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GuestLogix Reports Fiscal 2008 First Quarter Financial Results

— Revenue increases by more than 100% —

TORONTO, ON — April 23, 2008 — GuestLogix Inc. (TSX-V: GXI), the leading provider of on-board retail solutions to the airline industry, announces its financial results for the three-month period ended February 29, 2008. All results are reported in Canadian dollars unless otherwise stated.

Q1 Fiscal 2008 Financial Summary

Q1 Fiscal 2008 Highlights

• Secured multi-year agreement with Europe's largest low-fare airline and on-board ancillary revenue leader, Ryanair
• Completed entire fleet deployment for Delta Air Lines
• Entered into a multi-year agreement and deployed Swedish short-haul airline carrier, The Skyways Group
• Signed contract and deployed Germanwings to process on-board cash, credit and debit card purchases
• Established on-board retail development team to build merchandising programs with product and service providers
• Partnered with SkyMall to deliver an on-board shopping service integrated with SkyMall's on-board catalogs
• Appointed media veteran Mark K. Updergrove to Board of Directors
  

"The first quarter saw us double our revenue over the prior year and set the stage for continued strong growth with several important new agreements," said Tom Douramakos, President and CEO of GuestLogix. "Overall, our strategy is to continue to grow our global footprint in the airline industry, to expand our revenue growth opportunities by establishing product, service and channel partnerships and to enter the rail travel segment. The addition of three more air carriers to our Mobile Virtual Store during the quarter increased our coverage to more than 600 million passenger trips annually. Through our partnership with SkyMall, we achieved a significant milestone in integrating third-party products and services, which will be sold through our platform starting this summer."

Q1 Fiscal 2008 Financial Review
GuestLogix generated revenue of $1.4 million in Q1 2008, up 109% from $0.7 million in Q1 2007. The year-over-year improvement reflects the expansion of the Company's deployed customer base, which grew to 11 revenue-producing clients, up from six for the same period last year.

Recurring revenue represented 100% of total revenue in Q1 2008, in line with Q1 2007. Over the longer term, the Company expects recurring revenue to account for approximately 85% of revenue, with additional revenue derived from one-time sales of hand-held devices.

Total operating expenses in Q1 2008 were $1.9 million, compared to $0.8 million in the first quarter of 2007. The year-over-year increase was driven primarily by the Company's additional planned investment in personnel and resources to support continued growth. Most notably, GuestLogix has significantly grown headcount in its deployment and support areas, resulting in an increase in general and administrative expenses to $0.8 million, from $0.2 million in Q1 2007. Headcount has grown to 38, compared to 12 as at February 28, 2007. Sales and marketing expense in Q1 2008 was $0.3 million, or 20% of revenue, compared to $0.1 million, or 21% of revenue, for the same period last year.

EBITDA was $0.009 million in Q1 2008, compared to $0.2 million in Q1 2007. The year-over-year change primarily reflects GuestLogix' increased investment in its operations to support anticipated future growth.

EBITDA adjusted for non-cash stock based compensation was $0.064 million in Q1 2008 compared to $0.2 million in Q1 2007.

For Q1 2008, GuestLogix recorded a net loss of $0.5 million, or $0.01 per share, versus a net loss of $0.8 million, or $0.03 per share, for the same period last year.

In Q1 2008, cash used in operating activities was $0.9 million, compared to $0.3 million in Q1 2007. As at February 29, 2008, GuestLogix had cash and cash equivalents totaling $3.8 million, compared to $6.0 million as at November 30, 2007. The $2.2 million decrease was primarily a result of the Company internally funding the deployment of point-of-sale devices internally during the quarter. Subsequent to the quarter end, GuestLogix arranged for loan and lease facilities which will be used to reimburse the funds drawn down in the first quarter for device purchases, thereby replenishing the Company's cash reserves. In addition, these loan and lease facilities will finance other anticipated device deployments on a go-forward basis.

At quarter end, the total shares issued and outstanding were 48,051,970.

Subsequent Material Event
GuestLogix also announces that it has signed a multi-year contract with a U.S. airline and expects to complete the deployment in late summer. GuestLogix does not expect to recognize revenue on this contract until deployment is complete, but believes the long-term opportunity to be material. The customer involved cannot be named at this time, but the Company expects to announce additional details of the agreement upon full deployment.

Financial statements and MD&A will be available at www.guestlogix.com and www.sedar.com.

(1)Earnings before interest, taxes, depreciation and amortization ("EBITDA") is a financial metric used by many investors to evaluate companies in this industry on the basis of operating results and the ability to incur and service debt. EBITDA does not have a standardized meaning prescribed by GAAP and may not be comparable to similar measures presented by other companies. The disclosure of EBITDA is not intended to replace, but only augment, the discussion of financial results from operations or cash flows.

Notice of Conference Call
GuestLogix will host a conference call Wednesday April 23, 2008, at 8:30 a.m. Eastern Standard Time to discuss its first quarter Fiscal 2008 financial results and the Company's progress. To access the conference call by telephone, dial 416-644-3416 or 1-800-732-6179. Please connect approximately fifteen minutes prior to the beginning of the call to ensure participation. The conference call will be archived for replay until April 30, 2008. To access the archived conference call, dial 416-640-1917 or 877-289-8525 and enter reference number 21269467#. The replay will also be available at www.guestlogix.com.

About GuestLogix
GuestLogix is the leading provider of on-board retail technology and solutions to the passenger travel industry. Through its proprietary Mobile Virtual Store™ platform, the Company provides air, rail and ferry operators the tools to become successful on-board retailers, enhance service and drive ancillary revenue growth. With a customer base consisting of world leading airlines such as American Airlines, Delta Air Lines, Ryanair, Air Canada and Alaska Airlines, GuestLogix currently serves more than 600 million passenger trips annually. For additional information please visit www.guestlogix.com and www.sedar.com.

Forward-Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on April 23, 2008 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

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