Paradigm's Destinator -TM- Offered as a High-End Navigation Accessory by Automotive Dealers
TORONTO--Feb. 19, 2002--Eduardo Guendelman, President and C.E.O. of Paradigm Advanced Technologies, Inc. (OTCBB:PRAV), today announced that PowerLOC Technologies Inc., a wholly owned subsidiary of Paradigm, has expanded its Destinator(TM) sales channels to include automotive dealers.GPS & MORE LTD. (www.gpsmore.com), the Israeli Destinator(TM) distributor, has recently signed an agreement with Meir Ltd., the exclusive importer and dealer of Volvo Jaguar and Honda in Israel. Under the terms of the agreement, the Destinator(TM) navigation system will be installed by the dealer in high-end Volvo cars in Israel and will also be offered as a standard accessory in a subsidized price for all of the other Volvo models. The Destinator(TM) navigation system will be professionally installed in the vehicle by the Volvo dealer and hosted in a specially designed cradle.
"The uniqueness of the Destinator(TM) technology is its ability to stretch the relatively limited capabilities of PDAs and smart phones to offer a cheap and mobile navigation solution with the same degree of excellence as the luxurious high-end navigation system," said Ron Yekutiel, General Manager of the Destinator Division in Paradigm. "Recent deals with automotive dealers reconfirm that Destinator(TM) went a step further from being successful in the PDA arena to standing up to the highest industry standards set by the luxurious in-vehicle navigation systems."
"We are delighted with the extensive marketing efforts done by our distributors and partners," said Eduardo Guendelman. "The deal that GPS & More struck serves us as a template for creating other relationships with other automotive partners worldwide."
Raz Heyman, General Manager of GPS & More, stated, "Since the recent launch of Destinator(TM) in our market we have been subject to endless telephone calls from potential dealers and eager customers. Destinator(TM) was featured in all the major newspapers and television channels. The response was simply overwhelming."
Mr. Heyman also added, "In addition to selling Destinator(TM) to corporate accounts and via retail chains we are now negotiating deals with several car dealerships, all of which were impressed by the performance of Destinator(TM) and show great interest in offering it as a standard accessory with their cars."
ABOUT PARADIGM ADVANCED TECHNOLOGIES, INC.
Paradigm Advanced Technologies, Inc. (OTCBB:PRAV) (www.powerloc.com) provides a full range of wireless location tracking technology solutions to service providers and end users in the telematics, GPS, M-Business, L-solutions and CRM/ERP markets. Paradigm's servers, software and devices locate, track, navigate, communicate with and manage people, vehicles and other assets. Paradigm's technology was chosen to help track recovery vehicles at the World Trade Center disaster recovery site. Chosen "Best Breed" by Pocket PC Magazine readers, "Destinator(TM)" (www.destinator1.com) technology provides a breakthrough experience in vehicular navigation and communication. Paradigm owns the exclusive licensing rights to a broad based wireless location patent (U.S. Patent no. B1 5,043,736) covering the apparatus and method of transmitting position information from satellite navigational signals (such as GPS) over cellular systems. For further information on Paradigm and its PowerLOC division, visit www.powerloc.com or call (905) 764-3701 Ext. 249.
Paradigm is also listed on the Frankfurt Stock Exchange: symbol - PG8.
This press release contains forward-looking statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Paradigm Advanced Technologies, Inc., and its business. The predictions embodied in these statements will involve risks and uncertainties and accordingly, Paradigm's actual results may differ significantly from the results discussed or implied in such forward-looking statements.