AirIQ Ranked as One of the 100 Fastest Growing Companies in Canada by PROFIT 100

TORONTO--June 9, 2004--AirIQ Inc. (TSX:IQ), a leader in the Telematics industry, was ranked 41st on the 16th annual PROFIT 100 ranking of Canada's Fastest-Growing Companies by PROFIT: Your Guide to Business Success. The PROFIT 100 for 2004 profiles the country's most successful growth companies by comparing 1998 to 2003 revenues. Published in the June issue of PROFIT and online at PROFITguide.com, the PROFIT 100 is Canada's largest annual celebration of entrepreneurial achievement.

"This is the first year we have placed on PROFIT 100's prestigious list. Our ranking places us amongst the 100 most successful growth companies in Canada across all sectors of business," says Donald Simmonds, President and CEO of AirIQ. "Over the past five years, AirIQ has grown 1,670 percent, due to the success of our Commercial Fleet business. We plan to maintain this momentum as we enter the Consumer Telematics realm. We are proud to be a part of the PROFIT 100."

"We're happy to welcome the 2004 PROFIT 100 winners to the most exclusive peer group of its kind in Canada," says Ian Portsmouth, editor. "Canada's fastest growing companies are generating the innovation needed to succeed on a global scale."

To qualify for the PROFIT 100 ranking of Canada's Fastest-Growing Companies in 2004, businesses must report their gross revenues for 1998 and 2003. The PROFIT 100 is open to Canadian owned private and publicly traded companies headquartered in Canada and with significant operations in Canada. Qualifying companies must report a minimum of $100,000 gross revenues in the base year.

About AirIQ:

AirIQ trades on The Toronto Stock Exchange under the symbol IQ. A leader in the Telematics marketplace, AirIQ is headquartered in Pickering, near Toronto, Canada. The Company operates as a wireless Internet applications service provider specializing in Telematics. Telematics is the name given to information and control messages sent wirelessly to and from vehicles. AirIQ's services are offered to three large commercial markets (rental vehicle, commercial transport and heavy equipment fleets) and the Consumer market. AirIQ gives vehicle owners the abilities to manage and protect their mobiles assets. AirIQ's services include: vehicle locating, boundary notification, automated inventory, maintenance reminders, security alerts, vehicle disabling, unauthorized movement alerts and many more features. For more information, please call 1(888)606-6444 or visit www.airiq.com.

About PROFIT Magazine:

PROFIT: Your Guide to Business Success, offers news, strategies, tips, interviews and other resources to entrepreneurs leading Canada's fastest growing companies. Each year PROFIT, which currently reaches more than 467,000 readers nationally, hosts a number of events that bring together business leaders in the fast growth segment and champions the interests of those leaders. PROFIT was founded in April 1982 as Canada's first national magazine geared to entrepreneurs. Visit PROFITguide.com.

Forward-looking Statements

This news release contains certain forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in our forward-looking statements. Factors that could cause actual results to differ materially include, without limitation, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes and results may differ materially from those expressed in such forward-looking statements. Furthermore, a forward-looking statement speaks only as of the date on which such statement is made. The Company assumes no obligation to update or revise them to reflect new events or circumstances.