ADB provides corporate activity update

ADB provides corporate activity update

Proceeds with funding activities; Confirms revenue guidance

Website: www.adbsys.com (TSX: ADY; OTCBB: ADBYF)

TORONTO, Dec. 1 /PRNewswire-FirstCall/ -- ADB Systems International (TSX: ADY; OTCBB: ADBYF), a global provider of asset lifecycle management solutions, announced today that it is proceeding with its fund-raising efforts and expects to close within the next few days. As announced previously, ADB has initiated a private placement that upon completion is expected to generate proceeds of $1 million to $1.5 million.

Under the terms of the private placement, ADB is issuing units priced at $0.20 each. Each unit will consist of one common share and one warrant that will entitle holders to purchase common shares in the Company at an exercise price of $0.35 each. Warrants are exercisable for a period of up to four years.

The funding will be used to sustain ADB's operations and accelerate the roll-out of its joint venture with GE.

Confirms guidance

The Company also confirmed that it will meet its revenue and performance targets for Q4, 2004 and Q1, 2005, based on the progress of its sales and marketing activities and ongoing implementation of its technology with customers.

"As announced previously, we expect to grow our revenues by more than 70 percent in the current quarter over Q3 results and generate positive cash flow from operations of at least $500,000 in Q1 of 2005," said Mr. Jeff Lymburner, CEO of ADB Systems International Ltd. "These expected record performance metrics, coupled with the imminent completion of our funding activities, are clear evidence of the momentum that ADB is building."

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior registration or qualification under the securities laws of any jurisdiction. The securities described in this news release have not been registered under the securities law of any jurisdiction.

About ADB Systems International Ltd.
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ADB Systems International delivers asset lifecycle management solutions that help organizations source, manage and sell assets for maximum value. ADB works with a growing number of customers and partners in a variety of sectors including oil and gas, government, healthcare, manufacturing and financial services. Current customers include BP, GE Commercial Equipment Financing, Halliburton Energy Resources, the National Health Service, permanent TSB, Talisman Energy, and Vesta Insurance.

Through its wholly owned subsidiary, ADB Systems USA Inc., ADB owns a 50 percent interest in GE Asset Manager, a joint business venture with GE. ADB has offices in Toronto (Canada), Stavanger (Norway), Tampa (U.S.), Dublin (Ireland), and London (U.K.). The company's shares trade on both the Toronto Stock Exchange (TSX: ADY) and the OTC Bulletin Board (OTCBB: ADBYF).

This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the Safe Harbor provisions of the U.S. federal securities laws. These include, among others, statements about expectations of future revenues, cash flows, and cash requirements. Forward-looking statements are subject to risks and uncertainties that may cause ADB's ("the Company") results to differ materially from expectations. These risks include the Company's ability to raise additional funding, develop its business-to-business sales and operations, develop appropriate strategic alliances and successful development and implementation of technology, acceptance of the Company's products and services, competitive factors, new products and technological changes, and other such risks as the Company may identify and discuss from time to time, including those risks disclosed in the Company's Form 20-F filed with the Securities and Exchange Commission. Accordingly, there is no certainty that the Company's plans will be achieved.


Source: ADB Systems International Inc.

CONTACT: At ADB Systems International Ltd.: Joe
Racanelli, Director of Marketing, Tel: (416) 640-0400 ext. 273,
Fax: (416) 640-0412, E-mail: jracanelli@adbsys.com;
To request a free copy of this organization's annual report, please go to
http://www.newswire.ca/ and click on reports@cnw.


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