Megawheels Inc. - Irish Auto Sales To Be Driven by Unique New Resource; Megawheels and The Irish Times join forces

    CALGARY, Alberta--Dec. 11, 2001--Irish motorists looking for the ultimate guide to their automotive market will soon be accessing an integrated online and print resource of local and global vehicle inventories. In an agreement announced today, The Irish Times will harness the powerful, reverse publishing solutions of Megawheels Inc. (CDNX:MGW), a global provider of technology solutions that link the media and automotive sectors, to deliver its new integrated automotive website and weekly print supplement. Visitors to ireland.com will be able to search extensive dealer inventories and private listings using Megawheels' highly interactive search engine. Readers of The Irish Times will browse a weekly fact-filled, editorial and classified automotive section compiled from the online database and other resources.
    "We are delighted to be the driving force behind The Irish Times and ireland.com's expansion into the automotive sector," said Marty Hilsenteger, Chief Executive Officer and Chairman of the Board, Megawheels Inc. "We know from our success with the Globe and Mail, Canada's National Newspaper, and the Evening Standard in London, England, that our integrated online to print solutions propel rapid revenue growth in the sector while reducing production and management costs. Partnering with Ireland's fastest growing newspaper and leading website adds substantial cachet to our position as leaders in the reverse publishing sector. Such a partnership will result in increased revenue for Megawheels and the Times while continuing to build value for our shareholders."
    Integral to the joint venture's success is Megawheels' inVision product, a suite of dealer inventory and media management software tools. Delivered via ASP (application service provider), inVision provides automotive dealers an intuitive, user-friendly online interface to enter inventory, including photographs, manage classified advertising placements, create sales materials such as brochures and window stickers and access extensive, real-time reports on inventory movement, site statistics and advertising results. Under the terms of the agreement, the advertising sales staff of The Irish Times will continue to work with their existing automotive dealer base to install inVision as their media and inventory management tool. In keeping with its established successful formula, the online database and print publication will be private-labelled to capitalize on the significant brand equity of The Irish Times and ireland.com.
    Commenting on the agreement, Liam Holland, Advertisement Sales Manager for The Irish Times said, "We chose Megawheels because of their significant experience and success in managing automotive joint ventures with other multi-media publishers. The Irish Times has successfully transitioned into Ireland's leading multi-media publisher because we are committed to the development of electronic publishing services that expand our revenue generation capabilities. Adding an integrated automotive resource further solidifies our position as the definitive source for information and news pertaining to all things Irish."
    Projected launch date for the website is January 2002 with the print publication targeted for production shortly after.

    About Megawheels

    Founded in 1995, and headquartered in Calgary, Alberta, Canada, Megawheels Inc. (CDNX: MGW) is globally recognized as a leader in integrated automotive retail management systems development. Drive, the Company's complete dealer management software solution provides operational and process efficiencies to automotive dealerships along with a powerful web interface and online media management capability. Through Drive and its integrated web/media management tools, the company has built an extensive dealer network in Canada, the US, and Great Britain. The Company also has joint ventures and technology licensing agreements with leading newspaper groups in Canada, the U.S. and Great Britain through Net2Print, its reverse web-to-print publishing software. Net2Print provides newspaper publishers a cost-effective, custom-branded online community and an enhanced technology platform from which to drive revenues in the automotive sector.

    About The Irish Times

    Since 1859 The Irish Times has been at the centre of Irish public life. Today it is recognised as one of the leading newspapers in the English-speaking world. Its coverage of politics, economics, the arts, sociology, business, sport - indeed, its whole range of interests - is without rival in Ireland in its scope and depth. Its network of international bureaux and correspondents provides an authoritative picture of European and world affairs. The Irish Times is committed to the highest standards of accuracy and authority in its content. It is controlled, ultimately, by an independent trust which ensures its freedom from political, commercial or sectional pressures.
    Editor Conor Brady comments: 'That a newspaper with this commitment to quality has steadily increased its circulation over 20 years is testimony to its special place in Irish society. We believe that we have that place because of our commitment to the very best standards of reportage, of editing and of presentation. In short, at The Irish Times we believe that we work for the reader'.

    About ireland.com

Originally launched as The Irish Times in 1994, ireland.com was the first newspaper owner in Ireland and the UK to go online. It is the definitive brand of quality information and services for Ireland aimed at Irish Internet users and the rapidly expanding 'Irish interest' market. It is the most visited web site in the country with over 30 million page impressions per month. ireland.com incorporates the online edition of The Irish Times, as well as a comprehensive jobs site, a recently launched property site and various sites covering breaking news, technology, business, sports, tourist information, the weather and other areas of interest.
    The site also provides a range of services including Web-based email with addresses @ ireland.com, an Irish Ancestors site. ireland.com's content and services are delivered on a variety of distribution platforms including Web, Wap, and SMS.