INTERMAP ANNOUNCES ACCEPTANCE OF FINAL SHUTTLE RADAR TERRAIN MAPPING DATA DELIVERY

Posted by Rich Mohr

Mar 29, 2005 8:00:00 AM

Denver, Colorado (March 29, 2005): Intermap Technologies, (IMP - TSX) announced today that its final Shuttle Radar Topography Mission (SRTM) data production delivery has been accepted by the National Geospatial-Intelligence Agency (NGA). 

This acceptance marks the successful conclusion of Intermap's effort on the production task order, which Intermap supported as a subcontractor to The Boeing Company, in processing the elevation data from the NGA-NASA SRTM project. The Boeing/Intermap team completed the editing and quality assurance of the data ahead of schedule and within the negotiated contract amount. As a result of its performance on the production task order, the team has subsequently received an additional task order for value-added processing to fill voids in the SRTM data with alternate sources of elevation information. 

In February 2000, NASA's Space Shuttle Endeavour flew the Shuttle Radar Topography Mission, collecting digital elevation data for approximately 80% of the Earth's land surface. It is the first, close to worldwide, radar coverage that is used for the creation of three-dimensional digital elevation model (DEM) maps ranging from 60 degrees north latitude to 56 degrees south latitude. 

"Intermap's in-process Quality Control and Boeing's Independent Validation and Verification processes ensured consistency in product, while minimizing rework. These two important elements of our production chain continue to be key success factors in maintaining production project schedule and budget," stated Intermap's director of customer care, Walter Sedlacek. 

"Strong inter-organizational cooperation among Boeing, Intermap and NGA was key in making the SRTM Production program a geospatial technology success story," said Andrea C. Ham, Boeing's SRTM project manager. 

About Intermap 

Intermap is digitally remapping entire countries, building unprecedented national databases, called NEXTMap, of highly accurate digital topographic maps (including elevation). Customers purchase Intermap's high-quality, low-cost data to facilitate better decision-making for numerous commercial, governmental, military and consumer applications. 

Demand for NEXTMap data is growing as new commercial applications are emerging, including geographical information systems (GIS), engineering planning, transportation, automotive, navigation, flood, irrigation, environmental management and planning, telecommunications network planning, aviation, simulation and 3D visualization. Internet applications include virtual tours, topographic maps and computer games. The products are also used to add interactive intelligence to airborne and satellite images. 

Headquartered in Denver, Colorado, Intermap employs more than 250 people worldwide, with offices in Calgary, Ottawa, Munich and Jakarta. Intermap is publicly traded on the TSX Toronto Stock Exchange under the symbol IMP. For more information, visit www.intermap.com

For further information, please contact: 

Monica Moore 
Director of Marketing 
(303) 708-0955 
mmoore@.intermap.com

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Topics: NEXTMap

Intermap's 3D terrain map extends Norwich Union's flood map to Scotland

Posted by Rich Mohr

Mar 23, 2005 9:00:00 AM

Norwich Union Insurance has acquired Intermap's three-dimensional terrain map of Scotland in order to extend its flood mapping project across Great Britain. The Norwich Union Flood Map uses Intermap's Digital Terrain Model (DTM) to provide detailed and accurate information on the height of land in river catchments. Created electronically using sophisticated airborne radar, Intermap's NEXTMap Britain map gives highly accurate heights above sea level at 5 metre intervals across the whole of Scotland, England and Wales. 

According to researchers at Dundee University, it is estimated that the risk of flooding in some parts of Scotland is expected to double in the next 80 years because of climate change and global warming. Areas of particular risk include river basins, such as the Clyde, which would experience a 50% increase in flooding by the end of the century. Most of Scotland's coast, which lies below 5 metres, could also be vulnerable to flooding, as sea levels are predicted to rise by between 80 mm and 300 mm over the next 50 years. Flooding in inland areas is also expected to rise by 10% to 20% in the same period. At present, 93,000 properties in Scotland are at risk from coastal flooding and 77,000 are at risk from inland flooding, which causes around £20 million worth of damage every year. 

The Norwich Union Flood Map covers extents and depths of river flooding for 7 return periods, 10, 25, 50, 75, 100, 250 and 1000 years. Using modern digital mapping technology and recognised hydrological modelling techniques, the risk of flooding can be ascertained for individual properties at a sub-postcode level. This spreads the risk more accurately than has been achievable before and provides more accurate premiums. In many areas, people will benefit directly because in some cases the new map may indicate that their property is not in fact at risk or won't flood as previously thought. 

"There has been enough flooding in Britain since we embarked on this project for us to feel confident that our flood map is now the best tool available for assessing risk for individual properties," said Jill Boulton leader of Norwich Union's flood team. "Intermap's Digital Terrain Model of the landscape has provided us with consistent land height data for all the river catchments across England and Wales and now Scotland from which to model the return periods," continued Boulton. 

Notes for editors 
NEXTMap is the name given to Intermap's national program for mapping the terrain of whole countries in unprecedented detail. This program, which employs Intermap's radar (IFSAR) mapping technology to capture elevation and imagery data, is the industry benchmark for accuracy and affordability. The data is obtainable for areas as small as 2 sq km and available at different resolutions and price points for use with a wide variety of computer software, including CAD, GIS and modelling. The data can be used in a wide range of commercial applications, including engineering, transportation, navigation, flood mapping, environmental assessment and management, mobile network planning, simulation and 3D visualisation. Major NEXTMap Britain data users include the Environment Agency, Norwich Union, and the National Assembly for Wales, the Scottish Executive and the British Geological Survey. 

NEXTMap Britain data is sold under license directly through Intermap's own online store at www.intermap.com or through its network of distributors. 

About Intermap 

Headquartered in Denver, Colorado, Intermap employs more than 250 people worldwide, with offices in Calgary, Ottawa, Munich and Jakarta. Intermap is publicly traded on the TSX Toronto Stock Exchange under the symbol IMP. For more information, visit www.intermap.com. 

CONTACTS: 
Editorial contact: William Allbrook on tel. 01666 826641 
Please fax colour separation requests to fax no. 01666 824668 

UK Reader enquiries to: 
William Allbrook, Hay Loft, Burnivale, Malmesbury, SN16 0BL 
Tel: 01666 826641 
E-mail: william@market-it.co.uk
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Topics: NEXTMap

Photoscape 3D Professional, The Simplest Way to View The Country

Posted by Rich Mohr

Mar 21, 2005 10:00:00 AM

Photoscape 3D Professional, The Simplest Way to View The Country 

Announced today, Photoscape 3D 2nd Edition is a significant enhancement to this 3D virtual landscape software for PCs. Covering the whole of England and Wales, this is the ultimate software to view and explore the landscape in 3D. New features include interface tweaks, improved navigation and GPS compatibility. A 'Professional' version with multi-region access is also available allowing the software to be networked for multiple users. Screenshots can be captured and used for presentations-the perfect tool for site reports and job pricing. 

Launched initially as a consumer product with 47 regions, the product has impressed professionals with the quality of the viewing experience and countrywide coverage not possible without a significant investment in both software and data. With Photoscape 3D Professional, £500 buys access to all 47 regions, effectively the whole of England and Wales, and a single user licence. Ten regions can be purchased for £250, with an additional five regions for £100. Multiple user licensing is via a hardware key or 'dongle', simply plug into a network node and the software is enabled for the number of licensed users. 

New enhancements to the software include a more intuitive user interface; enhanced navigation, 'rotate and roam' target points and panoramic fly throughs. GPS compatibility means that it is possible to plot waypoints, add names and comments and export to a GPS device. Similarly, routes can be recorded with comments on a GPS device in the field and imported into Photoscape 3D. 

Unlike a flight simulator, Photoscape 3D immerses the user directly into the region of choice there are no take-offs or landings, just enter a grid reference or GPS route or use the built in gazetteer. The game-like controls allow the user to choose the height and speed at which they travel over the landscape, whilst arrow buttons or a joystick controls the direction. A compass aids navigation and an adjacent dial controls the angle of vertical view, allowing vertical, bird's eye or 3D perspective views. A thumbnail relief map of each region provides a visual approximation of the real-time location; simply clicking within this area will move the view to that location. The current region and place name are displayed and updated as the user moves over the landscape. Simply clicking in the viewing pane lets the user know the precise location and the nearest gazetteer reference. 

Notes to Editors 
Photoscape 3D is the result of close collaboration between four companies: Getmapping, who supplied the aerial imagery; Intermap Technologies, who supplied the terrain data; aerial photography partner BlueSky, the publisher responsible for packaging and channel marketing; and McCarthy Taylor Systems who provided the 3D engine and software development. Photoscape 3D delivers the ultimate sense of reality by using the most up-to-date, high-resolution nationwide imagery and elevation data to deliver a 'real-world' 3D experience. 

Editorial enquiries, contact William Allbrook on tel. 01666 826641 
Please fax colour sep. requests to Robert Peel on fax 01666 824668 
All reader enquiries to BlueSky sales on 01530 518562 

About The Photoscape 3D Partners 
Getmapping's Millennium Map, is the first ever complete seamless aerial photographic image of Britain. Getmapping vertical aerial photography is also available at higher resolutions for professional business users such as civil engineers, architects and developers. Through www.getmapping.com, any area of England, Wales and lowland Scotland can be viewed and downloaded or e-mailed as a jpeg file. Super high-resolution photography of Britain's major towns and cities is also available. 

Intermap's NEXTMap Britain has been one of the world's most ambitious mapping projects. Using advanced airborne radar, the entire British Isles has been mapped electronically in 3D. With a specially equipped Learjet flying at night at an altitude of up to 28,000 ft, the data was captured every 5 metres with an impressive sub-metre vertical accuracy. The result of this effort is a remarkable offering: an extensive, accurate, cost-effective method of modelling terrain across the whole of Great Britain. www.intermap.com 

BlueSky is a specialist aerial photography company and is a Getmapping reseller for offline sales. As well as supplying aerial photography off the shelf BlueSky offers a complete range of associated professional services including flying to order, film processing, photogrammetry and large format printing. Through its Wildgoose brand BlueSky supplies a huge range of educational resources from maps and globes to site centred aerial photography. BlueSky is now part of the Ordnance Survey's 'OS Options' scheme and is able to supply a large range of customised mapping solutions. www.bluesky-world.com 

McCarthy Taylor Systems Ltd is an independent software house specialising in 3D terrain modelling software. Its main product, called LSS, is used across a wide range of industries and applications ranging from mineral extraction, land surveying, hydrographic design and surveying, civil engineering, construction, landscape architecture, consultancy, to air and traffic accident investigation, geotechnical engineering, waste management and archaeology. www.mccarthytaylor.com 

Minimum Photoscape 3D System Requirements 
Pentium 1Ghz processor 
Windows XP, 2000, ME or 98 operating system 
256 MB Ram 
3D Graphics card with at least 32MB of Video Ram 
32bit desktop colour setting 
DVD-Rom Drive
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Topics: New Product Introduction, NEXTMap

Intermap Shareholder Provides Increased Funding for NEXTMap USA

Posted by Rich Mohr

Mar 17, 2005 9:00:00 AM

Denver, Colorado - March 17, 2005 -Intermap Technologies, (IMP - TSX) announced today that it has completed a Private Placement of $9,000,000 CDN led by an existing major shareholder, Special Situations Funds, of New York. In addition, Greenway Capital of Dallas Texas was a participant in the placement. 

Brian Bullock, President & CEO of Intermap commented, "We welcome the strong interest of U.S. investors in the Intermap opportunity. These significant investors share our vision in NEXTMap and recognize the potential it presents. This incremental investment increases the working capital available to Intermap for the NEXTMap initiative while enabling major shareholders to increase their holdings." 

Intermap will use the proceeds for working capital purposes and expand the build-out of NEXTMap USA, Intermap's largest project to date. NEXTMap USA is the creation of a three dimensional country wide database of the United States including elevation and imagery with sub 1-meter accuracy. 

Through December 31, 2004, Intermap has collected in excess of 562,000 square kilometers of data within the United States. 

"Our progress on NEXTMap USA has been excellent," stated Mr. Bullock. "Enthusiasm among our U.S. customers is growing. Through December 2004, we have secured one nation-wide buyer and anticipate at least a second formal commitment for the national U.S. database this year as well as a number of partial data set buyers in various industries. In addition, we have experienced tremendous enthusiasm within the U.S. investment community, as demonstrated by today's announcement of this significant investment." 

To date, Intermap has acquired blocks of data from several states including Mississippi, California, Florida, Nevada and West Virginia, each driven by specific demands from both the public and private sectors. During 2005, the Company will complete the states of California and Florida and anticipates license sales to customers in 2005. "The state of California alone has an economy that rivals Canada's in terms of GDP and as a test market should demonstrate an effective case study of the NEXTMap USA potential" added Bullock. 

Intermap has issued 2,005,655 Units for aggregate consideration of $9,025,447. Each Unit had a purchase price of $4.50 and consisted of one Common Share of the Corporation and one Common Share Purchase Warrant. Each full Warrant entitles its holder to one Common Share upon payment of an exercise price of $5.30 per Common Share and expire three years from today. The Warrant Agreements provide for earlier expiry of the Warrants in certain circumstances. An additional 50,000 Common Share Purchase Warrants, expiring two years from today with an exercise price of $5.85, were issued to an arms-length third party for services rendered in connection with the transaction. 

The securities issued in connection with the private placement are restricted from resale (except in reliance on a further exemption from securities legislation) until July 18, 2005. 

Intermap is digitally remapping entire countries, building unprecedented national databases, called NEXTMap, of highly accurate digital topographic maps (including elevation). Customers purchase Intermap's high-quality, low-cost data to facilitate better decision-making for numerous commercial, government, military and consumer applications. 

Demand for NEXTMap data is growing as new commercial applications are emerging, including geographical information systems (GIS), engineering planning, transportation, automotive, navigation, flood, irrigation, environmental management and planning, telecommunications network planning, aviation, simulation and 3D visualization. Internet applications include virtual tours, topographic maps and computer games. The products are also used to add interactive intelligence to airborne and satellite images. 

Headquartered in Denver, Colorado, Intermap employs more than 250 people worldwide, with offices in Calgary, Ottawa, Munich and Jakarta. Intermap is publicly traded on the TSX under the symbol IMP. For more information, visit www.intermap.com. 

Corbet Pala 
Investor Relations 
E-vestor Communications Inc. 
(416) 657-2400 
cpala@evestor.com
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Topics: NEXTMap

Intermap Reports 2004 Year-End Financial Results

Posted by Rich Mohr

Mar 17, 2005 8:00:00 AM

CALGARY, ALBERTA--(CCNMatthews - March 17, 2005) - 

NEXTMap data licensing gains momentum 

Intermap Technologies Corporation (TSX:IMP), today reported fourth quarter and year-end results for the periods ended December 31, 2004. 

Total revenues for the year ended December 31, 2004, were $21.7 million as compared to revenues of $40.6 million in 2003. Comparative sales results for 2004 demonstrated both the volatility of Intermap's traditional contract services business, and the value of revenue consistency from the Company's new NEXTMap licensing business model. For the year, Intermap experienced an increase in licensing revenues from sales of its NEXTMap database to $7 million, an increase of over 300% as compared to 2003. Intermap's new business model (NEXTMap) is based on building archived databases of complete national digital elevation and terrain maps, then licensing the data to multiple customers for varied applications. The growth of NEXTMap revenues partially offsets the decline in contract services revenue for the year, and contributed 32% of total revenues. Intermap reported a net loss for the year of $5.5 million, or ($0.38) per share, as compared to net income of $3.3 million, or $0.31 per share in 2003. 

Cash and cash equivalents at December 31, 2004, were $4.3 million, as compared with $1.5 million at December 31, 2003. For the year, the Company invested approximately $9 million into building the NEXTMap multi-client data library, primarily in the United States. At December 31, 2004, the Company's working capital was $6.0 million compared with $5.1 million at December 31, 2003. 

For the fourth quarter ended December 31, 2004, Intermap reported total revenues of $2.1 million and a net loss of $4.0 million, or ($0.25) per share, as compared to revenues of $8.2 million and net income of $41,000, or $0.00 per share, for the same period in 2003. Revenues in the fourth quarter were lower than expected as revenue opportunities totaling approximately $3.0 million for the quarter were delayed until 2005. 

"While contract services work was lower last year, we are once again looking at several large scale projects for 2005 as a result of recent global events including the tsunami in South East Asia, and the ongoing war on terror," said Brian Bullock, President & CEO of Intermap. "Funds that have been allocated for projects that Intermap is competing for in 2005 are twice what we saw in 2004. As a result, we are looking for noteworthy growth in contract services revenue over last year." 

Contract services work helps fund the build out of the NEXTMap database. As Intermap continues the transition of its business model, deriving an increasing portion of its revenues through NEXTMap data license sales, the Company expects more consistent and predictable revenues than the Company's traditional contract services model. 

NEXTMap license revenue increased substantially in 2004. Management views 2004 as the pivotal year in the transition of the Company's business model. Throughout 2004, Intermap made a large commitment to the build out of NEXTMap USA. The initiative became a priority following the success of NEXTMap Britain in 2003, which has produced revenues of $15 million to date. The Company has now invested more than $10 million into NEXTMap USA, collecting data covering more than 562,000 square kilometers of the continental United States as of December 31, 2004 - the equivalent of two NEXTMap Britain databases. The Company intends to have California, Florida and Mississippi completed this year for licensing to customers. 

The majority of the multi-client data license sales in 2004 were derived from the NEXTMap Britain initiative, which was completed in 2003. Intermap embarked on NEXTMap USA in late 2003, which will generate national U.S. terrain elevation and imagery database accurate to one meter or better. Intermap continues to work with commercial and government customers to co-sponsor the development of the NEXTMap USA database. 

In September 2004, Intermap received a subscription contract from the National Oceanic and Atmospheric Administration (NOAA) for Intermap's NEXTMap USA coastal data. Under the contract, Intermap will provide NOAA with NEXTMap USA imagery and elevation map data for regions in Florida, Alabama, Louisiana and Mississippi. This is the first phase of a planned multi-year program that is anticipated to include the purchase of NEXTMap data for the entire coastline of the continental United States, valued at U.S. $5.5 million dollars. The Company reports that two other national contracts are currently under negotiation. 

A substantial amount of working capital was invested in increasing the production throughput to support the data volumes required for NEXTMap USA. As a result, Intermap's processing capacity in 2005 is approximately twice that of 2003. In addition to increasing capacity, Intermap has reduced the cost of production for NEXTMap USA by approximately 50% compared with the costs in NEXTMap Britain. The Company expects additional reductions in 2005. 

Conference Call 

A conference call to review the results will take place the same day 5:00pm., ET (3:00 p.m. MT). Brian Bullock, President and CEO and Richard Mohr, CFO will speak on behalf of the Company. A question-and-answer period will follow a review of the financial results and update on the Company's strategies and progress on its NEXTMap business model. Detailed financial results for the quarter and management's discussion and analysis can be found on SEDAR, at www.sedar.com

To participate in the call, please dial 416-695-9701 or 1-888-333-4519 approximately 10 minutes prior to the conference call. A recording of the conference call will be available through March 26. Please dial 416-695-5275 or 1-866-518-1010 to listen to the rebroadcast. After this date, the recorded call will be available atwww.intermap.com

About Intermap 

Intermap is digitally remapping entire countries, building unprecedented national databases, called NEXTMap, of highly accurate digital topographic maps (including elevation). Customers purchase Intermap's high-quality, low-cost data to facilitate better decision-making for numerous commercial, government, military, and consumer applications. 

Demand for NEXTMap data is growing as new commercial applications are emerging, including geographical information systems (GIS), engineering planning, transportation, automotive, navigation, flood, irrigation, environmental management and planning, telecommunications network planning, aviation, simulation and 3D visualization. Internet applications include virtual tours, topographic maps and computer games. The products are also used to add interactive intelligence to airborne and satellite images. 

Headquartered in Denver, Colorado, Intermap employs more than 250 people worldwide, with offices in Calgary, Ottawa, Munich and Jakarta. Intermap is publicly traded on the TSX under the symbol IMP. For more information, visit www.intermap.com

The above disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond Intermap's control, including: the impact of general economic conditions, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to the announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. Intermap's actual results, performance or achievement could differ materially from those expressed in, or implied by these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceed, that Intermap will derive therefrom. 

Intermap Technologies Corporation Consolidated Statements of Operations and Deficit (In Thousands of Canadian dollars) Three Three months months Year Year ended ended ended ended Dec 31, Dec 31, Dec 31, Dec 31, 2004 2003 2004 2003 ------------------------------------------------------------------------ Revenue: Contract services $ 795 $ 8,079 $ 14,777 $ 38,938 Multi-client data licenses 1,321 116 6,944 1,618 ------------------------------------------------------------------------ 2,116 8,195 21,721 40,556 Operating costs: Cost of services 1,616 2,979 9,163 17,052 Research and development 331 380 1,380 1,388 Sales, general and administration 3,098 3,263 12,777 13,365 Depreciation of property and equipment 748 879 2,817 3,349 Amortization of multi-client data library 332 536 1,094 1,547 Gain on sale of property and equipment -- -- -- (13) ------------------------------------------------------------------------ 6,125 8,037 27,231 36,688 ------------------------------------------------------------------------ Earnings (loss) before interest, income taxes, and non-controlling interest (4,009) 158 (5,510) 3,868 Income taxes Current (recovery) (54) 11 (16) 68 Future -- -- 4 -- ------------------------------------------------------------------------ (54) 11 (12) 68 Net earnings (loss) before interest and non-controlling interest (3,955) 147 (5,498) 3,800 Interest expense 30 106 198 548 Interest income (14) -- (154) -- ------------------------------------------------------------------------ Net earnings (loss) before non-controlling interest (3,971) 41 (5,542) 3,252 Non-controlling interest 11 -- 11 -- ------------------------------------------------------------------------ Net earnings (loss) (3,960) 41 (5,531) 3,252 Deficit, beginning of period: As previously reported (13,102) (10,841) (10,800) (14,052) Adjustment to reflect the change in accounting for stock-based compensation -- -- (731) -- ------------------------------------------------------------------------ As restated (13,102) (10,841) (11,531) (14,052) ------------------------------------------------------------------------ Deficit, end of period $(17,062)$(10,800)$(17,062)$(10,800) ------------------------------------------------------------------------ ------------------------------------------------------------------------ Earnings (loss) per share: Basic $ (0.25)$ 0.00 $ (0.38)$ 0.31 ------------------------------------------------------------------------ ------------------------------------------------------------------------ Fully diluted $ (0.25)$ 0.00 $ (0.38)$ 0.30 ------------------------------------------------------------------------ ------------------------------------------------------------------------ Intermap Technologies corporation Consolidated Balance Sheets (In thousands of Canadian dollars) ------------------------------------------------------------------------ ------------------------------------------------------------------------ December 31, December 31, 2004 2003 ------------------------------------------------------------------------ Assets Current assets: Cash and cash equivalents $ 4,304 $ 1,547 Amounts receivable 4,430 4,268 Unbilled revenue 1,082 5,402 Prepaid expenses 486 270 ------------------------------------------------------------------------ 10,302 11,487 Property and equipment 19,072 14,037 Multi-client data library 13,822 4,828 Future income taxes 22 26 Long-term investments 484 520 Deferred financing charges - 10 ------------------------------------------------------------------------ $ 43,702 $ 30,908 ------------------------------------------------------------------------ ------------------------------------------------------------------------ Liabilities and Shareholders' Equity Current liabilities: Bank loan $ - $ 1,156 Accounts payable and accrued liabilities 3,462 4,208 Deferred lease inducements 151 - Deferred revenue 63 131 Current portion of obligations under capital lease 371 375 Current portion of long-term debt 240 545 ------------------------------------------------------------------------ 4,287 6,415 Deferred lease inducements 399 - Obligations under capital lease 415 132 Long-term debt 441 2,027 Non-controlling interest 16 - Shareholders' equity: Share capital 53,712 33,010 Contributed surplus 1,494 124 Deficit (17,062) (10,800) ------------------------------------------------------------------------ 38,144 22,334 Commitments and guarantees ------------------------------------------------------------------------ $ 43,702 $ 30,908 ------------------------------------------------------------------------ ------------------------------------------------------------------------ Intermap Technologies Corporation Consolidated Statements of Cash Flows (In Thousands of Canadian dollars) Three Three months months Year Year ended ended ended ended Dec 31, Dec 31, Dec 31, Dec 31, 2004 2003 2004 2003 ------------------------------------------------------------------------ Cash and cash equivalents provided by (used in): Operations: Net earnings (loss) $(3,960) $ 41 $ (5,531) $ 3,252 Items not involving cash: Depreciation of property and equipment 748 879 2,817 3,349 Amortization of multi-client data library 332 536 1,094 1,547 Amortization of deferred financing charges -- 9 10 17 Compensation expense 224 50 640 212 Gain on sale of property and equipment -- -- -- (13) Future income taxes (2) 7 4 7 Non-controlling interest (11) -- 11 -- Change in non-cash operating working capital 3,517 3,054 3,132 1,297 ------------------------------------------------------------------------ 848 4,576 2,177 9,668 Financing: Issuance of common shares 54 6 22,041 11 Security issuance costs -- -- (1,423) -- Deferred leasehold inducements 550 -- 550 -- Repayment of long-term debt , net (97) (253) (1,891) (1,490) Repayments of bank loan -- (11) (1,156) (1,494) Repayment of obligations under capital lease (149) (102) (498) (433) ------------------------------------------------------------------------ 358 (360) 17,623 (3,406) Investments: Purchase of property and equipment (1,700) (2,149) (8,186) (5,223) Investment in multi-client data library (3,579) (1,629) (8,977) (2,588) Proceeds on disposal of property and equipment -- -- -- 13 Proceeds on disposal of long-term investments -- 60 120 120 ------------------------------------------------------------------------ (5,279) (3,718) (17,043) (7,678) ------------------------------------------------------------------------ Increase (decrease) in cash and cash equivalents (4,073) 498 2,757 (1,416) Cash and cash equivalents, beginning of period 8,377 1,049 1,547 2,963 ------------------------------------------------------------------------ Cash and cash equivalents, end of period $ 4,304 $ 1,547 $ 4,304 $ 1,547 ------------------------------------------------------------------------ ------------------------------------------------------------------------ FOR FURTHER INFORMATION PLEASE CONTACT: E.vestor Communications Inc. Corbet Pala Investor Relations (416) 657-2400 Email: cpala@evestor.com or Intermap Technologies Richard Mohr Chief Financial Officer (303) 708-0955, Ext. 214 Email:rmohr@.intermap.com or Genesis Select Corporation (UNITED STATES) Budd Zuckerman Investor Relations (303) 415-0200 Email: bzuckerman@genesisselect.com
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Topics: Financial Results

Intermap Notice: Year-End Conference Call

Posted by Rich Mohr

Mar 15, 2005 8:00:00 AM

CALGARY, ALBERTA--(CCNMatthews - March 15, 2005) - Intermap Technologies Corporation, (TSX:IMP) issued notice today that it will release fourth quarter and year-end financial results after the close of trading on Thursday March 17, 2005. 

A conference call to review the results will take place the same day 5:00pm., ET (3:00pm MT). Brian Bullock, President and CEO and Richard Mohr, CFO will speak on behalf of the Company. A question-and-answer period will follow a review of the financial results and update on the Company's strategies and progress on its NEXTMap business model. 

To participate in the call, please dial 416-695-9701 or 1-888-333-4519 approximately 10 minutes prior to the conference call. A recording of the conference call will be available through March 26. Please dial 416-695-5275 or 1-866-518-1010 to listen to the rebroadcast. After this date, the recorded call will be available atwww.intermap.com

Intermap is digitally remapping entire countries, building unprecedented national databases, called NEXTMap, of highly accurate digital topographic maps (including elevation). Customers purchase Intermap's high-quality, low-cost data to facilitate better decision-making for numerous commercial, government, military and consumer applications. 

Demand for NEXTMap data is growing as new commercial applications are emerging, including geographical information systems (GIS), engineering planning, transportation, automotive, navigation, flood, irrigation, environmental management and planning, telecommunications network planning, aviation, simulation and 3D visualization. Internet applications include virtual tours, topographic maps and computer games. The products are also used to add interactive intelligence to airborne and satellite images. 

Headquartered in Denver, Colorado, Intermap employs more than 250 people worldwide, with offices in Calgary, Ottawa, Munich and Jakarta. Intermap is publicly traded on the Toronto Stock Exchange under the symbol IMP. For more information, visit www.intermap.com

Corbet Pala 
Investor Relations 
E-vestor Communications Inc. 
(416) 657-2400 
cpala@evestor.com
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Topics: Financial Results

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