Press Release

Raywood Communications Pty Ltd Names Steve Watt CEO

Melbourne, Australia, September 17, 2002 -
Raywood Communications Pty. Ltd, one of the world's leading providers of advanced Global Positioning, Computer Dispatch and In-Vehicle Security Systems for the Taxi, Courier and Limousine industries, announced the appointment of Steve Watt as Group CEO of the company.

Raywood has been expanding its geographic presence, customer base and its product line during the past twelve months. Steve Watt has an excellent track record of building and growing globally focused technology companies. The company has offices worldwide including Australia, Dubai, the UK and the United States.

"We are pleased to have attracted such a proven leader, especially one that has demonstrated tremendous success in the international growth of technology-based companies" said Board Member and Investor, Greg Ruddock of Gresham Private Equity. "Based on the industry acceptance of our product line, support and future direction, we believe Steve is the right person to manage this exciting chapter in Raywood's growth."

According to Steve Watt, "Raywood has over 20 years of success in serving the transportation and courier industries. Over the past twelve months, the company has added new customers around the world and I am pleased to be guiding the next stage of our growth and continued global expansion."

Steve Watt's background includes being the CEO of several high technology companies including the then Sydney-based, Axiom Information Systems and Seattle-based Invisic Software. Steve was also a senior executive for Silicon Valley technology provider Portera Systems.

About The Investors:

Raywood is backed by two major Private Equity Funds, Gresham Private Equity and Bridgepoint Capital. Gresham Private Equity Limited is one of Australia's largest Private Equity Funds with more than $200m under management. Gresham has offices in Sydney, Melbourne and Perth and has extensive involvement in the financial community across Australia, with active links into the Asian, European, South African and North American markets. Bridgepoint Capital is one of Europe's largest Private Equity Fund Managers with more than 2.0b Euro under management.

About Raywood Communications:

Raywood Communications is a global provider of wireless mobile data communications based Automatic Dispatch, Vehicle Location systems and In-Vehicle Security Systems for the Taxi, Courier and Limousine industries. Based in Australia, Raywood has offices around the world. The web address for the company is www.raywoodcommunications.com

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