zed.i solutions inc.
TSX VENTURE : ZED

zed.i solutions inc.

November 01, 2005 19:50 ET

zed.i solutions inc. Announces 2005 Third Quarter Results and Annual Stock Option Grant

CALGARY, ALBERTA--(CCNMatthews - Nov. 1, 2005) - zed.i solutions inc. (TSX VENTURE:ZED) (the "Company") today releases results for the third quarter, 2005.

The Company generated third quarter revenues of $5,986,000, compared to $4,366,000 for the same period in 2004. This represents an increase of 37%, mostly attributable to sales revenue from the Smart-Alek™ System, zed.i's proprietary remote digital well-monitoring solution. The third quarter revenues continue a consistent trend of strong growth over the prior year.

A net income before taxes of $539,000 or $0.006 per share was realized in the third quarter, 2005 compared to a net profit of $318,000 or $0.005 per share for the same period in 2004 for an increase of 69%. An option expense of $382,000 was incurred in the third quarter, based on a fair value method calculation. Third quarter financial statements and MD & A are filed on Sedar and can be accessed at www.sedar.com or on the Company's website at www.zedisolutions.com.

The Company also announces that it has granted 4,116,667 options to employees, officers and directors of the Corporation. The exercise price of the options is $1.46, which is the closing price at the time the options were granted by the Board of Directors on November 1, 2005. The total number of common shares reserved for issue under stock options is 9,481,086, which represents 9.7% of the Corporation's issued and outstanding shares.

zed.i solutions inc. (ZED on TSX Venture Exchange) is a leading provider of innovative technologies for the management of production operations in the energy sector. The focus of our business is three fold. One is zed.i Field Intelligence, including electronic flow measurement and metering as well as optimization solutions that maximize production by controlling equipment in real time. The second focus is zed.i Web Services, comprised of network communications and software designed to manage the business information needs to link remote assets and production with operations, head office and throughout the enterprise. The third focus is the zed.i Services Culture, where we invest in our people and organizational infrastructure to continually improve customer experience. Energy producers can increase earnings by using digital information to improve the complex business processes that impact oil and gas production. zed.i seeks to develop and commercialize technologies that improve customer cash flow from the reservoir to the point of sale and address the needs of field, regional and head office operating personnel. For more information please visit www.zedisolutions.com.

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

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