News Overview

Virtual Perception Systems Inc. Brands its Commercial Identity Theft Application: MySpy

For Immediate Release

MySpy Protects Finances in a Digital World TORONTO, October 16, 2006 – Virtual Perception Systems Inc. today unveiled the brand for the commercial application of its digital protection system, MySpy. Branding and marketing experts concluded the brand generation process with MySpy following a broad-based audit of people from business, information technology, finance, and senior executive ranks across Canada. The general audit conclusion was a thumbs-up given that MySpy is a memorable brand and says what the application does.

"The launch of the commercial brand of this product represents significant progress for our company," said Darren Stevens, Chief Software Architect, Virtual Perceptions Systems Inc. "We worked hard at getting this application just right for the Financial Institutions and end-users alike. And people all over the world tell us that it has become an essential tool in protecting them against dreaded identity theft."

MySpy is the world’s first downloadable application that protects against personal and corporate fraud and identity theft through continual electronic surveillance of designated financial accounts and the production of real time digital transactional receipts.

Utilizing a secure sharing network and mobile notification systems, MySpy places you in the center of your digital world. The proprietary software continually monitors your registered accounts and alerts you when there has been a transaction. The MySpy technology has two types of applications; an enterprise solution for banks, online processors, and credit card companies to offer their clients, and a personal software application that allows consumers to manage the MySpy application, offering additional tools for surveillance of non-financial sources.

About Virtual Perception Systems Inc.

Virtual Perception Systems Inc. develops digital protection solutions. Established in January 2005, Virtual Perception Systems Inc. launched MySpy in February 2006. Currently, MySpy is in use by users around the world.

For more information please contact:
Marilyn Schaffer | T 416-260-1641 | M 416-400-5629