[announce] OASIS Member News: XML Global Technologies Closes $2Million Equity Investment

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

Press Release
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 XML Global Technologies Closes $2 Million Equity Investment 
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    XML Global Technologies closes a $2 million financing 
             to accelerate growth in the rapidly           
           expanding e-Business integration market.

New York, N.Y., August 23rd, 2002 - XML Global Technologies, Inc. 
(OTC BB: XMLG), a developer of XML-based middleware today 
announced that it has closed a $2 million equity investment 
with a Paradigm Group, LLC fund.

"I am very pleased to have completed this financing with a 
Paradigm Group, LLC fund," said Peter Shandro, CEO of XML Global. 
"XML Global has gained a valuable financial partner with a long 
and successful history in building stockholder wealth. Their 
financial commitment," continued Shandro, "will give XML Global 
balance sheet strength allowing us to accelerate the expansion of 
our sales organization, to increase the market awareness of XML 
Global and its products and to position ourselves as a market 
leader for XML based e-Business integration solutions."

Pursuant to the agreement, a Paradigm Group, LLC fund will 
make a $2 million cash investment into XML Global, comprised of 
an immediate $1 million investment with the balance payable 
upon completion of certain matters, but in no event later than 
September 30th, 2002. In exchange for the $2 million equity 
investment, Paradigm will be issued a total of 10,000,000 shares 
of common stock, priced at $0.20 per share, plus 6 million common
share warrants exercisable at $0.50 per share. The Company has 
the right to call the warrants any time after the Company's 
common shares have traded at or above an average twenty-day 
trading price of $1.00 and a minimum trading volume stipulation. 
The warrants, if fully exercised, could represent additional 
proceeds of $3 million to bring the financing total to $5 million. 
In reference to the news release of July 8th, 2002, both parties 
have agreed to defer consideration of the remaining balance of 
the previously announced financing in light of the company's 
future requirements. 

Concurrently with completing the financing, XML Global signed 
a definitive agreement to purchase the intellectual property 
and related assets of Vertaport, Inc., another portfolio 
company of the Paradigm Group. Vertaport has developed a 
proprietary XML switch that could be integrated with XML Global's 
other product offerings. XML Global acquired the IP in 
consideration of seven million shares of common stock, seven 
million warrants exercisable at $.50 per share and 2.5 million 
warrants exercisable at $1.00 per share. XML Global has 
agreed to deliver one-half of the agreed acquisition 
consideration immediately,  with the balance to be issued 
by September 30th, 2002 pending the completion of certain matters.

"In spite of an uncertain economy XML Global has continued 
to strengthen their position in the e-Business integration 
and XML based middleware sector," stated Sheldon Drobny, 
Chairman of Paradigm. "They have leading product technology, 
a growing client base and a strong partnership program all 
coupled with an experienced and talented management team. 
On all levels XML Global meets our strict investment criteria, 
"continued Drobny, "and we are looking forward to a long and 
profitable partnership focused on delivering superior products, 
satisfied clients and enhanced shareholder value."

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