Cenit Corporation

Cenit Corporation

April 18, 2008 17:39 ET

Cenit Corporation: Private Placement Update

TORONTO, ONTARIO--(Marketwire - April 18, 2008) - Cenit Corporation ("Cenit" or the "Company") (TSX VENTURE:CNT)(PINK SHEETS:CNTGF) is pleased to announce that it is continuing to raise funds pursuant to its previously announced private placement of convertible debentures. Cenit has raised an aggregate of $190,000 and has requested an extension from the TSX Venture Exchange to file final documentation in order to complete the financing. The Company anticipates that this financing will close in the next two weeks.

The principal amount of the convertible debentures is up to $500,000 bearing interest at 8% per annum and maturing 24 months after the date of issuance. Principal of the debentures will be convertible at a conversion price of $0.15 per common share of the Company.

About Cenit Corp.

Cenit Corporation is a Canadian holding company which operates three subsidiaries in diverse market niches: Blue Port Technologies Inc. (BP), Continental Asset Management Inc. (CAM) and Health Promotions Strategies Inc. (HPSI). BP is a software development and recruiting services company, CAM is a vendor of Point of Sale systems and HPSI is a registered gaming supplier. Cenit is continually investigating strategic alternatives to enhance shareholder value.

Shares Outstanding (Non-Diluted): 23,876,327

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