January 8, 2003
News Release 03-002
Trading Symbol TSX: CCB
US SEC Exemption No. 82-3378
RICHMOND, BC - Mr. Terence A. Ibbetson, President, and Mr. James L. Swanson, Chairman, of CON-SPACE Communications Ltd. (TSX:CCB) jointly announced today the advancement of their Company to the status of Tier 1 by the Toronto Exchange authorities.
CON-SPACE started 10 years ago as a small Richmond company with an idea for a unique communication system that has made it the world leader in its field. It all started with a problem that the former Canadian Airlines had when attempting to provide adequate supervision and safety measures for employees who worked in fuel cells located in the wings of jet aircraft.
Operating within fuel cells (confined spaces) without proper communication, employees were out of touch, and if a problem occurred, no one would know until it was too late. Ibbetson and Swanson came to the rescue and designed a unique high-quality industrial voice communication system that provided superior monitoring and safety for these employees. Their research told them that such equipment did not exist worldwide and that in North America alone, an estimated billion-dollar need for their equipment was being regulated into existence.
Ten years later CON-SPACE continues to grow rapidly, with positive earnings from its expanding distribution network and 'Private Label' program. The Company has 450 distributors covering all of North America, and a UK registered company for the European Market plus major distributors covering Australasia, many of the Asian Countries, as well as other countries around the world. CON-SPACE is the undisputed leader in its field and supplies all branches of the military in Canada, the USA and UK. Over 1000 Rescue teams now use their products, including the USA FEMA Teams. The Company employees are also proud that their equipment was used in the successful rescue of the nine miners in the Pennsylvania mining disaster last year. CON-SPACE includes close to 100 Fortune 500 companies in its customer list.
"We are very proud to say that our
equipment has saved lives and contributed to the safety everyone
who uses it," said Ibbetson, with Swanson concluding, "Now
to earn the right to be recognized as a Tier 1 company sets yet
another major milestone in the growth of CON-SPACE."
For more information, please call Jim Swanson, Investor Relations, CON-SPACE COMMUNICATIONS LTD., (604) 244-9323, (800) 755-2528 in the U.S., or by e-mail [email protected]. "Forward-looking" statements in this release involve risks and uncertainties associated with, among others, economic, industry conditions, technological development, and competition and should not be relied upon as actual results may differ materially from those projected.
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