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To: Jim Bishop who wrote (34089)	3/7/2000 10:57:00 AM
From: CIMA	Respond to of 150070

ITNI - Tuesday March 7, 10:21 am Eastern Time Company Press Release I-Transaction.net Inc., Announces Acquisition Of e-P@SS Canada Inc. For USD$2.2 Million HOLLYWOOD, Fla.--(BUSINESS WIRE)--March 7, 2000-- I-Transaction.net. Inc. (OTCBB: ITNI - news) announced today that it has acquired 100% of the common shares of e-P@ss(tm) Canada Inc.,(e-P@ss(tm)) a developer of web-based database and e-commerce solutions for total consideration of USD$2,200,000. The acquisition of the source code from of e-P@ss(tm) Canada Inc. will allow I-Transaction to further integrate its business process software with solid database management tools and telecommunications facilities and allow ITNI to license the software to an unlimited number of end-users as well as manage the transactional processing on the individual client sites. eP@ss(tm) allows organizations to communicate and share information in real time, and is a complete web-based business-to-business management system. By incorporating some or all of the eP@ss(tm) modules, a business is able to close the loop between information delivery, customer interaction, e-commerce transactions and inventory and office management. Because e-pass is a modularized set of products and software. Customers can order the entire suite of products or order products a la carte to compliment their present situation. eP@ss(tm) software users need only Netscape or Internet Explorer to access their data. Earlier this month ITNI announced its licensing agreement with e-P@ss(tm) Canada Inc., and has since been in negotiations with the management of its parent company to complete the acquisition. e-P@ss(tm) is not just another software product, it is a completely integrated system comprised of software modules, hardware components and advanced telecommunications facilities. It allows organizations to have access to critical client information and provide timely response to client requests. This product is ideal for companies who have front-end solutions, such as web sites, that need strong back end support infrastructure. David Bruce, Director, ITNI, said, ``The acquisition of e-P@ss(tm) will allow ITNI to penetrate the business to business and e-commerce markets with its cutting edge technology and its huge growth potential in the software industry.' ITNI develops and deploys business-to-business and consumer-to-business e-commerce solutions as well as offering electronic funds transfer, advertising, marketing and database support. The website is located at www.i-transaction.net -------------------------------------------------------------------------------- Contact: For Investor Relations Information Contact Either: The Bullen Capital Group Jody Bullen: (416) 917-0199 Keith Bullen: (416) 350-2794 Fax (416) 865-1249 or Chase Equity Group (416) 864-0808, 877/847-7719