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Medical Intelligence Tracks Down GPS Bracelet Order


19th June 2008

Medical Intelligence Technologies, a pioneer in the mobile telesecurity industry and in the application of information and telecommunications technologies in the healthcare sector, today announced that it has received firm purchase orders for 500 Vega GPS Bracelets from Reial Automobil Club de Catalunya (RACC), the largest Automobile Association in Spain who also provides teleassistance services to its older members, and Vidisa, a leading Spanish distributor of wireless phones and accessories.

"Our recently introduced Vega GPS bracelet allows our customers to provide their members with value added services by providing a solution that ensures enhanced safety and mobility", says Mr. Philippe P. Huneault, President and CEO of Medical Intelligence Technologies. "RACC has over one million subscribing members, which represents an exciting opportunity to continue to penetrate the Spanish market. These orders demonstrate our ability to drive sales in a short period of time from the recently installed sales team and operations in Madrid."

The value of this purchase order is 185,000 Euros (286,750 CAD$), which excludes any subscription revenue that will be generated by these units once activated with eventual subscribers. Delivery of units is expected in the third quarter of 2008. The proceeds will be posted to the balance sheet as a deposit until the units are sold to subscribers of the telesecurity service. Revenue recognition will begin when the buyer of a Vega GPS bracelet subscribes to the Company's mobile telesecurity service and the proceeds from the sale of the device will be amortized over the estimated length of the subscription agreement.

The Vega GPS Bracelet offers freedom and mobility to individuals with a degenerative disease. Its features include a minimum security zone of 750 meters around the home of the wearer, an automatic alert in case of exit from the security zone, two-way wireless audio communication with the wearer and GPS and GSM location linked to a specialized call center. The bracelet can also be used as an indoor/outdoor panic button.

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