Nearmap.com appoints 2 key executives

ASX Announcement 24 January 2012

nearmap.com continues to execute its growth strategy with the appointment of two key executives

ipernica ltd

ABN 37 083 702 907

Head Office:

Street Address: Suite 8,

281 Hay St, Subiaco WA 6008

Tel: [phone]

Fax: [phone]

Email: i [e-mail]

Postal Address:

Postal Address: P O Box 1327, West Perth, WA 6872, Australia

Australian Stock Exchange:

Code: IPR

Board of Directors

Non-executive Chairman:

Ross Norgard

Managing Director:

Simon Crowther

Non-executive Directors:

Karl-Christian Agerup

Rob Newman

Senior Management:

Director of Finance:

Mark Maitland VP Licensing & General Counsel:

Jonathan Lawe Davies

Capital Structure

Fully-Paid Shares on Issue:

323.1 million

Options over Unissued Shares

6.29 million @ 16c

21.66 million@ 20c

27.95 million

Cash Reserves:

A$10.9M as at 30 Sep 2011

Perth, Western Australia - ipernica ltd (ASX: IPR) is pleased to announce the appointment of two key executives at nearmap.com ("nearmap"), its online photomap content business. The enhanced senior executive team reflects the Company's renewed strategic focus and the growth opportunities available to nearmap.
Paul Cousins has been appointed Vice-President of Sales, and is responsible for leading the commercial sales strategy to monetise nearmap's digital content platform. This follows the appointment of Wilfried Schaffner as Vice-President of Engineering late last year, with
responsibility for leading nearmap's technology and new product development.
Paul has over 18 years experience in commercial sector roles ranging from business analysis and strategy to sales and sales management. Paul has
a successful track record in helping organisations shape their investment agenda intrinsically centred on improving performance and profitability. Paul spent the last 10 years selling and implementing Software-as-a- Service (SaaS) solutions and Enterprise Applications in Australia and Asia. Most recently, Paul held the roles of General Manager of Consulting Sales and General Manager of Enterprise Solutions Sales for Fujitsu Australia.
Wilfried is an experienced IT manager with substantial academic and professional knowledge in building digital products - online and mobile.
He has a proven track record in building successful teams, processes and business structures in the online and mobile industries. Wilfried has built technology teams in Australia, Europe and the US, most recently with Mobile Messenger in the US as Director of Product Management. Prior to Mobile Messenger, Wilfried was Chief Technology Officer at Truck24 in Germany helping build one of Europe's first profitable mobile services.
ipernica Chief Executive Officer, Simon Crowther, said that these two key appointments were further evidence of the Company's commitment to building a very strong executive team as part of ipernica's renewed strategic direction to further monetise nearmap and build on the attractive growth opportunities available.
"The recent success of our nearmap business in exceeding the $10 million sales milestone within two years highlights the very attractive growth opportunities available. To further build on this growth, and leverage

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nearmap's unique digital content platform, it is imperative that we have a strong executive team. The appointments of Paul Cousins and Wilfried Schaffner, two highly skilled and successful executives, enhances our management capabilities at a key point in the Company's growth history," added Mr Crowther.
For further information please contact: Simon Crowther
Managing Director
T: [phone]
E: [e-mail]
about nearmap.com

nearmap.com is an innovative online photomap content provider that creates and serves high quality, current and changing photomaps. The Company's breakthrough technology enables photomaps to be updated much more frequently than other providers. With more than 75% of Australia's population covered regularly, nearmap.com is changing the way Australian governments, companies and communities see their world.

about ipernica

ipernica ltd (ASX: IPR) is a digital content and technology commercialisation group with two major lines of business:

nearmap.com

Intellectual Property ("IP") Licensing: the licensing of intellectual property rights on an international basis.

Further information can be found at www.ipernica.com