SpatialNews Press Release

MapInfo Announces Preliminary First Quarter Financial Results

www.mapinfo.com

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TROY, N.Y., Jan 4, 2002 -- MapInfo Corporation (NASDAQ: MAPS) today announced that, based on a preliminary review, the Company expects to report revenues of approximately $22.0 million to $23.0 million and a loss per share between $0.10 and $0.13 for the first fiscal quarter ended December 31, 2001.

Factors contributing to the preliminary first quarter results include continued soft IT spending, longer customer decision cycles and global economic weakness.

"The business climate, particularly in the Americas, remained challenging for us this quarter," said Mark Cattini, president and chief executive officer of MapInfo. "Although the level of activity was as expected, a constant theme from our customers was the postponement of investment decisions into 2002. We are now reviewing the business and working towards adjusting the allocation of resources between our existing core business and our growth opportunities. We will discuss our plans and prospects during the first quarter earnings conference call on January 22."

Concluded Cattini, "In terms of our wireless location-based services initiative, we are encouraged by the results for the first quarter, which follow last quarter's breakthrough contract with a large network infrastructure provider. We continue to make progress with our strategy to penetrate the analytical CRM and wireless location-based services markets, and we believe that MapInfo, with its technology leadership, installed customer base and domain expertise in location-based solutions, will succeed in capturing these long-term growth opportunities."

The Company also announced that it has secured a $14.0 million mortgage that will fund the remaining balance of the construction of its office facility in Troy, NY. The mortgage provides immediate construction financing and is convertible into a seven and one-half-year term loan.

Including a $2 million draw down on the mortgage, the Company expects to report cash and marketable securities of approximately $31 million on December 31, 2001.

MapInfo will announce final first quarter results on Tuesday, January 22, 2002. The earnings conference call will be held at 8:30AM (EDT) and Web cast live at www.vcall.com or www.mapinfo.com/investors.

About MapInfo

MapInfo Corporation, a global company and technology leader, provides location intelligence solutions that are deployed across organizations to help them better understand their markets, customers and citizens. MapInfo solutions are available in 21 languages through a network of strategic partners and distribution channels in 60 countries. Headquartered in Troy, NY, MapInfo Corporation is on the World Wide Web at www.mapinfo.com.

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Jan 4, 2002 Jun 26, 2002