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Imagis Technologies Seeks Approval from TSX to Re-price Outstanding Share Purchase Warrants

VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 9, 2002--Imagis Technologies Inc. ("Imagis") (OTCBB:IGSTF) (TSX VENTURE:NAB) (Germany:IGY), a leading developer of law enforcement software and biometric systems using advanced facial and image recognition technology, announced today that it has submitted a request to the TSX Venture Exchange ("TSX") in which Imagis is seeking approval to re-price outstanding Share Purchase Warrants (the "Warrants") to purchase 523,851 Common Shares of Imagis. The Warrants were issued pursuant to a private placement on November 9, 2001. Presently, the exercise price for these Warrants is CDN$2.55 (CDN$2.17 in the case of 15,633 of the Warrants).

Imagis proposes to re-price the Warrants to allow holders, at their option, to exercise the Warrants either at CDN$1.81 per share (being the average closing price of the Imagis Common Shares for the 10 trading days ending December 9, 2002) (the "10-day Average Price"), or at CDN$1.63 per share (being a 10 percent discount to the 10-day Average Price). The CDN$1.63 per share revised exercise price will only be available until December 19, 2002. All Common shares acquired on the exercise of Warrants at the CDN$1.63 price will be subject to a four-month hold period from the date of issuance.

Assuming all of the warrant holders execute at a price of CDN$1.63 per share, Imagis will receive CDN$853,877 for these transactions.

About Imagis Technologies Inc.

Imagis Technologies Inc. (OTCBB:IGSTF; TSX-VEN:NAB; Germany:IGY) develops and markets identification systems and database applications based on advanced biometric face and image recognition technologies. This includes identification and security solutions for use in law enforcement and public safety, airports, customs and immigration, driver's licenses and passports, and other government agency and private-sector initiatives.

The Company, whose Chairman is Oliver "Buck" Revell, the former Associate Deputy Director of the FBI, has over 140 installations of its software located across the United States, the United Kingdom, Canada, Latin America, and Asia-Pacific. This includes one of the UK's national police agencies; more than 50 RCMP detachments and police departments across Canada; over 50 police departments across the United States; New Zealand Customs; and Toronto's Pearson International Airport.

For more information about Imagis Technologies, please visit http://www.imagistechnologies.com.


ON BEHALF OF THE BOARD OF DIRECTORS
Iain Drummond, President & CEO, Imagis Technologies Inc.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.


CONTACT: Imagis Technologies Inc. - Investor Contact
Michael O'Connor, 604/684-2449
Email: [e-mail]
Website: www.imagistechnologies.com
or
Typhoon Capital Consultants - US Investor Contact
Sanjay Sabnani, 310/349-2245
Email: [e-mail]

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