Shell's Equity Infusion Secures Airbiquity Fund Raising

    LONDON & BAINBRIDGE ISLAND, Wash.--November 27, 2001--Airbiquity, a location technology company that delivers global positioning system (GPS) data to any wireless network worldwide, today announced a major funding commitment from Shell Internet Ventures BV (Shell), bringing the company's total round "D" financing to $16 million.
    Shell is the largest investor in this financing round. The cash infusion will allow Airbiquity to accelerate the development of new technology and products to serve the burgeoning telematics and wireless location technology sectors.
    Dan Allen, president and CEO of Airbiquity, said: "We are proud to welcome Shell as a new, active investor and encourage their enthusiastic support of our vision. Shell's backing will continue to propel Airbiquity's role as a market `maker' in digital telematics services, portable location-based technology, and multi-carrier wireless communications."
    Petra Koselka, vice president of Shell Internet Ventures, added: "We are impressed by the strength of Airbiquity's technology and long-term growth potential. Because Airbiquity's patented aqLink(TM) technology moves critical data across all global wireless networks, location based services and products can be developed and brought to customers and consumers alike, quickly and with more flexibility. We see important touch points between Airbiquity and the Shell Group. Firstly, the Shell Group has an interest in technologies that allow better asset tracking and fleet management, and secondly we have a continued focus on developing profitable product and service offerings for `consumers-on-the-move.' "
    Steve Hooper, Airbiquity board member, co-founder of Ignition Partners and former AT&T Wireless CEO, added: "Airbiquity's success at attracting new customers and new investors in this tough economic climate is a testament to the company's high quality offerings and its valuable position in the still-forming wireless location space. Acorn Ventures, Kirnaf Ltd, and other existing Airbiquity investors, share Shell's belief that Airbiquity's innovative technology will significantly impact the wireless location technology market worldwide."
    In addition to Acorn Ventures and Kirnaf, Airbiquity continued to receive considerable financial and strategic support in this round from its existing investors.
    Other major private and institutional investors in the "D" round include Naveen Jain (founder, president and CEO, InfoSpace), Wayne Perry (former McCaw Cellular executive, board member of AT&T Wireless), Bill Weyerhauser, TAPCO Ventures, and Broe Growth Capital.

    About Airbiquity

    Airbiquity (www.airbiquity.com) is the location technology company that delivers global positioning system (GPS) data to any wireless network worldwide. The company's patented aqLink(TM) software enables wireless carriers, automobile manufacturers, commercial call centers and Internet portals to offer their subscribers location-based services that enhance productivity, manage assets, and deliver personalized content. Airbiquity's list of top-tier customers includes AAA, RESPONSE Services Center (a wholly owned subsidiary of AAA), Wingcast (a joint venture of Ford Motor Company and Qualcomm Incorporated), Agere Systems (formerly Lucent Microelectronics), Security Associates International, and Entrust Connections.

    About Shell Internet Ventures and the Royal Dutch/Shell Group

    Shell Internet Ventures B.V. is a corporate venture capital fund established by the Royal Dutch/Shell Group of companies in November 2000 to make minority equity investments in early stage companies in technology areas relevant to Shell's current and future operations.
    The fund invests in high growth, early and expansion-stage companies in the software, Internet and business communications services sectors. For more information, visit the fund's website at www.shell.com/internetventures-en.
    The Royal Dutch/Shell Group of companies, "the Group", is a diverse group of energy companies with operations in more than 130 countries. The Group's businesses include oil and gas exploration and production; power generation; manufacturing, marketing and shipping of oil products and chemicals and renewable energy products, including wind and solar power.
    The Group's parent companies are Royal Dutch Petroleum Company, which has a 60% interest in the Group, and The "Shell" Transport and Trading Company plc, which has a 40% interest in the Group. Shares in the parent companies are traded on stock exchanges in Europe and in the USA.

    The press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Because these statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
    Factors that could affect actual results include: the company's limited operating history, the need for additional financing, variable economic conditions and customer tastes, regulatory risks, and restrictions imposed by existing debts and future payment obligations.

    Airbiquity and aqLink are trademarks of Airbiquity Inc.