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Founded in 1978, Ezenet is a leader in the provision of software solutions and integrated technologies for the banking and financial services industry. With more than 20 years of experience building financial software applications and developing secure on-line banking and e-commerce systems, we have established firm foundations on which to provide a range of integrated services across the new generation of Internet and wireless-enabled devices.

Headquartered in Toronto, Canada, Ezenet has a strong base of blue-chip clients, including all of Canada’s schedule”1” banks, trust companies, credit unions, mortgage companies and leasing corporations. With the establishment of our newly incorporated subsidiary, Ezenet USA Inc. and the opening of offices in North Carolina, we have begun to expand our client base into the United States. Additional U.S. offices are expected to open later this year in Chicago, Los Angeles and New York.

In March 2000, Ezenet announced the successful completion of $50-million Special Warrants equity financing. The financing was completed by a syndicate of investment dealers led by Octagon Capital Corporation, and including Salman Partners Inc. and Acumen Capital Finance Partners Inc.

Proceeds of this offering are being used to further develop Ezenet's banking software and front-end wireless and Internet solutions for banks and financial services companies. These new offerings are designed to complement Ezenet's existing back-end infrastructure, and include the development of enhanced security software and Linux financial applications. A program of strategic acquisition, the formation of alliances and partnerships with front-end solutions providers, and a US-focused marketing and sales force expansion program, will ensure Ezenet is well placed to succeed in the new generation of mobile commerce.

Ezenet has made two key acquisitions since raising $50 million earlier this year. Ezenet acquired all of the assets of netSTOR Technologies Inc. (NetStor), a Canadian developer of network server appliances. netSTOR's proprietary servers, which are tailored directly to the needs of ISPs, ASP's and WAP services, are expected to reduce Ezenet's development time on wireless and Internet banking. netSTOR security-enhanced version of the Linux operating system will also further enhance Ezenet's solution offering.

Ezenet acquired Wealth Management Solutions Inc. (WMSI), a Toronto based software developer for the financial services sector. Recently named as one of the top 25 “Up-and-Comers” of Canadian IT companies by Branham Group Inc., WMSI is a recognized leader in the development of investment plan and asset administration systems. The acquisition of WMSI has increased Ezenet’s revenue base and added technology resources to Ezenet. Jay Cashmore, Founder and President of WMSI has been appointed President and CEO of Ezenet.

For more information contact:
Gary Perkins
Ezenet Investor Relations
Toronto, Canada
Phone: (905) 889-1711
Toll Free: 1 800 225-2744

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