SOURCE: Caneum

February 13, 2006 07:30 ET

Caneum, Inc. Announces the Renewal of a One-Year Customer Support Agreement With Interwest Capital Corporation in the Financial Services Sector

Caneum Assists Financial Services Firm With Web Design and Support Services

NEWPORT BEACH, CA -- (MARKET WIRE) -- February 13, 2006 -- Caneum, Inc. (OTC BB: CANM) announced that it has renewed a one-year support agreement with Interwest Capital Corporation. The initial engagement was to develop Interwest's web presence and Caneum has been retained to provide ongoing Internet and web related support services.

"This is another Caneum customer in the Financial Services vertical. We have been especially focused on providing reliable, cost efficient and fast response times in IT and web related support services," commented Suki Mudan, President of Caneum.

"Caneum offers us resources that complement our experience and technical skills to develop solutions more efficiently and cost-effectively," said Alex Roudi, Chairman of Interwest Capital. "This relationship is based on the long term reliability and quick turnaround times afforded to us by Caneum's excellent offshore capabilities."

About Caneum Inc.:

Caneum Inc. is a global provider of business process and information technology outsourcing products and services across vertical industries including technology, energy, government, transportation, financial services, education and healthcare. The company provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, product development, product maintenance and customer support, and fulfills its services in-house, on-shore, near-shore and off-shore depending on the business goals and objectives of its global customers. In parallel, Caneum is opportunistically pursuing accretive acquisitions within its core outsourcing product and service suite in order to broaden its core capabilities, expand its customer base and supplement its organic growth. For more information, please visit the company's web site at http://www.caneum.com.

About Interwest Capital Corporation:

Interwest Capital Corporation is a privately held firm in San Diego. Transactions range from commercial mortgage and real estate acquisition. Pursuing opportunities created by the inherent inefficiencies of the commercial real estate and secondary mortgage markets, the experienced professionals of our firm have established themselves as key participants in the industry. Our unique range of expertise and resources including our strategic alliances with top operators across multiple asset classes as well as our long standing lending relationships allow us to purchase an unusually broad range of assets. Interwest prides itself on our ability to move quickly and to adapt to the requirements of our clients' unique and diverse situations. We seek to provide solutions for potential sellers in both the public and private sectors through our principal investments in credit-intensive assets and portfolios. Transactions range from value-added real estate acquisitions to the purchase of mortgage debt or bonds collateralized by non-institutional quality real estate. We specialize in assets which may have valuation issues, maturity risk, bankruptcy claims, litigation or other collateral impairment.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include but are not limited to the risk factors noted in the company's filings with the Securities & Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products and enhancements by competitors; the competitive nature of the markets for Caneum's services; Caneum's ability to gain market acceptance for its services and products; the company's ability to fund its operations; the company's ability to attract and retain skilled personnel; the company's reliance on third-party suppliers.

Contact Information

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