AirIQ's Recent Acquisition, Aircept, Selected As A Rising Star In The Deloitte Technology Fast 50

TORONTO--Aug. 1, 20042, 2004--AirIQ (TSX:IQ) and Aircept both eligible for the North American Deloitte Technology Fast 500.

Aircept.com, LLC, a leading Telematics Service Provider, has been selected as a Rising Star in Deloitte's prestigious Technology Fast 50 Program for Orange County, California, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche LLP, one of the nation's leading professional services firms. For Rising Star companies the rankings are based on the percentage of growth in fiscal year revenues over three years, from 2001 to 2003.

In June 2004, AirIQ acquired the business of Aircept.com, LLC, based in Irvine, California.

"Aircept's selection to the Technology Fast 50 Rising Star list for Orange County is a tribute to the focused and well executed strategy of the California team," says Donald Simmonds, President and CEO of AirIQ. "This recognition is a tremendous accomplishment for Aircept and demonstrates the combined growth potential of AirIQ and Aircept."

Recently, AirIQ placed in the 2004 Deloitte Canadian Technology Fast 50 program for the second consecutive year, which honours the 50 fastest growing technology companies in Canada and is determined by percentage revenue growth over a five-year period, from 1999 to 2003.

"Aircept is honoured to be recognized as a Rising Star in the Orange County Technology Fast 50 program," explains Ken Wiesner, President, Aircept Division of AirIQ USA. "The rapid growth we have experienced over the last several years is a result of developing a cost effective and simple Telematics application that is widely adopted over multiple markets and can be readily adapted to distribution channels."

The Rising Star award is a special category of awards within the Fast 50 program recognizing technology companies who have been in business for three or four years, have demonstrated extraordinary growth and do not yet meet the five-year minimum to qualify for a Technology Fast 50 award.

To qualify for the Rising Star award in the Technology Fast 50 program, companies must have had operating revenues of at least $50,000 USD for 2001 and at least $1,000,000 (A2)USD for 2003, must be public or private headquartered in North America, be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues and/or devoting a significant proportion of revenues to research and development of technology.

The numerical rankings are scheduled to be announced on October 4, 2004, for the 2004 Orange County Technology Fast 50 program. AirIQ will automatically be entered in the Deloitte Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. Aircept will be eligible for a position on the 2004 Deloitte Technology Fast 500 Rising Star list, which is a ranking of the top 25 Rising Stars in North America. (A3)For more information on the Deloitte Fast 50 or Fast 500 programs, visit www.fast500.com.

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 primarily to three large commercial markets (rental vehicle, commercial transport and heavy equipment fleets) and to the consumer market. AirIQ gives vehicle owners the abilities to manage and protect their mobile 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 additional information on AirIQ, its products and services, and the recent successful acquisition of Aircept.com, LLC, please visit the Company's website at www.airiq.com or call 1(888)606-6444.

About Deloitte

Deloitte, one of the nation's leading professional services firms, provides audit, tax, financial advisory services and consulting through nearly 30,000 people in more than 80 U.S. cities. Known as an employer of choice for innovative human resources programs, the firm is dedicated to helping its clients and its people excel. "Deloitte" refers to the associated partnerships of Deloitte & Touche USA LLP (Deloitte & Touche LLP and Deloitte Consulting LLP) and subsidiaries. Deloitte is the US member firm of Deloitte Touche Tohmatsu. For more information, please visit Deloitte's web site at www.deloitte.com/us.

Deloitte Touche Tohmatsu is an organization of member firms devoted to excellence in providing professional services and advice. We are focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, our member firms, including their affiliates, deliver services in four professional areas: audit, tax, financial advisory services and consulting. Our member firms serve more than one-half of the world's largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies.

Deloitte Touche Tohmatsu is a Swiss Verein (association), and, as such, neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. The services described herein are provided by the member firms and not by the Deloitte Touche Tohmatsu Verein. For regulatory and other reasons certain member firms do not provide services in all four professional areas listed above.

Forward-looking Statements

This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, 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. AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.