AdvantEDGE Announces Proposed Joint Venture With GE Capital Fleet Services

19 April 1999

AdvantEDGE Announces Proposed Joint Venture With GE Capital Fleet Services

    CONCORD, Ontario--April 19, 1999--AdvantEDGE International Inc. (ASE:AII)(AdvantEDGE) Monday announced that it has signed a Memorandum of Understanding with U.S.-based GE Capital Fleet Services to form a joint venture to distribute AdvantEDGE's FuelMaster System in Mexico.
    Funding of the new joint venture is subject to final approval by GE Capital Fleet Services.
    Under the proposed structure, GE Capital Fleet Services will become an equal equity partner to AdvantEDGE in the joint venture. GE Capital Fleet Services is one of the largest fleet management companies in the world with more than 1 million vehicles under lease and service management. It has operations in North America, Europe, Australia, New Zealand, Japan and Brazil.
    As part of the proposed joint venture, AdvantEDGE would grant to GE Capital Fleet Services an option to acquire up to 19% of AdvantEDGE's Subordinate Voting Shares. The Warrant prices are CDN$1.75 if exercised by Aug. 31, 1999; CDN$2.10 if exercised by Feb. 29, 2000, or; CDN$2.50 if exercised by Aug. 31, 2000.
    According to David Shneer, chief executive officer of AdvantEDGE, "We are tremendously excited about now moving from the planning to the implementation phase of our business plan."
    AdvantEDGE markets and distributes the FuelMaster System, a fully automated vehicle refueling control and monitoring system. FuelMaster is a high-technology Radio Frequency Identification (RFID) wireless communications system utilizing advanced radio frequency and smart-card microprocessor technology to control the refueling process.
    FuelMaster applications include those for commercial fleet operators and the consumer market where "automated refueling systems" provide value added benefits such as convenience, elimination of unauthorized or fraudulent charges, transaction security, and daily reports. FuelMaster's automated process eliminates drivers' need to carry cash, credit cards, or vouchers. FuelMaster systems are utilized by major oil companies and financial institutions as a form of "electronic commerce."
    The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein.

    For more information on AdvantEDGE, contact:

    David Shneer, President and CEO
    AdvantEDGE International Inc.
    Tel: 905/761-5969, ext. 41
    Fax: 905/761-5970
    E-mail: dshneer.advantedge@ibm.net
    Web site: www.advantedge.ca