CONNEXION MOBILITY LTD — Capital/Financing Update 2004

Apr 18, 2004

ECSI CHAIRMAN, BEIJING VISIT meeting with executives and Government officials from Beijing and Chengdu. Update and confirmations from Mr Lu Xiao Bing, Chairman of Jeton, (ECSI's China partner).

HIGHLIGHTS

1. OFFSHORE LISTING, MOU Imminent Major financial support for national expansion of NAR system.

Lu Xiao Bing confirms Jeton together with ECSI are nearing closure of an IPO and funding arrangement to ensure appropriate resources to complete the 200 city, national roll out program.

Mr. Lu in summary advised, "Jeton/ECSI have been working together for some time on a new offshore capital raising and IPO to support the fast national roll out of the NAR system. There have been numerous offers to fund the project from Chinese companies but we have resisted these as it is felt the benefits will be greater for all parties with international partners and investors"

ECSI CEO, Graeme Green, emphasises the importance of the IPO.

"Profit from the existing NAR system, earning revenue for ECSI and Jeton, has been consistently recorded. The return for ECSI alone in 2003 was RMB 2,509,179. This is actually a diminished amount as part of the profit has been utilized to progress future enhancements and is only based on the current client list, about 30% of the city target. We have invested heavily to establish this springboard."

"By expanding the current city minimal return across the targeted 200 cities the potential gain in revenue for ECSI is in excess of RMB 501,835,800 per annum. This indicates the huge potential for commercial returns even without the addition of the Complete City Emergency System. The IPO and subsequent funding can secure these outcomes and provide a significant return on investment."

2. Chengdu Complete Emergency System (CCES) confirmation.

• Chengdu city government and Jeton/ECSI have confirmed agreements as joint owners of the CCES. The agreement vests the commercial ownership of the project to Jeton/ECSI allowing for industry standard fees to be charged.
• Mr. Lu advises that Jeton/ECSI "Motorola (China) will be the contractor for the overall project" and that he expects the signing of Motorola (China) linking them into the agreements between Chengdu and Jeton/ECSI to be "signed off in the very near future".

3. Beijing - breakthrough in technological development of DIGITAL MAPPING SYSTEM

Mr. Lu has confirmed the exciting development in Digital Mapping technology. This proprietary technology will be used in conjunction with existing GPS technology and is successfully mapping infrastructure details of Beijing. This will greatly enhance the speed of roll out of the NAR system. Mr. Graeme Green (CEO) has added that this technological breakthrough places ECSI/Jeton in a position to commercialise the technology adding further to revenue generation opportunities.

Beiling Olympic Games site.

Mr. Lu also confirmed that in depth confidential discussions are continuing with the Beijing government on the issue of security for the games utilizing Jeton/ECSI's latest technology and services.

For complete Jeton update please contact ECSI investor relations 02 6241 3311

John Sharp Chairman