[announce] OASIS Member News: XML Global Signs Letter of Intent

[Teresa Cheung <teresa.cheung@xmlglobal.com>]

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XML Global Signs Letter of Intent to Acquire the Intellectual
Property of VertaPort, Inc. Combined with a $5 Million Maximum
Equity Investment
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       XML Global Technology acquires significant new
  XML based e-Business products and a first phase $2 million
       capital injection to propel them forward in the
                expanding middleware sector.

New York, N.Y., July 8th, 2002 - XML Global Technologies, Inc. (OTC BB:
XMLG), a developer of XML middleware today announced that it has signed a
letter of intent to acquire all of the intellectual property of VertaPort
Inc. The letter of intent also provides for up to a $5 million equity
investment into XML Global by The Paradigm Group II, L.L.C., the controlling
shareholder of VertaPort, subject to certain conditions. Under the proposed
agreement, Paradigm would provide an immediate $2 million equity investment
upon closing of the transaction, scheduled for no later than August 15th,
2002. Sheldon Drobny, the Chairman of The Paradigm Group, would also join
the board of XML Global. Completion of the purchase of the Vertaport
intellectual property and the funding through Paradigm Group is subject to
the completion of due diligence, the execution of a definitive agreement and
other conditions customary in transactions of this nature.

"This is a very strategic move forward for XML Global," said Peter Shandro,
CEO of XML Global. "VertaPort's technology is complementary to XML Global's,
and VertaPort has customer validation in our market segment. The net result
of this transaction will be an extended, more versatile and robust product
range, as well as a strengthening of XML Global's balance sheet. With XML
Global enjoying both increasing revenues and a growing sales pipeline,"
continued Shandro, "Paradigm's strategic long term equity investment will
lay the foundation for the company's profitable and successful future".

"Today's funding environment is limited not so much by a lack of capital but
by a lack of exceptional and validated business opportunities, coupled with
experienced and talented management teams," explained Sheldon Drobny,
Chairman of Paradigm. "XML Global scores very highly on both points and with
the acquisition of VertaPort, combined with additional working capital
strength, we are confident XML Global will continue to build on its already
strong track record in the middleware sector and deliver long term
shareholder value."

The terms of the acquisition and funding agreement provide for XML Global to
issue 7 million common shares in exchange for 100% of the intellectual
property rights of VertaPort. Additionally, XML Global will issue 7 million
common share warrants exercisable at $0.50 and a further 2.5 million common
share warrants exercisable at $1.00 per share to complete the acquisition
transaction. The funding component of the transaction, as currently
proposed, provides for XML Global to issue to Paradigm or its designee, upon
closing of the transaction, $2 million of 8% Convertible Preferred Stock
plus 6 million warrants exercisable at $0.50 per share. The Convertible
Preferred Stock would convert at a price of no less than $0.20 per share and
no greater than $0.35 per share. As proposed, Paradigm would agree to a
further direct equity investment of $3 million scheduled for the first
quarter of 2003 at a discounted market price, but not to be less than $0.75
per share, subject to several conditions, including the requirement that the
market price of XML Global's common stock is at least $1.00 per share with
certain minimum trading volume. The purchasers would also be issued 3
million common share warrants exercisable at $1.00 per share upon completion
of the second stage investment.

"The acquisition of VertaPort fits nicely into XML Global's long term
strategic technology and business objectives," said Lawell Kiing, Chief
Technology Officer for XML Global. "We have worked hard over the last three
years to deliver the best middleware and data transformation tools possible
that our partners and customers are now using to solve their integration
initiatives. With the acquisition of VertaPort," continued Kiing, "we will
be able to accelerate our internal product development schedule and offer a
complete development environment for building integration solutions. This
will radically decrease the time required to complete e-Business integration
projects resulting in measurable ROI for our client's".

About The Paradigm Group
------------------------
The Paradigm Group II, LLC is a private investment firm, which originates,
structures and acts as a equity investor in growth capital financing,
priding itself on its value-added investment strategies, frequently
facilitating strategic relationships for its portfolio companies. These
financings include, but are not limited to, private or venture financing,
bridge loans, and public equity financing. The Paradigm Group has invested
over 100 million dollars of equity in approximately 70 corporate
transactions. In March 2001, the firm embarked upon funding the Paradigm
Millennium Fund. This fund will invest primarily in the public equity
markets and Paradigm will utilize its vast resources to aid in helping
portfolio companies achieve their personal financial goals. Paradigm
conducts its investment activities through its wealth of strategic investors
as well as its strategic relationships and it leverages these resources
through the diversity and experience of its partners. For more information
visit www.paradigmventure.com

About XML Global Technologies, Inc.
-----------------------------------
XML Global Technologies, Inc. is an XML middleware company focused on
providing a methodical approach to the adoption of XML-based solutions. The
Company's GoXML(tm) Transform product line provides an intuitive, modular
solution for integration of structured data. Its powerful transformation
engine links XML to traditional data formats, like relational and EDI. It
also transforms data between various XML dialects. Transformation solutions
developed with the XML Integration Workbench can be deployed to GoXML
Transform Enterprise Edition for centralized management and connectivity to
integration platforms, message queues, and workflow engines. Interfaces for
Web Services and ebXML allow it to plug into popular e-business
infrastructures.

The Company is an active member of the ebXML, UDDI, OAG, W3C and OASIS
standards initiatives. Founded in May 1999, XML Global has its US
headquarters in New York, NY, and a research and development office in
Vancouver, BC. To find out more about XML Global Technologies (OTCBB: XMLG),
visit our website at www.xmlglobal.com

PR Contact Information
Contact	Anthony Dutton - XML Global Technologies, Inc.
		Director of Corporate Communications
Phone		1-604-717-1100 ext.112
		1-800-201-1848 ext.112
Email		anthony.dutton@xmlglobal.com
Web		www.xmlglobal.com