FSC / Press Release
 
Canon System Solutions Inc. Signs Letter of Intent to Distribute and License OceanLake Products in Japan
 
Toronto, ON, Santa Clara, CA, Tokyo, Japan, Singapore. October 18, 2004. OceanLake Commerce Inc. (TSXV:OLI) is pleased to announce that Canon System Solutions Inc. ("Canon System Solutions") has signed a Letter of Intent that encompasses the licensing of OceanLake's mScope product for Canon System Solutions' internal use as well as a broad distribution agreement for reselling OceanLake's product line in Japan.
 
The term of the Letter of Intent is ninety days during which time Oceanlake and Canon System Solutions will work to complete a formal agreement. Canon System Solutions and OceanLake will cooperate in the marketing and sales of OceanLake's mScope products for enterprise business in the Japanese market.
 
"We have invested a lot of time and effort in the Japanese market and we are thrilled that Canon System Solutions has agreed to add OceanLake to their portfolio." said Steven Moya. OceanLake CEO. "Canon System Solutions has hundreds of enterprise customers, many of whom want to access enterprise applications via their mobile phones without undertaking a time-consuming, complicated and expensive integration effort," said Steven Moya, OceanLake Chief Executive Officer.
 
The mScope product will help Canon System Solutions' customers achieve their desired result in a fraction of the time and expense it would take to build using traditional means. Canon System Solutions' interest in OceanLake's products indicates the demand in the marketplace for mobile data solutions, and this agreement essentially gives OceanLake a Japanese sales force that can place its solutions in major enterprises and organizations in Japan. Mr. Moya added, "This is clearly a milestone for OceanLake in the Japanese market as well as an important step in bringing the advanced capabilities of wireless enablement to large numbers of users."
 
"Over 70 million units of mobile internet appliances are now in use in Japan according to the Ministry of Internal Affairs and Communication." said Mr. Kazunori Baba, General Manager of e-Solution Business Division at Canon System Solutions. "The mobile internet access market is still growing rapidly. We are confident that there will be tremendous opportunities and demands to allow access to PC base web sites through such mobile appliances. OceanLake's mScope will provide an excellent solution for Japanese enterprise customers who would like to provide services for mobile users or apply mobile devices as their business solution tools. We strongly expect to cultivate the market with OceanLake in Japan."
 
Canon System Solutions and OceanLake will begin co-coordinating existing opportunities as well as source new business from the outset. Both Canon System Solutions and OceanLake intend to complete the formal agreement as quickly as possible.
 
More information about OceanLake and its products can be found at www.oceanlake.com.
 
About Canon System Solutions
Canon System Solutions Japan is fully owned by Canon Sales Co., ltd. a sales arm of Canon Inc. in Japan, which provides goods and services exclusively for the Japanese market. The Canon Sales Group currently includes 14 consolidated subsidiaries. The Group's vision is to become a "Marketing Technology Company" and "Digital Solution Provider" with the IT service industry as its main business area. Canon System Solutions Inc. is a core provider of IT services in the Group and provides its customers solutions that are suitable to achieve their business objectives. Canon System Solutions is headquartered in Tokyo, and also has offices in Osaka and Nagoya. For more information, please visit www.canon-sol.co.jp.
 
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. 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 San Jose, California with offices in Toronto, Tokyo and Singapore.