Cenit Corporation

Cenit Corporation

March 13, 2008 17:20 ET

Cenit Proposes Private Placement

TORONTO, ONTARIO--(Marketwire - March 13, 2008) - Cenit Corporation (TSX VENTURE:CNT)(PINK SHEETS:CNTGF) ("Cenit" or the "Company") announces that it intends to complete a private placement of convertible debentures in the principal amount of 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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