Vancouver, British Columbia - October 29th, 2007 – WebTech Wireless Inc. (TSX: WEW), a leading supplier of location based and fleet Telematics services, today reported revenue of $15.3 million for the year ended July 31, 2007,  having restated revenue of $10.6 million related to suspended operations in Brazil as previously reported.

Revenues of $15.3 million represent a decrease of 6% over prior year.  Revenues fell from the prior year due primarily to the fact that a significant portion of sales in the period are from sales to the Company’s Value Added Reseller in Brazil, for which no revenue was recognized from November 30, 2006 onwards.   Revenue from sales in North America increased by 14% over the prior year as sales to government fleets and small to medium commercial fleets increased.  Revenue from sales in Europe fell by 1% year over year as the Company focused its international operations on the now suspended operations in Brazil. 

Net loss for the year was $26.2 million ($0.49 per common share) including more than $22.2 million in one-time charges related to the suspended operations in Brazil plus $0.5 million related to changes in accounting policies and estimates and a foreign exchange loss of $1.5 million, contributed to largely by the large foreign asset balances held by the Company throughout the year related to the Brazil operations.  The loss for the year compares with earnings of $1.1 million ($0.03 per common share) for the prior year.

The Company reported a gross profit margin of 57.3% compared with 50.5% for the prior year.    

The increase in gross profit margin is a reflection of a greater percentage of overall revenues coming from higher margin recurring subscriptions and services.  Total subscription and services revenue increased to $5,529 from 3,852, an increase of 43.5%.

For the quarter ended July 31, 2007, WebTech reported revenues of $3.8 million representing a decline of 23% from revenues in the prior comparable quarter of $5.0 million. Net loss of $7.1 million ($0.13 per common share) was primarily caused by non-cash charges totaling $5.3 million relating to impairment of inventory manufactured and under contract for manufacture for sale to the Company’s VAR in Brazil.  The loss in the quarter compares with net income of $0.6 million ($0.02 per common share) in the prior comparable quarter. The Company earned a gross profit margin of 69.0% on an increase in revenue of 39% on sales of $1.5 million compared with a gross profit margin of 51.6% on sales of $1.1 million for the same quarter of the prior year, in part due to the aforementioned improvement in higher margin subscription and service revenue versus hardware revenue.

At year end, the Company reported total assets of $36.7 million (2006: $22.3 million) and working capital of $31.8 million (2006: $18.8 million).  During the year the Company generated $40 million (2006: $13 million) from the issue of common shares pursuant to a private placement completed in January 2007.

“2007 was a dynamic and challenging year in which WebTech achieved significant milestones and yet ultimately suffered a severe disappointment in Brazil, however the results from our core business – increasing sales in the US, strong subscription revenue and improving margins overall bode well for the future,” comments Scott Edmonds, Chief Financial Officer of WebTech Wireless Inc. “The restatement of the Q2 and Q3 unaudited interim results (which had no impact on our reported net income) is a reflection of our continuing efforts to achieve the highest standards of corporate governance as we grow and evolve, including our recent migration from the TSX Venture Exchange to the TSX, the recent expansion of our board and the appointment of PricewaterhouseCoopers as auditors.”

The Company announces that it will hold a conference call on October 29, 2007 at 5:00 PM Eastern Time and that a recording of the conference call will be posted on the Company’s website at www.webtechwireless.com within 24 hours of the call.  Interested parties may participate in the call by dialing 1-800-926-9192 or 1-212-231-2905 (international callers).  For further details, please view the Company’s financial statements and management’s discussion and analysis at www.sedar.com.

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About WebTech Wireless Inc.
WebTech Wireless Inc. (TSX: WEW) is a global Telematics, location-based services provider that develops, manufactures, and delivers turnkey wireless solutions designed to improve productivity and profitability. WebTech Wireless products include wireless hardware and software services running on cellular and satellite networks, and include Automatic Vehicle Location, Mapping, Reporting, Vehicle Diagnostics, Driver Status, In-vehicle Telemetry, Messaging, In-vehicle Navigation, and wireless application and Internet connectivity. WebTech Wireless is currently providing devices and services worldwide in eight languages to over forty-one countries covering five continents. WebTech Wireless’ scalable solutions are used by a broad range of small, medium and Fortune 500 companies and by governments. For more information, please visit www.webtechwireless.com.

Forward Looking Statements
This press release contains forward-looking statements involving risks and uncertainties pertaining to, but not limited to product plans, timing, content, and pricing of products, market and industry expectations, the wireless communications industry, the mobile fleet industry, and general economic and political conditions. Given the risks and uncertainties inherent in the markets and industries referred to in this press release, WebTech Wireless cannot guarantee that any forward looking statements will be realized.

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For further information on WebTech Wireless, please contact:

Press / Media Contact:
Corey Grant / WebTech Wireless
(+1) 604-628-5194 cgrant@webtechwireless.com

Investor Relations Contact:
R. Joe Dhami
(+1) 877-811-4518 ext. 236, ir@webtechwireless.com