Paradigm Advanced Technologies, Inc.: RACO Industries Selects PowerLOC'S Destinator Navigation Device to Supply Fleet Operators

Business Wire, June 14, 2001

Business Editors, High Tech Writers

TORONTO--(BUSINESS WIRE)--June 14, 2001

Paradigm Advanced Technologies, Inc. (OTCBB:PRAV), a leading provider of GPS-based location and asset tracking, announced today that its wholly owned subsidiary, PowerLOC Technologies Inc., has received an initial six-figure order from RACO Industries, Inc. for its Destinator(TM) GPS-based navigation system.

RACO placed their order based on overwhelming response from dealers, VARs and customers who recognize the Destinator(TM) as a compelling mobile alternative to more costly, less versatile in-vehicle navigation systems.

Users enter an address into the Destinator(TM), and the device issues multi-lingual voice directions for every stage of the route. Because the device is currently compatible with only the Compaq iPAQ(TM) Pocket PC, RACO is bundling the Destinator(TM) with the iPAQ(TM) to provide a unique end-to-end solution that's unsurpassed in the industry. The package will sell for about $1,100. Current iPAQ(TM) owners will simply purchase the Destinator(TM) for about $329.00.

"We believe that the Destinator(TM) is the best GPS-based navigation system available today, and we're very excited about being first to market with this product," stated Rob Adams, CEO of RACO Industries, Inc. "RACO's dealers and customers have been searching for a navigational and communications device which is more robust and less expensive than those currently available in-vehicle. The Destinator(TM) meets that need. Given the response received through our Web site, we expect that this initial order will sell out almost immediately."

"We're very pleased to have been chosen by RACO Industries to be their exclusive provider of navigation technology," commented Eduardo Guendelman, President & CEO of Paradigm Advanced Technologies, Inc. "RACO's endorsement of the Destinator(TM) is invaluable in our quest to become a world leader in GPS based location and asset tracking."

Unveiled June 4th at the ITS (Intelligent Transportation Society) conference in Miami, the Destinator(TM) was immediately recognized by fleet managers as a quantum improvement in fleet efficiency. The Destinator(TM) is uniquely portable, as it is not embedded in a car's dash board.

RACO expects to begin delivery to its first customers by late July 2001.

In other news, Paradigm Advanced Technologies will be profiled on the television show Emerging Company Report, to be telecast this coming weekend across the United States. The show will be filmed in New York on Thursday at the American Stock Exchange. While in New York, Paradigm will also appear at Discovery EXPO, a leading investor conference, at the Hilton Hotel. For more information, see www.emergingcompanyreport.com and www.discoveryexpo.com.

About Paradigm Advanced Technologies, Inc. (OTCBB:PRAV)

Paradigm Advanced Technologies, Inc., through its wholly owned subsidiary, PowerLOC Technologies Inc., provides end-to-end technology solutions to the location service providers industry. The company works closely with companies in the telematics, GPS, M-business and L-solutions markets. PowerLOC offers its L-BIZ(TM) carrier grade Tracker, application software and mobile devices that allow to locate, track, navigate and manage vehicles, people and assets, anytime, anywhere. Paradigm also owns the exclusive licensing rights to a broad-based wireless location patent (US Patent No. B1 5,043,736) covering the apparatus and method of transmitting position information from satellite navigational signals (like GPS) over cellular systems to a base unit, and displaying the location of an object so equipped. For further information on Paradigm and PowerLOC, visit www.powerloc.com or call (800) 787-3920.

About RACO Industries, Inc.

Founded in 1991 RACO Industries, Inc. is a leading value added reseller of bar code printers, readers, scanners, CCD's, slot readers, PDA's, POS equipment, barcode labels, tickets and tags. RACO also sells the software, supplies and accessories necessary for complete bar-coding systems. RACO has recently added to its data collection services by expanding into the rapidly growing telematics industry. RACO is an authorized Location Services Provider and provides vehicle and asset tracking for its customers.

For more information, visit www.trackmyvehicle.com or call Tom Lehn at (800) 446-1991.

Safe Harbor Statement: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.