Grey Island Systems International Inc.: InterFleet, Inc. Wins Illinois State Toll Highway Authority Contract.TORONTO -- Grey Island Systems International Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:GIS) today announced that wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. InterFleet, Inc. has been awarded a contract with the Illinois State Toll Highway Authority (Illinois Tollway) to track and manage its fleet of 340 service vehicles. Total value of the contract is $US 555,840 and includes five (5) one (1) year renewal options. The nationally regarded Illinois Tollway covers 274 miles of interstate roads that consists of 1,650 lane miles (1467 mainline and 183 ramp miles), 539 bridge structures, 20 mainline plazas and 47 ramp plazas. The Tollway handles more than 1.3 million vehicle trips daily. The project will showcase InterFleet's industry-proven winter road maintenance applications as well as track the Tollway's Highway Helper vehicles and portable changeable message sign (PCMS PCMS Purchase Card Management System PCMS Pinon Canyon Maneuver Site (Fort Carson, CO) PCMS Project Configuration Management System PCMS Patient Care Management System PCMS Passive Countermeasure System ) trailers. Specifically, the system will provide cumulative and real-time salt application information as well as air and road temperature information on snow plows. This feature helps to optimize snow removal operations as well as offer improved real-time customer service. The Highway Helper and PCMS applications will assist in dispatching, incident resolution and increasing the safety of the Tollway. A notable aspect of the implementation is the provision for software services to provide a real-time interface from InterFleet to the Tollway's state-of-the-art Traffic and Incident Management System (TIMS TIMS Thermal Ionization Mass Spectrometry TIMS The Institute of Management Sciences TIMS Thermal Infrared Multispectral Scanner TIMS Transportation Information Management System TIMS The International Molinological Society TIMS Tuberculosis Information Management System ). "The sophisticated design of the InterFleet system allows Illinois Tollway to implement one solution for the diverse business needs of its various subfleets." said Jerry Dellacorte, U.S. Vice-President of Operations. "The real-time interface to TIMS will highlight InterFleet's ability to bring added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
Additionally, Grey Island Systems International Inc. (the "Corporation") announces that it has granted options to purchase an aggregate total of 210,000 Common Shares of the Corporation at an exercise price of $0.325 per share, which options have been granted to an officer of the corporation and officers of two of its subsidiaries. Forward Looking Statements This news release contains forward-looking information based on management's best estimates and the current operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. . These forward-looking statements are related to, but not limited to, Grey Island's operations, anticipated financial performance, business prospects and strategies. Such forward-looking statements 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 those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, business risks, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, there can be no assurance that the expectations of the management of Grey Island will prove to be correct. About Grey Island Grey Island Systems International Inc. (TSX VENTURE:GIS), through its subsidiaries NextBus Inc. in Alameda, California Alameda is a city in Alameda County, California, United States. It is located on a small island of the same name next to Oakland, California in the San Francisco Bay. An additional part of the city is Bay Farm Island, which is adjacent to the Oakland International Airport. , InterFleet, Inc. in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York and Grey Island Systems, Inc in Toronto, Canada, is a leading provider of custom real-time GPS/AVL, security and Telematics solutions as well as real-time passenger information systems to government and related fleets. To find out more about our products and services, visit our websites at www.interfleet.com or www.nextbus.com. THE TSX VENTURE EXCHANGE TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. HAS NOT REVIEWED AND DOES NOT ACCEPT RESP RESP Response RESP Registered Education Savings Plan (Canada) Resp Responsibility Resp Respektive (Sweden: respectively) Resp Respiration RESP Respironics, Inc. ONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Grey Island Systems International Inc. (TSX VENTURE:GIS) |
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