British Columbia Discovery Fund Leads Investment of $3.0 Million in Mobidia Technology Inc.


VANCOUVER, B.C.   July 12, 2005

Discovery Capital Management Corp. ("Discovery Capital"), manager of British Columbia Discovery Fund (VCC) Inc. (the "Fund" or "BCDF"), is pleased to announce that the Fund has made an additional investment of $1,000,000 into Mobidia Technology Inc. ("Mobidia") as part of a $2,500,000 financing that included the participation of Business Development Bank of Canada ("BDC") and B.C. Advantage Funds (VCC) Ltd. ("Advantage Funds"). As announced in February 2005, BCDF had previously funded an initial seed round investment of $500,000 bringing its total investment in Mobidia to $1,500,000. In connection with its investment, Greg Smith of BDC has been appointed to Mobidia's board of directors.

The Fund is also pleased to announce that Trent Punnett, Vice President, Marketing at Sierra Wireless, Inc., has been appointed to the board of directors coincident with the closing. As Vice President Marketing, Mr. Punnett is responsible for Sierra Wireless' global marketing initiatives, including strategic marketing, product management and corporate marketing and communications. Mr. Punnett joined Sierra Wireless from Motorola, where he held senior positions in marketing, business development, and sales over a period of 14 years. During his career at Motorola, Mr. Punnett worked with wireless data, cellular infrastructure, voice over IP, Wi-Fi, broadband cable and DSL technologies. He has significant experience in international markets and with major wireless and wireline telecommunications customers. Mr. Punnett holds a Master of Science, Business Administration and a Bachelor of Commerce from the University of British Columbia and is a Fellow of the Institute of Canadian Bankers. Mr. Punnett's advice and contacts in the telecommunications industry are expected to be invaluable as Mobidia develops and executes its sales and marketing strategy.

With the closing of this second round financing, Mobidia has raised $3,000,000 in aggregate, with the funds earmarked for completing product development, enhancing intellectual property protection and expanding marketing and business development. Mobidia has initiated discussions with its potential customers, which are principally Mobile Network Operators, to commence trials of its .wave™ technology.

"The closing of this financing with the participation of two new professional venture funds is a significant milestone for Mobidia," commented Charles Cook. "The market for software that enhances wireless network capacity and performance is developing rapidly with the introduction of new wireless IP services and emerging wireless standards. Mobidia has made significant progress in its product development and in its discussions with potential customers and the proceeds of this financing will allow the company to accelerate these activities."

"We appreciate the important role that Discovery Capital played in syndicating this round of financing," commented Allan Larmour, CEO of Mobidia. "Mobidia's Chief Scientist, Dr. S. Sharif, and CTO, Fay Arjomandi, have taken a foundation and holistic approach, with several U.S. patent pending technologies, to provide mix wireless data traffic management over single or mixed wireless networks and the investment syndication will play a pivotal role in assisting Mobidia to deliver these capabilities to 3G, Wi-Fi, and WiMAX networks in Q1 2006."

About British Columbia Discovery Fund (VCC) Inc.
British Columbia Discovery Fund (VCC) Inc. was established to make venture capital investments in a portfolio of small businesses in British Columbia that qualify under the Small Business Venture Capital Act, focusing on all of B.C.'s top internationally recognized technology clusters; information technology, communications, health and life sciences, and energy and environmental technologies. Established in 2002, the Fund is the largest SBVCA registered venture capital corporation making diversified investments in British Columbia with the objectives of achieving long-term capital appreciation for its shareholders and contributing to the growth in value and employment of the technology industry in British Columbia. In addition to offering a means of participating in the potential of British Columbia's newest technology ventures, the Fund offers significant tax savings to eligible British Columbia individual and corporate investors. The Fund offers its shares on a continuous basis and has raised approximately $26 million to date. To obtain further information about the Fund, please contact a registered advisor, or visit www.sedar.com or www.bcdiscoveryfund.com.

About Discovery Capital Management Corp.
With nearly 20 years of venture capital experience in British Columbia, Discovery Capital is a venture fund manager and investor specializing in: information technology, communications, health and life sciences, and other advanced technologies. We have enhanced value for over 250 technology ventures, with our proven expertise in strategic planning, management development, innovative financing strategies, corporate governance and positioning for liquidity.
For more information about Discovery Capital, please visit www.discoverycapital.com.


About Mobidia Technology Inc.

Mobidia Technology, Inc., develops and sells IP traffic management software for monitoring, managing, and monetizing wireless data streams to and from smartphones and laptops. The company's innovative and award-winning, .wave™ (dot wave) solution enables wireless operators to enhance their mobile data network by understanding and managing their user data streams on a per application, per service, and per network basis. Mobidia is headquartered in Vancouver, British Columbia. For more information, visit www.mobidia.com or call (604) 304-8640.

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Mobidia is a service mark of Mobidia Technology, Inc.

Mobidia Technology, Inc.
Sales Contact:
Allan Larmour
VP of Business Development
Email: al.larmour@mobidia.com
Phone: +1 604.304.8640 Ext. 100

Media Contact:
Jill Koehler
Email: jill.koehler@mobidia.com
Phone: +1 604.304.8640 Ext. 136

For all other inqueries about Mobidia Technology, Inc., please call +1 604 304 8640, fax +1 604 304 8447, or email via info@mobidia.com. For additional information, visit www.mobidia.com.