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SUCCESSFUL TAKEOVER BID OF SOFTFUND BY EQUITY

 VANCOUVER, British Columbia, June 25 /PRNewswire/ -- Equity Investments Corp. (Montreal: EQM) (Equity) today announced that its takeover bid (the "offer") to purchase all of the issued and outstanding common shares of SoftFUND Capital Partners Inc. (Vancouver: SSF) ("SoftFUND") on the basis of one series 2 oreferred share of Equity for two common shares of SoftFUND was accepted by 95 percent of the SoftFUND shareholders, excluding shares held by Equity, its affiliates and associates. Equity now holds a 97 percent interest in SoftFUND.
 "On behalf of the board of directors of Equity, I want to welcome the SoftFUND shareholders to their new corporate residence. Their numbers have increased Equity's shareholder base, which is now represented by residents in every Canadian province, to more than 1,400 shareholders," said Peter Bradshaw, director and chief executive officer. "With the successful conclusion of this undertaking we have reached an important milestone in our business plan. We look forward to continuing our search for additional acquisitions, thereby strengthening our commitment to the wireless world of packet data software."
 Equity has obtained conditional approval to list its series 2 preferred shares on the Montreal Exchange. The series 2 preferred shares will trade as a separate class of shares until they automatically convert to common shares of Equity on Feb. 1, 1994. Equity will deliver the series 2 preferred shares to former SoftFUND shareholders forthwith upon receipt of a listing approval from the Montreal Exchange.
 Under Section 279 of the Company Act, Equity will exercise its right, by giving written notice to those shareholders of SoftFUND who have not accepted the offer, to acquire all of the remaining untendered shares of SoftFUND on the same basis as the offer.
 Through SoftFUND, Equity holds a 60 percent interest in MDSI Mobile Data Solutions Inc. ("MDSI"). The balance is owned by management of MDSI. MDSI, a private Vancouver-based company, purchased the U-CAD (Utility Computer-Aided Dispatch) field service management system software from Motorola Inc.'s Mobile Data Division in January 1993. U-CAD is a sophisticated software product used by utility and cable television companies in Canada and the United States for computer-aided dispatch of service personnel. MDSI is now responsible for the on-going sales and development of the U-CAD system worldwide and is currently servicing an estimated $22 million dollar sofware installed base residing in 18 North American utilities.
 The U-CAD system provides an effective and easy-to-use fleet and order management tool for operators of field service fleets such as gas and electric utilities and cable television companies. U-CAD allows an organization to provide better service and increase productivity by automating the manual process of assigning, dispatching and tracking orders for service work. Mobile terminals in service vehicles display orders for service and other information that service personnel need in the field. MDSI currently has more than U.S. $7 million in requests for written quotations.
 MDSI was founded by a group of experienced executives formerly with MDI, Mobile Data International, one of B.C.'s most successful technology companies, and later with Motorola. Headed by Erik Dysthe, president and chief executive officer, this group has been instrumental in the development, marketing and servicing of U-CAD systems since its inception. Dysthe was sales director for MDI in Europe and was responsible for MDI's rapid growth in the European market.
 Equity and SoftFUND are focused on funding developed software, particularly in the emerging communications field of wireless packet data, serving today's mobile world. Management at both companies is committed to "Building A Wireless Future."
 The coming revolution in the "wireless world" will touch everyone. Any interested party, investor or industry partner can call or fax the company -- anywhere, anytime -- for more information.
 -0- 6/25/93 R
 /Contact: Peter Bradshaw, director & CEO, or Rooky Driver, executive assistant, of SoftFUND, 604-682-1400/
 (EQM. SSF.)


CO: Equity Investments Corp.; SoftFUND Capital Partners Inc. ST: British Columbia IN: TLS SU: TNM

644 06-25-93 06:00 EDT LM-JL -- LA008 -- 5576 06/25/93 06:29 EDT
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Publication:PR Newswire
Date:Jun 25, 1993
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