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EQUITY INVESTMENTS ANNOUNCES APPROVAL OF NAME CHANGE, ELECTION OF DIRECTORS, SHAREHOLDER RIGHTS PLAN, AMENDMENT TO OPTION PLAN, RESULTS

 VANCOUVER, British Columbia, Dec. 14 /PRNewswire/ -- Equity Investments (Montreal: EQM.) announces the following:
 Approval of Name Change
 Equity Investments Corp. (to be known as TelSoft Mobile Data Inc.) announced today the approval by special resolution of the shareholders at its annual general meeting of the change of the company's name from Equity Investments Corp. to TelSoft Mobile Data Inc. The name change more accurately reflects the company's principal business of wireless digital telecommunications in the software industry.
 Election of Directors
 The following persons were elected to the company's board of directors: Peter L. Bradshaw, Robert D. Cudney, Elwin D. Cathcart, Douglas G. Hooper and W.G. Kanke.
 Approval of Proposed Shareholder Rights Plan
 Additionally, shareholders of Equity approved today, without amendment, an ordinary resolution, approving, ratifying and confirming the Shareholder Rights Plan. The objectives of the Rights Plan are to ensure that, to the extent possible, all holders of voting shares and convertible securities of the company are treated equally and fairly in connection with any take-over offer for the company.
 The Shareholder Rights Plan is designed to give the board of directors of Equity time, if appropriate, to pursue other alternatives to maximize shareholder value in the event of an unsolicited take-over offer for Equity. The plan will expire in five years unless extended by shareholders for an additional five years.
 Amendment to the Company's Employee Stock Option Incentive Plan
 Presently, options granted under the Employee Plan fully vest to the optionee upon granting, allowing the optionee to fully exercise his options the day they are granted. The purpose of the Employee Plan is to grant options to attract, retain and motivate key employees of the company. The shareholders of the company approved an ordinary resolution to amend the company's employee stock option incentive plan to allow the directors of the company to require that options granted under the plan vest over a period of time, subject to regulatory authority approval.
 Interim Financial Results
 Results for the three months ended Sept. 30, 1993, reflect the company's focus on the growing wireless telecommunications industry. Total operating revenues for the quarter were $263,654 (1992 - nil). Gross margin, as a percentage of sales, averaged 80 percent, resulting in a contributed margin of $210,308. Operating and administration expenses in this quarter were $706,218, representing an increase of $662,206, compared to $44,012 in the quarter ended Sept. 30, 1992, and resulting in an operating loss of $495,910 (1992 - $44,012).
 The Company
 Equity Investments Corp. is a public British Columbia-based company. The company's common shares and series 2 preference shares are listed on The Montreal Exchange.
 The company's principal business is the design, development, installation and service of proprietary application software and products that facilitate the transmission of wireless data for gas and electric utilities, cable television and field service, repair and maintenance industries.
 -0- 12/14/93
 /CONTACT: Peter L. Bradshaw, CEO, 604-682-1400/
 (EQM.)


CO: Equity Investments Corp.; TelSoft Mobile Data Inc. ST: British Columbia IN: TLS CPR SU: PER ERN

LS-JL -- LA014 -- 3424 12/14/93 06:00 EST
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Publication:PR Newswire
Date:Dec 14, 1993
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