Cenit Corporation

Cenit Corporation

March 22, 2005 09:48 ET

Cenit Corporation Announces Intent to Acquire Dijoto Inc.


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CENIT CORPORATION

TSX VENTURE SYMBOL: CNT

MARCH 22, 2005 - 09:48 ET

Cenit Corporation Announces Intent to Acquire Dijoto
Inc.

TORONTO, ONTARIO--(CCNMatthews - March 22, 2005) - Cenit Corporation
(the "Company") (TSX VENTURE:CNT) is pleased to announce that it has
entered into a Letter of Intent to acquire a majority interest in Dijoto
Inc. ("Dijoto"); a privately owned electronic payment transaction
management company.

Dijoto's unique proprietary transaction management system provides a
comprehensive software based software transaction solution for Point of
Sale terminals, video arcade installations and other multiple E Commerce
applications. Additionally the software is a solution that provides
payment, collection and reporting services to all sectors especially
those which rely on royalty or revenue splitting.

"The Dijoto system, is currently in use by commercial clients and is
poised for expansion through its relationship with Cenit Corporation.
The Dijoto system not only automatically directs the flow of funds
associated with an electronic payment, but provides real time reporting
and audit functions as well. Dijoto represents an opportunity for us to
assume a leading position in the large and growing electronic
transaction management business." said Birks Bovaird President and CEO.

About Cenit Corporation

The Company is currently assessing a number of potential acquisition
opportunities in the point of sale and automated teller machine areas
and operates two subsidiary companies; Continental Asset Management Inc.
(CAM) and Health Promotions Strategies Inc. (HPSI).

CAM operates white label Automated Teller and Point of Sale Machines and
is a preferred supplier of Ingenico Canada Ltd.; a wholly owned
subsidiary of one of the world's largest manufacturers of debit and
credit point of sale systems hardware.

Share Price: $0.32 (Mar 21, 2005)

Shares Outstanding: 12,810,594

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Cenit Corporation
    Birks Bovaird
    President
    1-416-214-9152
    www.cenitcorp.com
    "The TSX Venture Exchange does not accept responsibility for the
    adequacy or accuracy of this release"