Handshake Interactive On Track to Deliver Virtual Touch in Real Time

    KITCHENER, Ontario--March 6, 2002--Handshake Interactive Technologies Inc., a University of Waterloo spin-off providing proprietary "virtual touch" technology, is pleased to announce the opening of its new corporate headquarters, its selection for the Toronto Venture Fair, and the appointment of Keith Ainsworth as Chairman of the Board, as well as the addition of Gord Agnew and Vince Schiralli to the Advisory Board. These milestones mark the successful start to Handshake's plan of becoming the world's most advanced virtual touch technology provider.
    The company has recently re-located from a 1,000 square foot office in Waterloo, to a 3,800 square foot facility in the Galleria buildings, located at 40 Weber Street East in Kitchener, Ontario. This location has been home to several other successful technology companies in the past and present, including RIM and AdExact.
    "We are very enthusiastic about our recent move," said Tim Ellis, Handshake's VP of Corporate Development. "This is the first of several strategic steps to ensure the successful launch of our technology into several targeted markets, starting with online electronic games."
    Demonstrating the upside potential of Handshake's technology, the company is one of only two companies from the Waterloo region to be accepted by the Toronto Venture Group to present at the upcoming Toronto Venture Fair. This event will give Handshake exposure to a large investor audience, as investors from all over North America attend the Toronto Venture Fair.
    Strengthening the company's senior team, Handshake recently named Keith Ainsworth, President and CEO of COM DEV International, as Chairman of Handshake's Board of Directors.
    "We are very honoured to have the opportunity to work with Mr. Ainsworth," said David Wang, President of Handshake. "He brings extensive industry experience and strong leadership to our Board of Directors."
    The company has also added senior sales and marketing executive Vince Schiralli to its Advisory Board, as well as Gord Agnew to the Technical Advisory Board. In addition to spending over 25 years as a valuable member of IBM's sales and marketing team, Mr. Schiralli is the founding CEO of Communitech, Waterloo Region's non-profit technology association that brings together entrepreneurs with the Investment community. Dr. Agnew is a co-founder of Certicom, a leading provider of information security software and services.
    "Mr. Schiralli has the expertise we need to help us develop and launch our sales and marketing plan in the on line electronic games market," said David Wang. "And Dr. Agnew has the outstanding management and technical skills, particularly with respect to security issues, we need to assist us in launching our technology."
    To this point, Handshake has achieved or exceeded every corporate milestone set in July 2001, and is on target to deliver working prototypes of its real time virtual touch solution for on line games by 2003.

    About Handshake Interactive Technologies Inc.

    ( www.handshakeinteractive.com)

    Handshake Interactive Technologies Inc. is a successful spin-off company from the University of Waterloo that provides proprietary, virtual-touch technology. Developed by a team of expert mechanical and computer electronics engineers, Handshake's technology is the world's first low-cost, high-performance virtual-touch solution with real time and on line capabilities. It allows any user from any location to touch virtual objects in a computer-generated environment and / or enables the touch of remote objects over a communications network. Handshake's technology has the potential for significant impact on the on line games, automotive, military and tele-medicine industries. The company intends to enter its first vertical, the $5 billion global on line games market, by 2003.

    CONTACT: Handshake Interactive Technologies Inc.
             Tim Ellis, 519/747-3969 ext.100
Email Contact

    SOURCE:  Handshake Interactive Technologies Inc.

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