BSM Announces Completion of Private Placement Debenture Financing With Insider

WOODBRIDGE, ONTARIO, Jan 15 (MARKET WIRE) --
BSM Technologies Inc, (TSX VENTURE: GPS)
(http://www.bsmtechnologies.com) a leading provider of high security
vehicle tracking and surveillance solutions today announced completion of
a private placement of a $450,000 Debenture Financing with a Company
controlled by the acting chairman of the Company.

The Debenture is secured against the assets of Netistix Technologies Inc
("Netistix'), a wholly owned subsidiary of the Company, and repayable
upon the earlier of July 28, 2008 and receipt by Netistix of the funds
evidenced by the notice of assessment from Canada Revenue Agency and the
Department of Finance Canada determining the amount of the Investment tax
credit refund claim (the "SRED Claim"). The Debenture bears an interest
rate of 14% per annum.

The issuance of the Debenture to an insider of the Company is exempt from
the valuation and shareholder approval requirements of Ontario Securities
Commission Rule 61-501 (the "Rule") by virtue of the exemptions contained
in sections 5.5 2 of the Rule and 5.7(1) 2 in that the fair market value
of the debt does not exceed 25% of the BSM's market capitalization. BSM
intends to proceed with the Debenture immediately as no payment or
obligations exist in respect of the Debenture at this time. The
transaction has been approved by the TSX Venture Exchange.

This press release is available on the Company's official investor
relations site for investor questions and commentary at
http://www.agoracom.com/IR/BSM. Alternatively, investors are able to
e-mail their questions to GPS@agoracom.com where they can also request
addition to the BSM investor e-mail list.

About BSM Technologies

BSM Technologies designs, manufactures and markets a comprehensive line
of AVSL ("Automatic Vehicle Security and Tracking") solutions for Fleet
Management, Law Enforcement, and Consumer Vehicle Protection, through its
subsidiary BSM Wireless. The BSM line of products range from Fleet
Management and Consumer Vehicle Protection offerings to the full featured
''Stinger'' product featured in news media worldwide as the key
technology behind the Bait and Covert application used by hundreds of Law
Enforcement agencies to deter vehicular, trailer and heavy equipment
theft.

Superior functionality, seamless switching between two separate
footprints, enhanced reliability, advanced security features, and
excellent value characterize BSM products. By incorporating advanced
wireless locating and mapping technology, and IP-based communications
protocols, the BSM line of products provides sophisticated real-time
monitoring and control of commercial and personal vehicle assets to meet
the demanding needs and stringent requirements of today's mobile
environments. BSM's unique end to end solutions feature sophisticated
wireless hardware, firmware and software all developed by and proprietary
to BSM. The BSM product line can be easily adapted and customized to
match any customer user requirement while BSM's in-house support
infrastructure assures that all clients receive the premium AVSL solution
in the industry to meet their needs.

About SecTrack

SecTrack sells Inmarsat D+ transceivers and airtime subscription to value
added resellers around the world. These VARs are typically local
companies who have built a proper monitoring and tracking service for
end-users in a multitude of maritime and land based sectors including
nuclear transport monitoring, mining, security tracking of trucks,
trailers and other vehicles and tracking of airplanes and rescue
helicopters. The company's customer base is spread over Europe, Asia,
Africa and Central and South America.

Except for historical information contained herein, this news release
contains forward-looking statements that involve risks and uncertainties.
Actual results may differ materially. Factors that might cause a
difference include, but are not limited to, market acceptance of
principal products, the impact of competitive products and technologies,
the possibility of products infringing patents and other intellectual
property of fourth parties, and costs of product development.

No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This News
Release may include certain "forward-looking statements" that involve
risks and uncertainties. Actual results may differ materially from
results indicated in any forward-looking statements. The company cautions
that, among other things, in view of the rapid changes in communications
markets and technologies, and other risks including the cost and market
acceptance of the company's new products, the level of individual
customer procurements and competitive product offerings and pricing, and
general economic circumstances, the company's business prospects may be
materially different from forward-looking statements made by the
company

TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

Contacts:
BSM Technologies Inc.
Mr. Nick Cirella
President & CEO
(905) 265-1200
Email: nickcirella@bsmwireless.com
Website: www.bsmwireless.com

Retail Investor Inquiries
AGORACOM Investor Relations
Email: GPS@agoracom.com
Website: www.agoracom.com/IR/BSM

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