Under the transaction, each Grey Island common share will be exchanged for 0.30 of a WebTech Wireless common share. The exchange ratio of 0.30 is based on an imputed price for WebTech Wireless shares of $1.40, approximating the twenty day volume-weighted average trading price ("VWAP") of WebTech Wireless' common shares, and an imputed price for Grey Island of $0.42 per common share, representing a premium of 50.0% to Grey Island's closing price on August 6, 2009 and a premium of 56.7% to Grey Island's twenty day VWAP. The Transaction values Grey Island at approximately $38 million.

The transaction will be completed through the issuance of approximately 26.9 million WebTech Wireless common shares.

Highlights

Creates a leading global telematics and location-based services provider with strength in the key verticals of insurance, government, service fleet, and transport.

Increases scale and market presence in a multi-billion dollar industry still in an emerging growth phase.

Diversifies global customer base - over 65,000 subscribers and a strong presence in Canada, US, Mexico, Europe, and the Middle East.

Creates a significant base of recurring revenues - approximately $2 million per month in run rate.

Accretive to shareholders this fiscal year.

Positioned well to further consolidate the telematics industry.

Anwar Sukkarie, President & Chief Executive Officer of WebTech Wireless, said, "The combination of WebTech Wireless and Grey Island will create a company that is more than the sum of its parts. The combined entity has what is required to be a world-class global telematics company with exciting growth possible by taking Grey Island's products to the international market, adding their government-focused solutions to our AT&T, Rogers, and other North American and international channels, and by giving us a physical presence in eastern North America. This Transaction is part of WebTech Wireless' vision and stated strategy to be an active consolidator in this industry. In addition to expanding our list of powerful distribution channel partners in North America, this acquisition is expected to add tremendous depth to our management team and board, and to our government vertical solutions, while broadening our product offerings, and diversifying WebTech Wireless' customer base."

Owen Moore, President of Grey Island, said "Grey Island has always focused on growing its business and achieving exceptional customer service standards, particularly in the government vertical, where Grey Island has earned the majority of its revenue". He added, "Grey Island has enjoyed a relationship with WebTech Wireless for several years, both as competitor and as a former supplier to our NextBus business. We believe this Transaction provides substantial value to our shareholders. By merging our companies, we will benefit from the additional size and scope and expanded product line that this brings to our customers. Grey Island will also benefit from WebTech Wireless' well-developed distribution channels and strong and growing international presence. We look forward to working closely with WebTech Wireless' management to accelerate the growth of our combined businesses."

www.webtechwireless.com.

www.greyisland.com