Pulse Data announces approval of Shareholder Rights Plan by shareholders

TSX: PSD

CALGARY, Sept. 21 /CNW/ - Pulse Data Inc. ("Pulse" or the "Company") announces that its Shareholder Rights Plan (the "Plan") was approved by its shareholders at the Special Shareholders' Meeting today.

The results of the voting were as follows:

-   Approximately 56% of the outstanding Pulse shares were voted at the
    Special Shareholders Meeting. Of the Pulse shares voted at the
    meeting, approximately 75% were voted in favour of the Plan and
    approximately 25% were voted against.

-   Excluding the Pulse shares owned by ValueAct Capital (a joint actor
    in respect of the Seitel Offer), all of which Pulse believes were
    voted against the Plan, an overwhelming 98% of the remaining
    Pulse shares voted at the Special Shareholders Meeting were voted in
    favour of the Plan.

-   In addition, Pulse received a proxy representing 4,123,386 Pulse
    shares from a shareholder voting in favour of the Plan, which proxy
    was not voted at the Special Shareholders Meeting as it was received
    before the meeting but after the proxy deadline. Had such proxy been
    included in the voting results, there would have been approximately
    64% of the outstanding Pulse shares voted at the meeting, of which
    approximately 78% would have been voted in favour of the Plan
    (representing approximately 99% of the total number of Pulse shares
    that would have been voted, excluding those owned by ValueAct
    Capital.)

Pulse reminds its shareholders that the Plan provides two important
protections to shareholders in case of take-over bids such as the current
Seitel Offer:

1.  The Plan prevents a creeping take-over of the Company, by requiring
    that any take-over offer must be accepted by shareholders holding a
    majority of the outstanding shares (other than those held by the
    offeror); and

2.  The Plan provides the Company with additional time to pursue
    alternatives to maximize shareholder value.

Pulse also announces that with respect to the Seitel Offer, the Board of Directors has deferred the Separation Time of the rights issued under the Plan until September 28, 2007.

Disclaimer: Certain information contained herein may constitute

forward-looking statements under applicable securities laws. Such

statements are subject to known or unknown risks and uncertainties that

may cause actual results to differ materially from those anticipated or

implied in the forward-looking statements. Investors are encouraged to

review the "Risk Factors" section of the Management's Discussion and

Analysis in the Company's most recent Annual Report and interim reports

for a discussion of risks that could affect the Company's operations and

financial results. Forward-looking statements are based upon management's

assumptions, expectations and estimates at the time that such statements

are made. Pulse does not update forward-looking statements should

circumstances change or management's assumptions, expectations or

estimates change, unless required by law.