Grey Island receives $1.3 M initial contract



    TORONTO, Oct. 30 /CNW Telbec/ - Grey Island Systems. (TSX.V: GIS) wholly
owned subsidiary InterFleet Inc., a leading provider of automated vehicle
location and predictive arrival systems for government clients, is pleased to
announce that the company has signed an initial contract with a global system
integrator, for a total of US$1.3 M, utilizing custom designed high precision
mobile hardware and an in-house implementation of the InterFleet system in
support of a city-wide mobile wireless network initiative.
    The initial contract provides for client hosted infrastructure and may be
expanded to include a larger implementation of mobile equipment and associated
services encompassing thousands of vehicles.
    "The contract represents a significant achievement for the company" said
Owen Moore, President Grey Island "representing the third major in-house
implementation of the InterFleet system during the last 12 months"

    Forward Looking Statements:

    This news release contains forward-looking information based on
management's best estimates and the current operating environment. These
forward-looking statements are related to, but not limited to, Grey Island's
operations, anticipated financial performance, business prospects and
strategies. Such forward-looking statements are subject to a number of known
and unknown risks, uncertainties and other factors which could cause actual
results or events to differ materially from those expressed or implied by such
forward-looking statements. These risks and uncertainties include, among other
things, business risks, changes in market and competition, technological and
competitive developments and potential downturns in economic conditions
generally. Therefore, there can be no assurance that the expectations of the
management of Grey Island will prove to be correct.

    About Grey Island Systems:

    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.

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE




For further information:

For further information: Grey Island Systems 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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