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Gold/Mining/Energy : IVS could be the next "microsoft" in the automotive ind. -- Ignore unavailable to you. Want to Upgrade?

To: Tupulak who wrote (169)	9/30/1999 12:25:00 AM
From: MARK LIZZI	Read Replies (1) \| Respond to of 183

To All IVS Shareholders Your Board of Directors has been working diligently to satisfy the VSE surveillance committee's demands necessary for the release of their stock halt order. We have submitted several responses and have as a result narrowed the issues down to just a few. We are optimistic that a final submission, which is due shortly, will produce the desired result. I know that you are all as anxious as I am to get this behind us. Thank you for your patience. I can reveal some of the action that we have taken as a result of negotiations with the VSE. 1. We have established complete administration independence between McCarney Technologies ("MTI") and IVS. As of the 15th of September, MTI will have moved to their new location at 2130-21331 Gordon Way, Richmond, B.C., V6W 1J9. As of that time we will have no cross administrative responsibilities between the two companies. This was a requirement of the VSE. 2. As a result of their demand, it was necessary for Jim McCarney to resign as an Officer and Director of IVS. We regret that this was necessary, and will miss as our leader. Rest assured, however, we will continue to work closely with Jim as we move forward toward the future success of both companies. 3. They have asked us to speak to the proposed merger of IVS and MTI. In light of everything that has happened, I see no way for us to proceed in that direction at this time. There are simply too many roadblocks. We will keep it "on the back burner" and deal with it at a more appropriate time. There are other issues that are still under negotiation. We will disclose them to you as soon as they become final. IVS will remain at their present location at 102-8838 Heather Street, Vancouver, B.C., V6P 3S8. The telephone number is (604) 322 8985 and fax number is (604)322 9526, have not changed. >From the business point of view, the future remains bright. We have secured a signed contract with a Southern California company to supply them with a new and unique product for their distribution. Under a special arrangement with MTI, we are working on the necessary product modifications now. As soon as this is completed, we will be able to release the details There are other business deals in the works, but I can't reveal any details as yet. Our first priority is to deal successfully with the VSE. As your newly appointed CEO, I am spending most of my time working toward this end. Hopefully we will have good news from the VSE shortly. Truel Brown Director and CEO