QI Systems Inc. Announces Departure of Executive Officers

QI Systems Inc. hereby announces that effective on July 3, 2008, Steven R. Garman, resigned as President, CEO, Chairman of the Board, and Director.
Also on July 3, 2008, the Dallas Office of the Company was closed and operations were consolidated to the Richmond Office.

The Company also announces that the employment of Robert I. McLean as CFO and COO terminated on December 31 2007. Mr. MacLean has also resigned as a Director.

Further, the Company announces that Mr. Billy J. Parker, Jr. resigned from the Board of Directors effective December 31, 2007.

The Company thanks Mr. Garman, Mr. McLean and Mr. Parker for their years of service to QI Systems.

The Company also announces the termination of the employment of Stephen B. Riegel. Mr. Riegel had been VP Business Development since spring of 2006. His employment was terminated on November 5, 2007. Mr. Riegel has filed a suit for unpaid wages and commissions.

This announcement is made by the Board of Directors

About QI Systems Inc.

QI Systems Inc. designs and sells card payment solutions for various industries. Products and core competencies include smart cards and stored value systems, security protocols, data communications, software design and hardware manufacture.
QI Systems Inc.
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