Webraska Announces Record Year in 2001, With More Than EUR 17 Million Worth of New Location-based Services Contracts

    SARATOGA, Calif. & MAISONS-LAFFITTE, France-- Feb. 4, 2002--Webraska, the worldwide provider of LBS (Location-Based Services) & Telematics applications and enabling platforms, today announced a record year in 2001, and the successful completion of its merger with AirFlash.
    Webraska received more than EUR17 million in new multi-year customer orders for the calendar year ending December 31, 2001, with over EUR10 million alone awarded in the fourth calendar quarter of 2001. Revenues are expected to be between EUR5 and EUR6 million in fiscal year 2002 (ending March 31, 2002), compared to EUR3.1 million revenue in fiscal year 2001 (ending March 31, 2001).
    Webraska also announced the successful completion of its merger with Silicon Valley-based AirFlash Inc, a significant step in establishing the worldwide leader in LBS applications and enabling platforms.
    During 2001, Webraska continued to expand its worldwide customer base and industry partnerships. The Company announced that it had received contracts in key markets for the deployment of LBS applications with major wireless phone companies, including Blu, E-Plus, Orange UK and Switzerland, Telecom Italia Mobile (TIM), Viag Interkom, Vodafone Global Group, as well as several other operators and portals currently under non-disclosure. During the fourth quarter of 2001, Webraska had approximately 24 companies engaged in product trials, 6 customers in the process of deployment (including 5 wireless operators) and 14 customers in service (including 10 wireless operators).
    "We have established clear leadership in location-based services during 2001," said Jean-Michel Durocher, Webraska's Chief Executive Officer. "Our merger with AirFlash provided the complete solution wireless operators were looking for to start generating revenues from their location gateway investments." On December 31st, 2001, Webraska had cash and other receivables of EUR23 million. With cash needs planned to be below EUR0.9 million per month, Webraska doesn't anticipate requiring additional funding before achieving profitability, which is expected in early 2003.

    About Webraska

    Webraska, recently merged with AirFlash Inc., provides the advanced software solutions required to develop, integrate and deploy location-based and telematics services. Webraska's carrier-grade offering includes the SmartZone(tm) GeoSpatial Platform, the SmartZone(tm) LBS Application Platform, the patented and award-winning car navigation solution, IbDN(R) Lite, and over 30 other ready-to-deploy market-proven applications such as BuddyFinder and m-Vite.

    For more information, please visit: www.webraska.com