AirIQ Announces Workforce Consolidation

Management Changes and Improved Operating Efficiencies

• Press Release
• Source: AirIQ Inc.
• On 8:33 am EST, Wednesday December 3, 2008

TORONTO, ONTARIO--(MARKET WIRE)--Dec 3, 2008 -- AirIQ Inc. (Toronto:IQ.TO - News), a leader in Wireless Location-Based Services, specializing in Telematics and Security, today announced a reduction in its workforce of approximately 36%.

Related Quotes

Symbol	Price	Change
IQ.TO	0.01	0.00

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"We appreciate the many contributions these employees have made to AirIQ," said Steve Willey, Chief Executive Officer of AirIQ, "and while these actions are difficult, they are necessary considering current economic conditions and the Company's commitment to continue to reduce operating expenses."

The workforce reduction will save approximately $1,000,000 annually. One time severance costs of approximately $850,000 will be incurred, as an extraordinary expense, with payment to be made over the next few quarters.

The process of re-alignment of AirIQ started over a year ago and has resulted in a continuous reduction of expenses and operating losses. It has also delivered a lean and highly cross-functional team that is motivated to see the Company meet its stated objectives of retaining the full value of its multiple businesses and delivering on its goal of cash flow break-even operations.

As part of the consolidation, the Company also announced the appointment of Donald Gibbs as General Manager of the Company's Land business unit. Don will also continue in his role as Chief Financial Officer of the Company.

"We have been very pleased to have Don on our team these past several months, and appreciate his willingness to further support AirIQ in this expanded role," said Steve Willey, President and Chief Executive Officer of AirIQ. "Together with Irwin Rodrigues, Vice President and General Manager of our Marine business unit, the Company will maintain its focus on improving operating efficiencies and productivity, while enhancing the Company's service offerings in the telematics and vessel monitoring and communications marketplace."

Forward-looking Statements

This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as "goal", "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. These statements are based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including AirIQ's perception of historical trends, current conditions and expected future developments as well as other factors management believes are appropriate in the circumstances. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes and results may differ materially from those expressed in such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Other than as may be required by law, AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

     Contacts:
     AirIQ Inc.
     Steve Willey
     Chief Executive Officer
     (416) 275-6994
     Email: swilley@airiq.com
     Website: http://www.airiq.com