BC's Angel Investors See Improvement in Investment Climate, Seek Tax Incentives for Technology Investments

Techneos' wireless data collection technology surveys investors and presenting companies at 15th Angel Forum

VANCOUVER, BC. April 22, 2004 - Investors surveyed at yesterday's 15th Angel Forum believe there is a thaw in angel investment this year, and that the provincial and federal governments should both be offering tax incentives for technology community investment.

Surveys were conducted in real-time using mobile data collection software provided by Techneos Systems Inc. and run on Treo 600 and Tungsten W Smartphones from PalmOne. The survey was based on 65 responses, of which 30 were angel investors, 32 presenting companies and three categorized as other. 34 companies and approximately 70 investors were in attendance.

John McDonald, President of Rampworth, was involved in creating the questionnaire. He comments: "This survey provides us with an important snapshot of BC's angel investment community. It also provides both angel investors and companies looking for investment with a rare glimpse into each others' expectations and opinions. Our thanks to Techneos Systems for hosting a flawless survey experience."

Key findings from the survey include:

• 93% of investors feel that both provincial and federal governments should offer a tax incentive for technology community investment
• 66% of investors sense a thaw in angel investment this year over last year
• 87% of the angel investors have two or more active investments at the present time
• 69% of the angel investments are in BC-based companies
• 93% of angels expect to hold their investments for 3 or more years before getting an exit opportunity. 29% of presenting companies believes that angel investors expect liquidity within two years of their investment.
• The most common average investment size for angels (43% of investors) is $100,000 - $249,000. The most common amount presenting companies hope to raise (53% of companies) is between $500,000 and $1 Million.
• 25% of presenting companies have more than 20 shareholders today, but 56% expect to have more than 20 shareholders at this time next year.

"We're excited to demonstrate our wireless data collection technology while also providing value to the Angel Forum and its attendees" comments Mark Cameron, President of Techneos Systems. "As we interviewed individuals at the event, we were able to present the results on an overhead screen in real-time. These results are also available for viewing online at Angelforum2004.

About Techneos Systems Inc.

Based in Vancouver, Canada, Techneos Systems Inc. is a leading provider of software-driven mobile data collection solutions with over 100 customers in 15 countries. Originally founded to provide technology-based solutions for the market research industry, the company's technology has since been adopted by market leaders in the hospitality and tourism, transportation, health care and education sectors. For more information, visit www.techneos.com

For further information, please contact:

Åsa Zanatta
SPIRIT Communications
Tel: 604 408 1389/(cell) 604 724 7755