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Thursday December 20, 7:31 am Eastern Time
Press Release
SOURCE: Paradigm Advanced Technologies, Inc.
Paradigm Prominently Featured in CIBC World Markets' Research Report and NY Post Article
TORONTO, Ontario--(BUSINESS WIRE)--Dec. 20, 2001--Paradigm Advanced Technologies, Inc., (OTCBB:PRAV - news) confirmed today that it was prominently featured in the November Equity Research Report written by CIBC World Markets and in a New York Post article dated December 16, 2001, written by Emily Lambert entitled ``Pinpointing Good Navigation Plays.''
The CIBC World Report for the third quarter of 2001 was an update on a variety of companies involved in the Wireless Equipment sector including Paradigm. Although the authors of the report, Barry Richards and Spencer Churchill, indicate that the year to date (2001) has been one of the worst for the wireless industry as a whole, they feel that there are a number of sectors within that industry that are poised for near-term recovery. They identify the Location-Based sub-sector as a sector that is ``beginning to show signs of promise, as older asset tracking markets and the telematics industry are beginning to grow.'' In the report, CIBC World Markets indicated that Paradigm was one of the top performing companies. A copy of the report can be accessed from Paradigm's website at powerloc.com.
In even more recent news, the New York Post released a business report confirming that global positioning systems, which can pinpoint any place on earth using satellite signals, appear to be well-positioned in the market these days. A number of analysts concluded that the location based sector and companies, like Paradigm, are an ``undiscovered area of the market''. Paradigm was named as one of the companies to watch within the sector and its recent contract with New York City featured. A copy of the article can also be found on the Paradigm website.
About Paradigm Advanced Technologies, Inc.
Paradigm Advanced Technologies, Inc. (OTCBB:PRAV - news; powerloc.com) provides a full range of wireless location tracking technology solutions to service providers and end users in the telematics, GPS, M-Business, L-solutions and CRM/ERP markets. Paradigm's servers, software and devices locate, track, navigate, communicate with and manage vehicles and other assets. Paradigm's ``Destinator(TM)'' (http://www.destinator1.com) is the only portable navigation product of its kind that provides a breakthrough experience in vehicular navigation and communication. Paradigm owns the exclusive licensing rights to a broad based wireless location patent (U.S. Patent no. B1 5,043,736) covering the apparatus and method of transmitting position information from satellite navigational signals (such as GPS) over cellular systems to a base unit and displaying the location of that equipped object. Paradigm's rights cover all fields of use for the patented system (except for certain criminal justice applications). For further information on Paradigm and PowerLOC, visit powerloc.com or call (905) 764-3701 Ext. 249.
Paradigm is also listed on the Frankfurt Stock Exchange - symbol - PG8.
This press release contains forward-looking statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Paradigm Advanced Technologies, Inc., and its business. The predictions embodied in these statements will involve risks and uncertainties and accordingly, Paradigm's actual results may differ significantly from the results discussed or implied in such forward-looking statements.
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Contact:
Paradigm Advanced Technologies, Inc.
R. Charles (Chuck) Allen, 905/764-3701, Ext. 249
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