QI Systems Inc. Name Change and New Stock Symbol on NASD.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--May 25, 2001

QI Systems Inc. (formerly QI Technologies Corp.) is pleased to inform our shareholders that the NASD has accepted our name change, effective May 25, 2001 and has provided us with a new trading symbol, QIIIF (formerly QONEF). Therefore, the trading symbols on the Canadian Venture Exchange (CDNX) is QII and on the NASD it is QIIIF.

QI Technologies Corp., (www.qitech.com) incorporated in 1974, is a public company located in Vancouver, B.C., Canada, which designs hardware and software for the rapidly expanding cash card industry. It is a leader in supplying solutions for smart card vending with products in use in Canada, the US, Venezuela, Hong Kong, the UK, and Norway. Products are also positioned for deployment in the Philippines, Chile, Korea, Japan and South Africa.

QI's SmartKit technology enables debit card purchases by consumers from a wide range of vending machines types. The SmartKit is currently being used in conjunction with many card schemes, including VisaCash, Mondex (Multos), CANTV (Venezuelan phone card), Telus SmartONE card and others. Due to the modular structure of the SmartKit, multiple card schemes can be run in parallel in the same unit with new schemes added at a later date. QI's SmartKits have been installed in Coca-Cola and Pepsi vending machines, coffee, snack and sandwich machines, laundromat machines (Maytag), copiers, newspaper vending boxes for such publications as USA Today and in parking machines.

Approved on behalf of the Board "Mesbah Taherzadeh" Mesbah Taherzadeh President & CEO 

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.