AirIQ Named Fifth Fastest Growing Technology Company in Deloitte Technology Fast 50.

TORONTO -- Higher Ranking and Second Consecutive Year

AirIQ Inc. (TSX:IQ), a leader in the Telematics industry, has placed fifth within Deloitte's prominent Canadian Technology Fast 50 (Fast 50) Program, a ranking of the 50 fastest growing technology companies in Canada. The rankings are determined by percentage revenue growth over a five-year period, from 1999 to 2003.

AirIQ's increase in revenues was 3,690 percent from 1999 to 2003. The ranking was achieved prior to several recently announced acquisitions. Last year, AirIQ ranked 24th in the same program with revenue growth of 1,473 percent.

"The higher ranking is a culmination of the growing adoption of Telematics services and the diligent efforts of our entire team," explains Donald Simmonds, President and CEO of AirIQ. "The use of wireless for machines of all types is just at the beginning stages and we are thrilled to be recognized in fifth place among Canada's fastest growing technology companies."

Aircept, one of AirIQ's recent acquisitions, was selected as a Rising Star in the Deloitte Technology Fast 50 Program for Orange County, California. For Rising Star companies the rankings are based on the percentage of growth in fiscal year revenues over three years, from 2001 to 2003. These rankings will be released on October 4, 2004.

"In an era where technology companies come and go, making the Deloitte Canadian Technology Fast 50 is a testament to a company's vision that allows growth over five years," said Garry Foster, National Director, Technology, Media & Telecommunications, Deloitte. "AirIQ's leadership have the right stuff for growth, and we salute their accomplishments."

To qualify for the Technology Fast 50, companies must have had operating revenues of at least $75,000 CDN for 1999 and $5,000,000 CDN for 2003, be controlled and headquartered in Canada, be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company's operating revenue and/or devote a significant proportion of revenues to research and development of technology.

As a winner of the Canadian Technology Fast 50, AirIQ will automatically be entered into the 2004 Deloitte Technology Fast 500 program that recognizes North America's top 500 fastest growing technology companies. For more information on the Deloitte Technology Fast 50 or Fast 500 programs, visit www.fast50.ca or www.fast500.com.

About AirIQ

AirIQ trades on The Toronto Stock Exchange under the symbol IQ. A leader in the Telematics marketplace, AirIQ is headquartered in Pickering, near Toronto, Canada. The Company operates as a wireless Internet applications service provider specializing in Telematics. Telematics is the name given to information and control messages sent wirelessly to and from vehicles. AirIQ's services are offered primarily to three large commercial markets (rental vehicle, commercial transport and heavy equipment fleets) and to the consumer market. AirIQ gives vehicle owners the abilities to manage and protect their mobile assets. AirIQ's services include: vehicle locating, boundary notification, automated inventory, maintenance reminders, security alerts, vehicle disabling, unauthorized movement alerts and many more features. For additional information on AirIQ and its products and services please visit the Company's website at www.airiq.com or call 1(888)606-6444.

About Deloitte

Deloitte, Canada's leading professional services firm, provides audit, tax, financial advisory services and consulting through more than 6,100 people in more than 47 offices. Deloitte & Touche LLP, operates in Quebec as Samson Belair/Deloitte & Touche s.e.n.c.r.l. The firm is dedicated to helping its clients and its people excel. Deloitte is the only professional services firm to be named to the Globe and Mail's Report on Business Magazine annual ranking of Canada's top employers for two consecutive years: 35 Best Companies to Work for in Canada in 2001 and 50 Best Companies to Work for in Canada in 2002. "Deloitte" refers to Deloitte & Touche LLP and affiliated entities. Deloitte is the Canadian member firm of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein (association), and, as such, neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the name "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu" or other related names. The services described herein are provided by the Canadian member firm and not by the Deloitte Touche Tohmatsu Verein.

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 "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. 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. 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.