E-City Software Launches 3D CarMap In Vehicle Navigation Product
SEATTLE--April 5, 2002--E-City Software, Inc. (E-City) (OTCBB:ECTY) announced today that it has launched its much anticipated 3D CarMap product.CEO Anis Jessa explained, "We believe that the in vehicle navigation market is one of the keys to our success. We have received significant indications of customer interest in this area and have a product that we think is highly competitive in this marketplace. We are presently in negotiations with an industry's technology leader. E-City's target customers in this market include Daimler Chrysler, GM OnStar, LoJack, Delphi, Sprint PCS, Nextel, AT&T Wireless, Verizon, Wingcast, Palm, Yahoo!, Rand McNally, Motorola, Microsoft, Qualcomm, Research in Motion and many others."
Jessa continued, "Our product is unique. There is no other practical and cost-effective solution that we know of that gives automobile drivers the ability to view every building, every house, every golf course, complete with railroad tracks and trees, for 3D covered major metropolitan areas. We think that the buying public will agree. With improvements now being developed for deployment in the in vehicle navigation market, both by automotive OEM's and GPS mobility firms, practical and efficient integration of our product in the in vehicle environment is within reach."
The automobile industry is going through a technological evolution driven by advances in the Intelligent Transportation System (ITS) marketplace. In-vehicle navigation has evolved into an effective means to reduce traffic congestion, reduce pollution, and improve safety, comfort, and peace of mind. A recent report from Strategy Analytics predicts that 20% of all large/high-end cars will be factory-equipped with these dynamic navigation systems by 2006. With 600 million vehicles in the world and 60 million produced every year, the total telematics market is projected by industry analysts to be in the $10-$40 billion range by 2005.
E-City Software, Inc. (OTCBB:ECTY) is a developer of interactive maps for cities around the world. E-City sells its products to customers on the basis of both annual licensing fees and revenue share arrangements. E-City distributes its products directly to its customers, through arrangements with strategic partners and through its network of distributors and value added resellers. For more information about E-City Software or its products, please visit our website at www.ecitysoftware.com.
NOTE: Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks or uncertainties and assumptions. The risks and uncertainties include, but are not limited to the impact of competitive products and pricing, product demand and market acceptance, reliance on key strategic alliances, fluctuations in operating results, the potential unavailability of financing sources and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. E-City Software assumes no obligation to update these forward-looking statements to reflect actual results, changes in assumptions or changes in factors affecting such forward-looking statements. Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.