SageQuest Announces $2.5 Million Investment From Hopewell Ventures; Additional $1.5 Million From Ohio-Based Angels

CLEVELAND, Jan. 6, 2006 -- SageQuest, a Beachwood-based vehicle tracking and information management company, announced that it has received $2.5 million from Hopewell Ventures, a $110 million venture capital and private equity fund, based in Chicago, Illinois. In addition, SageQuest received $1.5 million in additional funding from Ohio-based Angel investors.

SageQuest delivers an end-to-end, real time vehicle tracking solution to companies nationwide. Its product allows for route optimization, decreased overtime and fuel expenses, improved driver safety and security, enhanced customer satisfaction, and reduced liability in areas such as vehicle theft and speed tracking.

SageQuest President & CEO Dennis Abrahams said, "We are thrilled that Hopewell Ventures has teamed with us in this exciting endeavor. We are confident that SageQuest is in a position to deliver unique value and unparalleled service to companies around the country."

Tom Parkinson, a Partner in Hopewell Ventures said, "We've been following SageQuest's progress for over a year and have been impressed by the way SageQuest has been able to demonstrate strong market traction. We are excited to be involved with this growing business."

Added SageQuest Chief Financial Officer David Lowman, "We are excited to add strong financial partners to our team. This funding will allow us to expand quickly in a rapidly evolving segment of the automatic vehicle location market."

          www.sage-quest.com           www.hopewellventures.com

  Contact:  Leslie Samenuk
            888-837-7243, x243