Quebec City, May 1^st, 2003 – Innovatech Québec announces new investments in Infomedia Research Group, Inc. (IRG) following a series of recent transactions. The first of these is a $1-million investment, bringing Innovatech Québec’s total investment in the company to $6 million. In addition, John McAllister and Dave Brown have acquired 18.83% of the voting shares and joined the IRG board of directors. They bring extensive high-tech manufacturing and product development expertise from their prior experience as President and Vice-President, Finance, respectively, of Primetech Electronics Inc., a major TSE listed electronics manufacturing services company. In a related transaction, Marc Girard, President and Chief Executive Officer of IRG, acquired 9.47% of the company’s voting shares.

These investments will allow IRG to enter into its next phase, namely product commercialization. More than five years of R&D have been put into developing this technology, which, under IRG’s iSmartTV^TM platform, involves the convergence of both computer and television in a single, self-defined unit. “Thanks to the financial support of Innovatech Québec and its partners, IRG will be able to break into the hospitality industry as early as this year and lay the groundwork for introducing its products and related applications into other markets,” said Francine Laurent, President and Chief Executive Officer of Innovatech Québec.

About Infomedia Research Group, Inc. (IRG)
Established in 1996, the Infomedia Research Group, Inc. (IRG) specializes in the research and development of systems, products and applications designed to promote the convergence of information technology, telecommunications and media. IRG’s head office is based in Quebec City.

About Innovatech Québec
Innovatech Québec is a Quebec government venture capital corporation specializing in pre-startup and startup financial assistance for technology companies. With a $150-million fund, Innovatech’s investment portfolio includes companies and projects in Information Technology, Telecommunications, Biotechnology and Life Sciences, Industrial Technology, Optics and Photonics.