ADB SYSTEMS INTERNATIONAL LTD.
MATERIAL CHANGE REPORT
Item 1.Name and Address of Company
ADB Systems International Ltd., Valhalla Executive Centre, 302 The East Mall, Suite 300, Etobicoke, Ontario,
Item 2.Date of Material Change
September 26, 2005
Item 3.News Release
A press release was issued through the facilities of Canada NewsWire on September 26, 2005 and subsequently
filed on SEDAR.
Item 4.Summary of Material Change
The Corporation announced changes to their board of directors on September 26, 2005.
Item 5.Full Description of Material Changes
ADB Systems International (the “Corporation”), a global provider of asset lifecycle management solutions,
announced on September 26, 2005 that Paul Godin had resigned from the Corporation’s board of directors
effective September 23, 2005 for personal reasons. A cofounder of the company, Mr. Godin served in a number
of capacities, including CEO, chairman of the board, private investor, and most recently as an active board
The Corporation also announced that Dave Gelineau has been appointed to replace Mr. Godin as board
member, pending regulatory approval.
Mr. Gelineau is based in Ottawa, and has more than 25 years of sales and marketing experience in the
information technology sector working closely with public sector organizations. Mr. Gelineau currently works as a
senior sales executive with Donna Cona, Canada’s leading aboriginal information technology services and
consulting organization. Previously, Mr. Gelineau worked with Accenture, IBM and Xwave, and was responsible
for identifying, constructing and implementing partnership strategies with Oracle, Sybase, Cognos, Hewlett-
Packard as well as several dominant telecommunications companies.
Item 6.Reliance on Subsection 7.1(2) or (3) of National Instrument 51-102
Item 7.Omitted Information
No information has been omitted in respect of the material change.
Item 8.Executive Offic