Cell-Loc Renegotiates Debt

Cell-Loc Location Technologies Inc. (TSX VENTURE:XCT) reports that it has
entered into settlement agreements with its debenture holders. Under the terms
of the agreements, each of the four debenture holders will receive fixed monthly
payments aggregating $20,000 plus 60% of the proceeds of any new financing
obtained by the Company until the principal amount of the debenture is repaid.
Unpaid interest which has been accrued to date will not be paid under this
arrangement. The Company has agreed to issue 300,000 shares to the
debentureholders as part of the settlement agreement.


In addition, the Company has reached agreement with its former CEO, Sheldon
Reid, whereby it has established the amount owing to Mr. Reid for deferred
salaries and for cash advances made to the Company. The Company and Mr. Reid
have executed mutual releases as part of the agreement.


As a result of the agreements discussed above, the Company will reduce its
liabilities by approximately $887,000 and will record a gain in that amount on
its 2010 financial statements.


By achieving this settlement, the Company has been successful at reducing the
outstanding payables and avoiding further legal claims. The payments required
under these arrangements are more manageable and allow the Company to continue
to move ahead with its business plan.


About Cell-Loc Location Technologies Inc.

Cell-Loc is an intellectual property company that has a proprietary technology
designed for deployment of wireless data transmission and location based
services. The Company has installed a commercial network in Sao Paulo, Brazil
where its technology is being deployed for stolen vehicle recovery services
within that network. Cell-Loc is currently in the engineering design and
development phase whereby its technology will be deployed for telemetry markets
that can be serviced by an existing network or customized as a stand-alone low
cost line of sight network application.


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For further information about Cell-Loc and the ongoing technology business,
please contact Keith Bohn or Dave Guebert.

Cell-Loc Location Technologies Inc. (TSXV:XCT)
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