WRX Western Resources Corp

Wireless Matrix Corporation (TSX: WRX), the leading provider of mobile resource management solutions targeting field service organizations is pleased to provide the results for its three and six months ended October 31, 2008 (second quarter of fiscal 2009).

All currency expressed in U.S. dollars.

During the second quarter, Wireless Matrix continued to drive revenue growth and strengthen its leadership position in the mobile resource management space. The Corporation has experienced increased adoption of its software-as-a-service solution suite, FleetOutlook, resulting in a 12% increase in service revenue over the second quarter of fiscal 2008 and a vibrant, high quality sales pipeline. The subscriber growth has created over $1,040,000 in adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA") and net income of $483,000, a sizable improvement over prior year's losses.

"The second quarter was another quarter of healthy revenue growth and solid execution for Wireless Matrix. Clients continue to embrace our application suite to reduce operating costs and drive productivity gains despite the tough economic environment due to the rapid returns our solutions offer." said J. Richard Carlson, president and chief executive officer of Wireless Matrix. "We have released into production our first low cost GPS wireless broadband device, the Reporter 100 and will soon release an in-cab personal navigation device. These low priced devices, when coupled with innovation on the FleetOutlook platform, will accelerate subscriber additions by driving additional productivity savings, opening up the small-to-medium sized business fleets market as well as price sensitive enterprise fleet segments to the Company."

The first six months of fiscal 2009 included new subscriber additions in the rail industry from major operators like Union Pacific, General Electric and CSX; additional activations from Cable One and Time Warner in the cable & broadband space; further penetration of the utility vertical and six new rural cooperatives; and additions in other vertical markets including the oil and gas sector. Wireless Matrix is continuing to experience strong sales momentum, despite current economic conditions, in each of these rapidly growing markets as demonstrated by its growing sales pipeline and subscriber additions. Wireless Matrix ended the second quarter fiscal 2009 with 66,777 application and data communication subscribers, a growth of 12% over the same period in the prior year.

"We have the financial strength to grow through the overall economic storm, with service revenue growth of 12% over the prior year's comparable quarter, recurring revenues from high margin long term contracts, over $16 million of cash in the bank, no debt, and operations that are generating substantial cash flow." said Maria C. Izurieta, chief financial officer of Wireless Matrix.

The Corporation's subscriber gains resulted in another quarter of strong financial results, healthy growth and improved metrics for the three months ended October 31, 2008.

- Grew hosted applications subscribers base to over 37% of total subscribers.

- Generated recurring service revenue of $6,686, of which, application revenues accounted for 26% of service revenues, and increased 13% over the second quarter of fiscal year 2008.

- Total revenue growth of 7% over the second quarter of fiscal 2008 to $9,701.

- Increased service gross margin to $4,858, an increase of 17% over the prior year's comparable quarter.

- Achieved adjusted EBITDA of $1,040 for the second quarter fiscal 2009, an increase over the prior fiscal year's second quarter of 781%.

- Generated net income for the second quarter fiscal 2009 of $483, an increase of 157% over the net loss in the second quarter fiscal 2008 of $847.

- Drove cash flows from operations of $2,782, an improvement of $1,984 when compared with the same period in the last fiscal year.

- Grew the cash balance from $14,078 at the end of fiscal 2008 to $16,499 at the end of the second quarter fiscal of 2009, with no debt, resulting in a strong balance sheet.

Financial Highlights:

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All currency in thousands        Three months ended,       Six months ended,
 except per share and ARPU data          October 31,             October 31,
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                                   2008        2007        2008        2007
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Network services revenues        $4,933     $ 4,414      $9,829     $ 8,432
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Application services revenue      1,753       1,555       3,544       2,887
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                                  6,686       5,969      13,373      11,319
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Hardware revenues                 3,015       3,130       5,542       5,630
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 Total revenues                   9,701       9,099      18,915      16,949
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Gross margin                      5,461       4,672      10,835       8,859
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Service gross margin %               73%         70%         73%         70%
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Hardware gross margin %              20%         17%         18%         16%
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Gross margin %                       56%         51%         57%         52%
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Operating expenses                4,421       4,554       8,773       8,490
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Adjusted EBITDA                   1,040         118       2,062         369
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Net income (loss)                $  483       ($847)     $  854     ($1,244)
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Basic and diluted (loss)
 income per share:               $  .01      ($0.01)     $  .01      ($0.02)
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Weighted average number of
 common shares outstanding
 - basic                     82,619,916  82,521,469  82,629,978  78,816,487
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Weighted average number of
 common shares outstanding
 - diluted                   83,177,195  82,521,469  83,283,493  78,816,487
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 Cash balance                    16,499      11,740      16,499      11,740
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 Working Capital                 12,129      12,137      12,129      12,137
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 Total subscribers               66,777      59,574      66,777      59,574
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 Average Revenue Per Unit
  (ARPU)                         $32.93     $ 32.79      $32.93     $ 32.79
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About Wireless Matrix:

Wireless Matrix provides enterprise-class wireless data solutions for business-critical mobile and remote asset operations. The Corporation delivers real-time data services across cellular, satellite and WiFi networks; a variety of modems and hardware platforms; and transportation applications that increase productivity and reduce operating expenses with service fleet operations. Wireless Matrix is headquartered in Reston, VA, and has offices in San Francisco, CA, and Burnaby, British Columbia. For more information visit www.wrx-us.com.

Forward Looking Statements:

General information regarding the Corporation set forth in this document, including management's assessment of the Corporation's future plans and operations contains forward looking statements that involve substantial known and unknown risks and uncertainties. These forward looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's and management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, imperfection of estimates, effective integration of acquisitions, industry competition, availability of qualified personnel and management, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources, ability to integrate and realize anticipated benefits from acquisitions, ability to resell third party network communications at favorable rates, and to effectively manage growth. The Corporation's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward looking statements and accordingly, no assurance can be given that any of the events anticipated to occur or transpire from the forward looking statements will provide what, if any benefits to the Corporation. All data presented herein should be read in conjunction with the Corporation's regulatory filings, with the appropriate Securities Commission and SEDAR. These filings, including the Corporation's Annual Information Form ("AIF''), are located at www.sedar.com.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Wireless Matrix Corporation Maria C. Izurieta Investor Relations (703) 262-4020 Email: maria.izurieta@wrx-us.com Website: www.wrx-us.com