InfoMove Secures $6.2 Million in Series B Funding; ComROAD is Largest Investor as InfoMove Launches Third-party Trials

    KIRKLAND, Wash.--May 23, 2001--InfoMove, the leading developer of personalized, location-based applications and wireless services, successfully closed its third round of funding by securing $6.2 million.
    ComROAD AG (Neuer Markt:RD4), a leading provider of telematics networks, is the largest investor in this round. The remaining investors are undisclosed private parties.
    InfoMove is currently conducting third-party trials of its technology with partners and is preparing to commercially launch its products later this year.
    "This investment enables InfoMove to further evolve and deploy our wireless applications and services worldwide," said Peter Holland, InfoMove president and CEO. "It's an exciting time for InfoMove as we bring our products to market."
    "ComROAD is proud to contribute to InfoMove's success," said ComROAD CEO Bodo A. Schnabel. "We want to secure a strong position in the worldwide telematics market, and InfoMove is a key part of that strategy."
    InfoMove named Schnabel to the company's board of directors in January 2001.
    InfoMove markets its technology to wireless carriers, automobile companies, and major hardware and software providers. Applications and services include audible turn-by-turn directions, traffic information, vehicle diagnostics, maintenance alerts, and text-to-speech enabled e-mail and Internet content such as news, stocks and weather.

About ComROAD AG

    ComROAD Aktiengesellschaft, established in 1995, is the worldwide leader for the development and commercialization of telematic networks. Through the integration of globally available technologies such as GPS (Global Positioning System), GSM (Global System Mobilcommunication) and web-based information systems, the company has created a worldwide network of telematics services, already being installed in 32 countries. This includes applications in the telematics sector, such as security monitoring, fleet management, off-board navigation and road assistance, as well as the provision of communication, information and entertainment services for mobile use. Via its headquarters in Unterschlei(beta)heim near Munich and further sites in Sarasota, USA, and Hong Kong, China, ComROAD ensures 24/7 operation of telematics control centers in three major world time zones. For the business year 2001, the company, which is listed at the German Stock Exchange (Neuer Markt:RD4), expects a turnover of Euro 95 million.

About InfoMove

    InfoMove is the leading developer of personalized, location-based applications and wireless services tailored for use in the automobile. The company integrates driver-specific content and applications and private-labels its services to strategic partners for wireless delivery to consumers through handheld PC's, cellular phones and in-dash car systems. By partnering with leading automotive manufacturers, handheld device manufacturers, Internet portals and wireless carriers, InfoMove is well positioned to deliver unparalleled services to the end user. Drivers and passengers can safely receive localized, personalized information including real-time traffic advisories, audible turn-by-turn directions, vehicle diagnostics, maintenance alerts, emergency services, location-based advertising, and text-to-speech enabled e-mail and Internet content such as news, stocks and weather.

    InfoMove was founded in 1998 and is headquartered in Seattle. It has strategic relationships with content providers, automotive manufacturers, technology developers and device manufacturers such as ComROAD, Microsoft, NTT-X, Casio, Yazaki, ALLDATA, Audible.com, PACCAR and Etak. For more information, visit the company's web site at www.infomove.com.