CALGARY, Alberta—(BUSINESS WIRE)—August 3, 2007— Intermap Technologies Corp. (the "Company"), today reported financial results for the second quarter ended June 30, 2007. A conference call will be held today at 10:00 am eastern time to discuss the results.

Financial Review

All amounts in this news release are in U.S. dollars unless otherwise noted.

For the second quarter, Intermap reported an increase in total revenue to $7.1 million, as compared to total revenue of $3.7 million for the second quarter of 2006. The contract services revenue component grew 105% to $5.9M and multi-client data licenses (MCDL) grew 60% to $1.2M. Approximately 77% of the MCDL revenue was associated with the Company's NEXTMap USA program, primarily in the states of Texas and Arizona and also the Canadian border. "The market for Intermap's products continued on a strong uptrend in Q2," stated Brian Bullock, president & CEO of Intermap.

Cost of services expense for the second quarter ended June 30, 2007 increased to $2.6 million, compared to $1.6 million for the second quarter of 2006, reflecting an increase in the costs associated with increased contract services work and preparation costs associated with future mapping activities.

Sales, general, and administrative expenses for the second quarter were $6.0 million, compared to $5.0 million for the second quarter of 2006. The increase was related to the overall expansion in the areas of sales, marketing, and business development to support its NEXTMap USA and NEXTMap Europe programs.

Amortization expense of the multi-client data library in the second quarter increased to $1.0 million (year-to-date $1.9 million) from $0.5 million (year-to-date $1.0 million) for the same period in 2006, as a result of the increase in amortization on the NEXTMap USA dataset. Amortization of the NEXTMap USA dataset totaled $3.1 million for the twelve month period ended December 31, 2006.

For the second quarter of 2007, Intermap reported a net loss of $4.3 million, or ($0.12) per share, compared to a net loss of $3.3 million, or ($0.09) per share for the same period in 2006.

Cash and cash equivalents at June 30, 2007 were $33.7 million, as compared with $48.2 million at December 31, 2006. The Company's working capital was $35.5 million, compared with $51.0 million at December 31, 2006. Following the close of the quarter, on July 12, 2007, Intermap completed a C$33 million common share financing issuing 5.5 million shares at C$6.00 per share. As of July 12, 2007, Intermap held $62.3 million in cash.

The net proceeds from the financing will be utilized to fund the development of value-added products in the Company's three most active markets: flood risk modeling, 3D personal navigation devices (PND), and advanced driver assistance systems. "We've made a strategic decision to develop value-added applications enabled by our 3D geospatial database in response to market demand coming from our most active markets," continued Mr. Bullock, "To enable automotive safety applications we are creating road centerlines for all classes of roads in the U.S. and Europe, whereas within the personal navigation device (PND) market we are now aggregating multiple recreational data sets for the U.S. Our flood modeling development is currently focused on full-country flood risk solutions for the insurance markets in Europe. The development of vertical market solution applications will increase the value of our NEXTMap datasets and can expedite market penetration - giving Intermap valuable first mover advantage. I am pleased to report positive progress on all fronts."

The net proceeds from the financing will also support the accelerated development of the NEXTMap USA and NEXTMap Europe data sets with the data collected in the first half of the year exceeding the amount collected in any prior full year. Intermap is collecting a record amount of NEXTMap data in 2007 and has therefore increased its data processing resources. The Company now has over 200 employees dedicated to processing the collected data in its Denver, Jakarta, and Ottawa offices. In addition, we have a subcontractor in Thailand with 40 staff dedicated to processing NEXTMap data. Plans call for the staffs to grow in Jakarta to 240 and Thailand to 100 by year-end.

OPERATIONAL HIGHLIGHTS

NEXTMap USA

NEXTMap USA is the Company's largest project that includes terrain elevation and imagery data accurate to one-meter or better, covering nearly eight million square kilometers of the United States. During the second quarter, Intermap collected an additional 664,000 square kilometers of data for its NEXTMap USA project, bringing the total collected since the inception of the project to 3.2 million square kilometers, or 40% of the continental United States. The Company expects to have the collection portion of the NEXTMap USA project completed by the end of 2008.

Currently, Intermap has data available off-the-shelf for 659 counties in the US. The Company expects a continued increase in license revenues in 2007 as marketing activities generate interest from new NEXTMap USA customers. Through June 30, 2007, total cumulative license revenue to date for NEXTMap USA data has grown to approximately $10 million.

NEXTMap Europe

NEXTMap Europe calls for the mapping of 17 European countries including Austria, Belgium, Czech Republic, Denmark, England, France, Germany, Irish Republic, Italy, Luxembourg, Netherlands, Northern Ireland, Portugal, Scotland, Spain, Switzerland, and Wales. Once completed, these datasets will be the most accurate 3D digital maps of Europe in existence.

Fifty-percent of the NEXTMap Europe project has been collected, or approximately 1.1 million square kilometers of data. NEXTMap Europe now includes the entire countries of England, Scotland, Wales, Germany, Denmark, and most of France. Final production of Germany is currently being completed and the entire dataset will soon be available. "As individual countries are completed in Europe, we expect additional revenue opportunities to close," stated Mr. Bullock.

The NEXTMap Europe project is expected to be fully collected by the end of 2007. Acceleration of the data processing is being driven by demand within the European automotive, government, and insurance sectors. The final processing of the map data is expected to be complete and available for sale shortly thereafter in 2008.

Flood Modeling

Intermap is developing a version of its successful flood modeling application pioneered in Great Britain for other European countries. During the second quarter, Intermap reached an agreement with SwissRe for use of their flood modeling algorithms within the application and for SwissRe quality assurance support for all of Europe.

This year, Intermap acquired MultiMedia Computer (MMC), a Czech Republic based company that provides Intermap with an easy-to-use 3D visualization tool that's currently being used for flood risk applications in the Czech and Slovak Republics. The Company is completing a demo section of Germany for the German insurance market and estimates that the German flood market is the largest in Europe, potentially valued at tens of millions of dollars per annum.

Insurance companies can use NEXTMap's superior flood risk information to better define possible risks, and thus can better manage portfolios and their own purchase of reinsurance coverage. The combined knowledge can result in a net reduction of annual costs and much better management of risk. Intermap is also in discussions with U.S. insurers for commercial insurance applications.

Personal Navigation Devices (PNDs)

During the quarter, Intermap developed successful demonstration products incorporating its 3D maps into handheld GPS personal navigation devices, or "PNDs". The target market for these devices includes users of off-road vehicles, hikers, hunters, fisherman, skiers, and mountaineers. Today's 2D maps generally end at the pavement, leaving a large market demand served only by GPS devices with digitized topographic maps. Intermap estimates that approximately 3 million 2D PND/GPS units were shipped to this recreational segment in 2006, at a growth rate of more than 70%. Intermap has installed portions of its 3D database of U.S. national parks onto handheld PND devices from leading manufacturers for prototype trials. The results have been impressive and the Company is working towards formalizing agreements with a leading manufacturer for product development.

The state of California is now complete with all data layers required for effective recreational PND navigation and safety. Significant market interest has been generated by Intermap's marketing and business development efforts for this product.

Mr. Bullock commented, "We believe that adding 3D visualization and safety to the recreational market applications will drive consumer demand and exceed market expectations. Safety applications will also migrate to the on-road applications as well fueling the need for accurate 3D descriptions of the road, which we are pursuing through our Advanced Driver Assisted Systems (ADAS) initiative."

Advanced Driver Assisted Systems (ADAS)

In the last year, Intermap has announced agreements with TeleAtlas, Harman Becker, and Siemens VDO to support emerging Intelligent Transportation Systems (ITS) applications with Intermap's 3D road vector data. Subsequent to the close of the second quarter, Intermap announced the signing of a joint development agreement with Visteon Corporation, an internationally recognized automotive technology developer, to provide Visteon with highly accurate 3D road geometries for the entire country of Germany. The data will be incorporated into the development of advanced applications of a 3D road vector map database for use in future automotive systems. The initial focus will be on predictive adaptive front lighting systems, which offers enhanced visibility for drivers at night by directing the headlamp light before the driver directs the vehicle into a curve, or up or down a hill.