OASIS Member News:Latitude Partners says fast growing Canadiansoftware company has right ingredients

[Scott McGrath <scott.mcgrath@oasis-open.org>]

LATITUDE PARTNERS SAYS FAST GROWING CANADIAN SOFTWARE COMPANY HAS
RIGHT INGREDIENTS FOR XML MARKET SUCCESS
For Immediate Release
AUGUST 14, 2001

Moncton, NB, - Whitehill Technologies, Inc. today announced it has
secured $ 5 million in capital funding from the Longitude Fund, a
technology merchant banking fund managed by Latitude Partners of
Toronto, Ontario.

Growing steadily since its founding in 1997, Whitehill now boasts
300 enterprise class customers in 32 countries around the world,
and numbers nearly 70 employees. In the past year, Whitehill
Technologies has increased revenues by nearly 100% and tripled its
client base, adding several new contracts with key customers such
as Nortel Networks.

"Today's announcement is good news for Whitehill and the City of
Moncton. The financing and strategic involvement of Latitude
Partners underscores our belief that Whitehill has the right
software solutions and management team to establish a strong
market leadership position in the XML space," said Paul McSpurren,
President and CEO of Whitehill Technologies. "We have had a
tremendous past year, with dramatic revenue growth and entering
several new markets, like the UK, for the first time. The
investment by Latitude gives us the resources needed to take the
company to the next level of development, and our location in
Moncton gives us the workforce and employment stability to focus
on making our goals, a reality."

"With an exceptional team and leading edge products that solve
real business issues for customers, we believe Whitehill is poised
to move confidently to the next level," said Kevin Clay of
Latitude. "We look forward to working with the company to continue
its track record of growth and profitability."

About Whitehill Technologies Inc.

Whitehill Technologies Inc. is a leading provider of Internet
Infrastructure Software for the capture and transformation of
legacy data into e-enabled business information. Whitehill
products enable companies of all sizes to deploy complete
E-Business solutions with unprecedented speed. More than 275
companies in 32 countries currently use Whitehill products as part
of their e-commerce strategy. Users of Whitehill Document
Transformation and E-Business Solutions rely on Whitehill to
significantly improve their back office processes and web enable
their legacy systems.
Whitehill Technologies provides software solutions, professional
services and technical support to customers around the world. More
information about Whitehill Technologies is available through the
company's web site located at www.whitehill.com.

About Latitude Partners

Based in Toronto, Latitude Partners
(http://www.latitudepartners.com) manages the Longitude Fund, a
specialized technology merchant-banking fund. Latitude also
provide financial advisory services in the areas of mergers and
acquisitions and private placements.


For further information, please contact:
Jim Laffoley, VP of Marketing and Business Development
Whitehill Technologies, Inc.
(506) 855-0005, ext. 253
jlaffoley@whitehill.com
1-888-944-8344
www.whitehill.com