recurring revenue base.

Significant gains in operational efficiencies will be realized through the reduction of duplicated effort in the two organizations and will lead to a modest increase in earnings for Zedi. Service for current UMS customers will be continued without disruption and the introduction of Zedi service programs, designed to deliver an excellent customer experience, will be initiated immediately upon closing.

The purchase price is comprised of an upfront cash payment of $900,000. The transaction is conditional upon the completion of due diligence and obtaining the necessary board and regulatory approvals.

Matthew Heffernan, President and CEO of Zedi, states, "The acquisition of UMS fits solidly with Zedi's strategy. It will allow us to increase the Zedi market penetration by expanding our solution lines with technology that delivers production operations management efficiencies through UMS's meterWatch™, compressorLink™, and plantBridge™ products. The combination of our two organizations will result in an installed base of approximately 10,000 wells."

Zedi Inc. (TSX VENTURE:ZED) specializes in production operations management, delivering systems and services that help oil and gas producers to efficiently manage people, assets and information. We enable our customers to increase earnings from production, decrease operating costs, effectively utilize human, physical and fiscal assets and mitigate compliance risk.

Established in 1987, Zedi has enhanced the operational performance of more than 200 upstream, midstream and oilfield service customers. Please visit www.zedi.ca, for more information.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

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