FSC / Press Release
 
OceanLake Signs Contract with Seiko Epson Corporation, Japan
 
Tokyo, Japan, Santa Clara, CA and Toronto, ON- October 29, 2003 – OceanLake (TSXV:OLI) is pleased to announce the signing of the first multi-national customer, Seiko Epson Corporation-Japan. Seiko Epson Corporation-Japan has signed an Agreement with OceanLake to integrate the Japanese version of mScope into their wireless infrastructure. The multi-year, multi-license Agreement involves a license fee per install, as well quarterly maintenance and support fee on a recurring basis with an upfront cash component of $125,000. Seiko Epson Corp. plans to rollout mScope to several divisions globally over the next six to nine months.
 
"We are excited that our direct relationship with Seiko Epson Corporation has turned into a revenue producing agreement. OceanLake has worked hard on direct relationships in Japan and after demonstrating our superior technology to the market we have once again proven that we have the most robust solution in the market for wireless data access. With contracts like this, the message will propagate through the market that we are growing and gaining the market share of major corporations who are looking to get access to mobile data. We continue to see high demand for our products in Asia-Pac and will continue to expand our presence in though our office in Tokyo." Said Steve Koskie, OceanLake CEO.
 
Seiko Epson Corporation’s Mr. Cameron, Global Web Manager commented "We had the task over the past year of finding not only a wireless solution to fulfill the needs of our corporation and our customers, but a solution that can operate seamlessly in multiple countries and languages. OceanLake’s mScope solution clearly demonstrated to us this power and no other company’s products could show us the functionality and multiple device support that mScope provides us with. Seiko Epson Corporation operates web sites that will require wireless enabling in North America, Latin America, Europe, Asia and Oceania. We envision a long term relationship with OceanLake globally."
 
About Seiko Epson Corporation
Seiko Epson Corporation, Founded: May 18, 1942, Head Office: 3-3-5 Owa, Suwa, Nagano. Number of Employees: Epson Group (Consolidated): 73,797, Parent Company: 13,084 (As of Mar. 31, 2003). Main Business: Development, manufacturing, sales, marketing and servicing of information-related equipment (computers and peripherals, including PCs, printers, scanners and projectors), electronic devices (semiconductors, displays, and quartz devices), precision products (watches, plastic corrective lenses, and factory automation equipment) and other products Group Companies: 114 (Japan: 39, Overseas: 75). www.epson.com
 
About OceanLake Inc.
OceanLake provides mobile Internet-enabling software for corporate enterprises, financial institutions, service providers, and telecommunications carriers. OceanLake's flagship product, mScope, immediately enables any existing Internet infrastructure to be accessed from any Internet-enabled wireless device in real-time, including the dynamic content of enterprise-wide applications such as sales force automation and customer relationship management. The only device- and platform-agnostic "drop-in" product of its kind, mScope seamlessly integrates into any Web-based application for fast, easy and cost-effective deployment with no need for additional application development. Future OceanLake products will include voice navigation, voice authentication, location-based services and streaming. OceanLake is dedicated to helping businesses access critical resources through mobile devices, allowing people to "take the world with them." The company is headquartered in Santa Clara, California with offices in Tokyo, Japan and Toronto. OceanLake is a publicly traded company on the TSX Venture Exchange and currently has an approximate market capitalization of $10 Million.