Grey Island Named One of Canada's Fastest Growing Technology Companies in 2007 Deloitte Technology Fast 50 Program



    Canada's most prestigious technology award celebrates a decade of
    Canadian technology innovation, growth and entrepreneurial spirit

    TORONTO, Sept. 21 /CNW Telbec/ - Grey Island Systems International, Inc.
(TSX-V: GIS) has been ranked among the Deloitte Technology Fast 50, a ranking
of the 50 fastest-growing technology companies in Canada, based on the
percentage of revenue growth over five years. Grey Island's increase in
revenues of 715 percent from 2002 to 2006 resulted in a 28th ranking.
    Over the last decade, the Deloitte Technology Fast 50 program has tracked
the successful growth of Canadian-grown global leaders such as Research in
Motion (RIM), which has ranked among the Deloitte Technology Fast 50 every
year since the program's inception in 1997. Now Canada's pre-eminent
technology award program, the Deloitte Technology Fast 50 augments the broader
Deloitte North American Technology Fast 500 initiative, with winners
automatically eligible for this elite ranking.
    "Transforming technological innovation into business success is hard, and
it's especially difficult to sustain such rapid revenue growth over five
years. Grey Island has rapidly built a highly successful company in the
Canadian technology industry and we applaud their dedication and ability to
transform their vision into reality," said John Ruffolo, National Leader,
Technology, Media & Telecommunications Industry Group, Deloitte.
    Grey Island's CEO Andrew Moore credits the company's 715 percent revenue
growth to their highly flexible end-to-end (hardware and software) web-based
solution, to allow the company to mass customize for the individual needs of
government fleets in the U.S. and Canada. Moore said, "Increasing
environmental and infrastructure concerns are helping drive sales of our
NextBus product. And we see the government GPS/AVL market in the U.S. as being
where Canada was three years ago, so the appetite is very strong all around."
    "Canadian technology companies have some of the highest revenue growth in
North America, while playing in some of the world's largest, most competitive
and exciting market sectors," explains Ruffolo. "Outstanding companies such as
Grey Island demonstrate the incredible business acumen and entrepreneurial
spirit that fuel the Canadian technology industry."
    To qualify for the Deloitte Technology Fast 50 ranking, companies must
have been in business for at least five years, have revenues of at least
$5 million, be headquartered in Canada, own proprietary technology, and
conduct research and development activities in Canada. A panel of subject
matter experts evaluates and judges companies based on four key criteria:
competitive advantage; size, growth, and market attractiveness; management
effectiveness and organization; and financial performance.

    About the Deloitte Technology Fast 50

    This year marks the 10th anniversary of the Deloitte Technology Fast 50
program, which celebrates business growth, innovation and entrepreneurship.
The program features four distinct categories including the Technology Fast 50
Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in
business less than five years), Leadership Awards (Deloitte Technology Fast
50-ranked companies that demonstrate technological leadership in four industry
subcategories: hardware/semiconductor, software, telecommunications and
emerging technologies) and the Deloitte Technology Green 15 Awards
(recognizing companies creating innovative and economically-viable
intellectual property in the field of green technology) Program sponsors
include Deloitte, Gowlings, GrowthWorks, CIBC World Markets, Stonewood Group,
Behr & Associates, and CATAAlliance. For further information, visit
www.fast50.ca or call 1-888-6FAST50.

    About Grey Island

    Grey Island Systems International Inc. (TSX-V: GIS), through its
subsidiaries NextBus Inc. in Alameda, California, InterFleet, Inc. in New
York, New York and Grey Island Systems, Inc in Toronto, Canada, is a
technology leader providing custom real-time GPS/AVL, security and telematics
solutions as well as real-time passenger information systems to government and
related fleets. To find out more about our products and services, visit our
websites at www.interfleet.com or www.nextbus.com.




For further information:

For further information: Grey Island Systems International Inc.: Owen
Moore, (416) 348-9991, (416) 348-9993 (FAX), information@interfleet.com;
www.interfleet.com; www.nextbus.com; Renmark Financial Communications Inc.:
John Boidman, jboidman@renmarkfinancial.com; Julien Ouimet,
jouimet@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717,
www.Renmarkfinancial.com

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GREY ISLAND SYSTEMS INTERNATIONAL INC.

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