World Wise Technologies Inc. is pleased to provide an interim Company update.

WORLD WISE TECHNOLOGIES INC. Press Release - July 22, 2003 Toronto, Ontario World Wise Technologies Inc. is pleased to provide an interim Company update. Mr. Michael McLaren, President and CEO, reports the following important news: 1. Trading: In February of this year, World Wise Technologies Inc. was halted from trading by the Ontario Securities Commission (the "OSC"). The stop trading order was issued as a direct result of a delay in the filing of the Company's consolidated financial statements for its year ended September 30th, 2002. The delay was unavoidable. Preparation of the financial statements was hindered by personnel turnover. More importantly, the Company was required, as a result of business circumstances beyond its control, to engage new auditors for the yearend. This important decision was supported by the Company's management and was approved by its shareholders. The change in auditors from KPMG to Schwartz Levitsky Feldman resulted in an unavoidable delay in the completion of the Company's audited financial statements for OSC filing purposes. Understanding the significance of a change in auditors prior to the yearend, the OSC granted a financial reporting deadline extension. The extension, however, was subsequently rescinded. Notwithstanding the obstacles, the Company's consolidated financial statements for the Fiscal Year 2002 (September 30, 2002) were completed shortly thereafter and were filed by management on SEDAR. Consolidated financial statements for the subsequent first and second quarters of Fiscal 2003 were filed in early June. At this point, the OSC informed the Company that it was under a Continuous Disclosure Review, which is currently ongoing. On June 20th the Company was delisted for failure to pay its sustaining fees. The Company is now considering trading in the United States. It is filing the necessary forms in order for it to trade on the OTC Bulletin Board. The intent is to enter a new market offering more liquidity for the trading of its shares. At the same time, Company management is investigating other trading opportunities and is also considering new acquisitions that fit in with its business plans. 2. Operations Over the past few months, management has worked hard to streamline expenses while selling off non core assets. It continues to process orders through its manufacturing arm (Acutec Plastics). The Company has relocated from its old address to new premises located at 26 Denley Avenue, Toronto, Ontario. 3. Management Changes After four years of dedicated service, Craig Johnson has left the Company to pursue other business interests. His efforts over the years have been appreciated. The Company wishes him success in his new pursuits. Mr. Michael McLaren is pleased to announce two important additions to the Company's management team. Mr. George Augustowitsch has joined the Company in June 2003 as its Chief Financial Officer and as a Director serving on the Company's Board. George brings with him over twenty five years of business experience having worked as a Chartered Accountant in a number of financial executive positions in several large organizations and also as a financial management consultant to large corporations. Mr. Ron Maruszczak has been appointed as the Operations Manager. Ron has broad business experience in manufacturing, investing and money markets. Mr. Michael McLaren wishes them both success in their new roles and is looking forward to working with his new team. Mr. McLaren also wishes to take this opportunity to thank the Company's shareholders for their patience through this difficult period. Mr. Michael McLaren, President and CEO For information please contact: B&B Communications Stan Buchalter 905-627-0735 Terry Bramhall 905- 527-7703 www.bandbconsultants.cjb.net