EZENET SELECTED AS TECHNOLOGY PARNTER FOR CAPTIVA FINANCE

Contract Strengthens Canadian Market Position and Supports Growth Strategy

TORONTO, ONTARIO (April 26, 2001) - Ezenet Corp. (TSE:EZE), today announced that it has been selected as an exclusive technology partner for Captiva Finance Ltd., a provider of vendor finance solutions.

Under the initial contract, Ezenet will develop and implement ASPcredit, Captiva's automated financing origination and processing platform. Captiva will market ASPcredit to vendors and Ezenet will provide software and processing on an ASP basis.

Terms of the contract were not disclosed and the companies expect to agree to additional terms covering future recurring revenues from back-end processing and hosting services which are expected to grow as business volume increases.

ASPcredit is seamlessly automated across the entire financing transaction, from customer application to instant credit approval to documentation and payment processing. Technology and support services provided by Ezenet will allow Captiva to provide vendors across North America with customized retail programs, enabling real time, instant financing solutions.

"Retail finance is poised for technological change," said Captiva Finance Senior Partner, Gord Barrett. "In today's marketplace, retailers must be able to provide their customers with quick, convenient financing tools in a real time processing environment. Through our partnership with Ezenet, we will offer a finance program that vendors can implement with speed and ease, supporting their customers where and when they want to make financing transactions."

"One of our principal objectives is to expand our business through strategic partnerships. This agreement fits exactly with our strategy of growing our Canadian-based business, while strengthening our platform and market-preparedness to capitalize on the potential that exists in other markets, notably the US. Our ambition is to be a preferred supplier of customer-centric technologies within the financial services market, and we are delighted that Captiva has selected Ezenet to be their technology partner," said Jay Cashmore, President and Chief Executive Officer of Ezenet.

About Captiva
Captiva is a financial intermediary providing automated small ticket financing through ASPCredit. Captiva generates business by procuring, developing and managing vendor finance programs with retailers who sell to the consumer and small business marketplace. Through these vendor programs, Captiva will provide private label finance solutions to their customers through an instantaneous Internet solution. Customers will be able to go directly to the retailer's storefront (website, physical site, or call centre), select a financing option, be credit approved and generate their own documentation - all within seconds. Captiva's ASPCredit system components are designed with the ability to integrate with wireless technologies such as the RIM Blackberry or cell phones. For more information about Captiva, please visit www.captivafinance.com.

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EZENET FIRST QUARTER REVENUE GROWS 251% OVER PREVIOUS YEAR

- Performance for Core Canadian Business Remains Strong
- Fitech Inc. Acquisition Strengthens Platform for US Market Penetration

TORONTO, ONTARIO (April 26, 2001) - Ezenet Corp. (TSE:EZE), today announced its financial results for the first quarter ended March 31, 2001.

Revenue for the first quarter grew 251% to $3,002,000, up from $854,000 during the comparable prior year period. On a sequential basis, revenue grew by 6.3% over the previous quarter, representing the 5th period of consecutive quarterly growth. Net loss for the first quarter of $531,000 compares to a loss of approximately $48,000 during the corresponding period in 2000. Net loss per share was $0.03 for the first quarter of 2001 versus a loss of $0.01 for the same period in the last fiscal year.

During the quarter, the Company continued to invest in product development and strengthening its infrastructure, with a focus on sales and marketing and management depth, in preparation for anticipated growth in the Canadian market. Operating expenses in connection with the U.S. operation amounted to approximately CDN $270,000 for the first quarter, as the Company commenced initial product marketing activities in the US.

Gary Guthro, Chief Financial Officer of Ezenet Corp., said, "While our results demonstrate progress, we are only just starting to realize the revenue potential that we expect to achieve from our ongoing investment in growing our business. The acquisition of Fitech has added additional revenue sources and we expect that it will assist us in establishing our presence in the US market. It should be noted that our consolidated revenue figure for the first quarter ended March 31, 2001 includes only two months of sales generated through the acquisition of Fitech and no revenue from the US operation. However, our results for this period do include the costs associated with the acquisition and preparations for US market launch."

"We continue to conserve our cash reserves as evidenced by a minimal operating burn rate of only $38,000 and we have entered the second quarter in a strong financial position with approximately $36.8 million in cash and cash equivalents," said Guthro.

The Company also reported that the initial prototype of its back-end processing system for the US market has been released, and that the Fitech financial planning and sales tools product suite is expected to expand the Company's product portfolio offered in the US.

Jay Cashmore, President and Chief Executive Officer of Ezenet Corp., said, "The continuing revenue and utilization trends validate our core business model and demonstrate that we are making steady progress towards becoming a dominant provider of integrated wealth management technology for the financial services industry. Canada remains our initial primary market and with recent new business announcements with CIBC and other contract renewals, we have a considerably stronger platform for future growth."

"We are continually reviewing and measuring those investment opportunities that will best support our business expansion which includes an aggressive organic growth and acquisition strategy, while maximizing the return on our investment. Over time, we believe execution on this strategy will deliver value for our shareholders," concluded Cashmore.

click here for
2001 first quarter report

Other News

On October 2, 2000, the Company announced a Normal Course Issuer Bid, which will run for one year. Ezenet believes that the recent market price of its common shares may not reflect their underlying value. The maximum number of shares that the Company can repurchase in a one-year period is 690,000. To date, the Company has repurchased a total of 320,700 shares. Ezenet believes that the repurchase of these shares increases the proportionate interest for each shareholder, and will be advantageous to investors.

Ezenet Corp. will hold its Annual General Meeting on May 30, 2001 at 10am (EDT) at the Toronto Stock Exchange Conference Centre.

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EZENET TO PROVIDE CIBC WITH ENHANCED WEALTH MANAGEMENT TECHNOLOGY

TORONTO, ONTARIO (April 24, 2001) - Ezenet Corp. (TSE:EZE), a provider of customer-centric wealth management technologies for the global financial services industry, announced today it has been selected as a technology partner by the Canadian Imperial Bank of Commerce. As part of a multi-year, $2.5 million contract, Ezenet will develop, deploy and host software to efficiently process CIBC's Retirement Income Fund (RIF) and Life Income Fund (LIF) portfolios.

"Ezenet will play a key role in helping CIBC execute its wealth management strategy, for fixed term products. Ezenet can deploy its technology quickly, has years of experience developing software for investment products and the ability to grow with CIBC's wealth management business," said Mike Boluch, Executive Director and CIO of CIBC Wealth Management Technology.

"The contract with CIBC is industry validation of Ezenet's ability to develop software that allows financial institutions to strengthen their customer offering. Providing wealth management technology is our core business competency and growth area. Contracts like this serve to strengthen the value of our brand and our market position, and grow our customer base and revenue," said Jay Cashmore, President and CEO, Ezenet Corp.

Ezenet's financial services delivery and administration processing platform consolidates all customer accounts into one manageable relationship. Flexible and adaptable, the company's technology can be easily scaled to add new applications and capabilities as customer needs grow. Ezenet's technology will enable CIBC to broaden the access of the RIF and LIF portfolios to more delivery channels, touching the customer where they want to interact with the bank. CIBC will outsource its RIF and LIF processing to Ezenet, which will use an application services provider (ASP) model for hosting and support.

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EZENET REPORTS RECORD REVENUES FOR 2000

Annual Revenue up 143% over 1999; Quarter over Quarter revenue growth continues in Q4

TORONTO, ONTARIO (March 9, 2001) - Ezenet Corp., (TSE:EZE) a provider of customer-centric wealth management technologies for the financial services industry, today announced its results for the fourth quarter and year ended December 31, 2000.

2000 Highlights

• Revenues increased 143% from $3.0 million in 1999 to $7.3 million in 2000
• Minimal operating burn rate of $442,000 for the year after adjusting for reorganization costs.
• Major development of infrastructure, including increase of personnel from 25 to 94 during the year
• Management team strengthened through the addition of CEO, CTO, CFO and VP Sales & Marketing
• Special warrants financing with net proceeds of $48.1 million in March
• Interest income of $1.9 million from investments
• Listing on the Toronto Stock Exchange in August
• Launched One-Step Internet Connectivity Platform through the acquisition of Netstor Inc.
• Acquisition of Wealth Management Solutions Inc. ("WMSI") in September
• Due diligence process began in 2000 and the acquisition of Fitech Inc. closed on February 6, 2001

Revenues for the year grew 143%, reflecting a combination of growth in Ezenet's core business and the addition of WMSI revenues for the last five months of the year. The net loss for 2000 of $1,985,709, includes two one-time items. The first is the write down of product development costs of $1,530,756 for a non-core retail software application (Instabase) that the company no longer offers. The second is a charge of $800,000 relating to reorganization of the senior management structure. The after tax effect of these two items was $1,305,223. Adjusting for these items results in a net loss of $680,486. Also contributing to the net loss were increased expenses for administration and salaries in order to build infrastructure (including office space and personnel) necessary to support the higher revenue levels and planned expansion.

During the year, the Company repurchased 130,900 of its outstanding common shares pursuant to a normal course issuer bid. The program allows the Company to repurchase up to 690,000 shares for cancellation during a one-year period ending October 4, 2001.

Fourth quarter revenues of $2.8 million were up 23% from the third quarter and contributed to a record year for revenue growth. However, the year-end revenues did come in below target as a contract expected in the fourth quarter of 2000 was delayed and is now expected by Q2, 2001.

"We have just completed a challenging building year in which an excellent foundation was laid for 2001," said Jay Cashmore, President and CEO of Ezenet Corp. "The integration of WMSI and Fitech has been successfully completed and has significantly expanded our revenue, market opportunities and customers."

"We built infrastructure largely through existing cash flow in 2000 and managed our growth carefully. As a result, we are entering 2001 with more than $40 million of the proceeds from the special warrants financing. This strong cash position will prove highly beneficial in 2001, as we continue our evaluation of complementary acquisitions," added Mr. Cashmore. "Ezenet's management is also pursuing international opportunities and strategic partnerships. Our U.S. operation has now started to introduce Ezenet products to their market, with a focus on short term revenue opportunities which we believe we can accomplish with the Fitech products."

Summary financial information for three months and year ended December 31, 2000:

* 12 month and 3 month 2000 Cash flow numbers include the $800,000 one-time expense for reorganization.

click here for comparative 2000/1999 financial
statements in adobe acrobat .pdf format

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EZENET CLOSES FITECH INC. ACQUISITION

TORONTO, ONTARIO (February 5, 2001) - EZENET Corp. (TSE:EZE) today announced that it has completed the previously announced acquisition of privately held Fitech Inc., a developer of web-based financial planning software.

This acquisition combines the strengths of EZENET's wealth management solutions and Fitech's financial planning, budgeting and sales technologies to provide quicker time to market and accelerated development of the EZENET Personal Financial Portal.

The EZENET Personal Financial Portal will enable clients of financial institutions to utilize financial planning tools while accessing the real time status of their investment portfolio. The portfolio will be consolidated within the sponsoring institution and aggregated from other institutions where the client has account relationships. By leveraging the integrated technologies within the EZENET Personal Financial Portal, financial institutions will enable their clients to execute real time investment transactions across all delivery channels including wireless and Internet.

"With the close of this acquisition, we are ramping up to provide financial institutions with our integrated personal financial technology, targeted for the mass market customer," stated Jay Cashmore, President and CEO of EZENET Corp. "The EZENET Personal Financial Portal will equip financial institutions with the technology infrastructure that enables them to leverage and optimize each of their customer relationships while adding to their fee-based revenue streams."

Under the terms of the agreement, EZENET acquired Fitech Inc. for $2.75 million and 300,000 of EZENET common shares subject to trading restrictions that expire at various stages over a 24-month period. Fitech is debt-free and has been profitable since its inception in 1995. Fitech's web-enabled financial planning tools are currently deployed in a number of Canada's largest financial institutions. Mr. Larry Lubin, President and CEO of Fitech Inc. has joined EZENET as Vice President, Financial Planning and Sales Technology.

About Fitech

Fitech Inc. is a privately owned Toronto-based financial solutions company. Since 1995, Fitech has been successfully helping leading Canadian financial institutions to formulate financial product sales strategies and develop, integrate and implement new technologies. Fitech successfully delivers the business advantages that clients require.

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EZENET ANNOUNCES BOARD APPOINTEE

TORONTO, ONTARIO (January 29, 2001) - Haron Ezer, Chairman of EZENET Corp., (TSE:EZE) a leading wealth management solutions and software provider for the financial services industry, is pleased to announce the appointment of Nicholas R. Miller to the EZENET Board of Directors.

Nicholas Miller brings to EZENET more than 25 years of experience in the information technology industry. He was the founder and president of several publicly traded, technology driven businesses including, Sona Systems Corp., Canada Microsystems Corp. and more recently, DataLink Systems Corp. (AMEX:DLK).

"Mr. Miller's years of experience leading high growth technology companies will be a valuable asset to the board of EZENET Corp. as we move to our next stage of aggressive growth and strategic acquisitions," stated Haron Ezer, Chairman of EZENET Corp.

Nicholas Miller will be filling a vacancy on the EZENET Board of Directors recently created by the resignation of Gerald M. Soloway who has resigned due to restrictions on his time commitments.

"We are very appreciative of Mr. Soloway's dedication and guidance during our early stages of growth and expansion," said Haron Ezer.

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EZENET TO ACQUIRE FITECH INC.

Acquisition expands EZENET's product offerings to include financial planning and sales technologies

TORONTO, ONTARIO (January 11, 2001) - EZENET Corp. (TSE:EZE), a leading developer of wealth management solutions for the financial services industry, today announced that it has entered into an agreement to acquire privately-held Fitech Inc., a profitable, Toronto-based developer of web-based financial planning software.

This acquisition will immediately broaden EZENET's suite of financial service offerings to include financial planning, budgeting and sales technology. Fitech's solutions will dramatically shorten time to market for EZENET's Personal Financial Portal. The portal will allow clients of financial institutions to view the real time status of their investments within the sponsoring institution and aggregated from external institutions where they have account relationships.

By deploying EZENET's Personal Financial Portal, customers of financial institutions can compare their portfolio with their unique financial plan that has been developed using Fitech's systems. The holdings within the customer's portfolio can then be easily adjusted to ensure that their personal financial plan objectives can still be met as market conditions change.

"The clients of North American financial institutions want real time, integrated solutions to plan and track their finances," said Jay Cashmore, President and CEO of EZENET Corp. " This acquisition will be immediately accretive and once completed, EZENET will have the technology to enable financial institutions to offer this integrated solution to their customers. As a result, financial institutions can expect higher levels of customer satisfaction, loyalty and increased fee-based revenues."

The purchase price consists of a payment of $2.75 million and 300,000 of EZENET common shares subject to trading restrictions that expire at various stages over a 24-month period. Fitech Inc. is debt-free and has been profitable since 1995 due to gross profit margins and low overheads. Fitech's web-enabled financial planning tools are currently deployed in a number of Canada's largest financial institutions. Mr. Larry Lubin, President and CEO of Fitech Inc. will be joining EZENET as Vice President, Financial Planning and Sales Technology.

"The financial solutions provided by Fitech and EZENET are very complimentary," stated Larry Lubin. " Fitech is a proven entity in the area of web-enabled financial planning and EZENET is a leader in the development of wealth management solutions. Together this powerful combination of solutions will connect financial service providers to their customers, enabling them to make better informed financial decisions."

The acquisition is subject to customary closing conditions and is expected to be completed in February 2001.

About Fitech

Fitech Inc. is a privately owned Toronto-based financial solutions company. Since 1995, Fitech has been successfully helping leading Canadian financial institutions to formulate financial product sales strategies and develop, integrate and implement new technologies. Fitech successfully delivers the business advantages that clients require.