News Release  
For immediate release

Trading Symbol: LTI 

 

Cell-Loc appoints CFO and announces private placement 

Calgary, AB, May 5, 2004 – Sheldon Reid, President & CEO, Cell-Loc Location Technologies Inc. (TSX-V: LTI) ("CLTI" or the "Company") is pleased to announce the appointment of Dave Guebert to the position of Vice President Finance and Chief Financial Officer (“CFO”).

“We are extremely pleased to have someone of Dave’s caliber join our team at Cell-Loc,” said Sheldon Reid. “He has a proven track record as a leader in the financial community and adds considerable value to Cell-Loc’s management team as we execute our business plan to optimize the value of our technology.”

Dave Guebert has 25 years of experience in financial, accounting and commercial roles in Calgary companies. Prior to joining CLTI, he was CFO at Seminole Canada, a merchant energy company. In addition, Dave has held senior financial positions as Senior Manager at Deloitte & Touche, Controller at the XV Olympic Winter Games Organizing Committee and CFO at Hughes Aircraft of Canada. He is a Chartered Accountant (Alberta), a Certified Public Accountant (Pennsylvania) and holds a B.Comm (distinction) from the University of Saskatchewan.

As well, CLTI today announced a proposed private placement financing with Dave Guebert, who is now deemed an insider. It is anticipated that the transaction will involve 790,000 common shares priced at $0.19 per share (based on today’s closing price) for proceeds of approximately $150,100. This transaction is subject to regulatory approval.

About Cell-Loc Location Technologies Inc.

Cell Loc Location Technologies Inc. (www.cell-loc.com) is the developer of Cellocate™, a family of network-based wireless location products that enable location-based services. Located in Calgary, Alberta, Cell-Loc currently develops, markets and supports its patented wireless location technology in North and South America and Asia, with a view to expanding globally. Cell-Loc is listed on the TSX Venture Exchange under the trading symbol: "LTI."

Forward Looking Statements: This news release contains certain information that may constitute forward-looking statements under applicable securities laws. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Actual results achieved may vary from the results anticipated or implied herein and variations may be material. There is no representation by the Company that actual results achieved will be the same in whole or in part as those implied in any forward looking statements.

TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.

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For further information about CLTI and the ongoing technology business, please contact:

Tammy Yamkowy
Director, Corporate Communications & Investor Relations

Cell-Loc Location Technologies Inc.
Phone: 403.569.5748

investor@cell-loc.com