SOURCE: Metropolis Technologies Corp.

March 28, 2006 11:09 ET

Metropolis Appoints Eric Phillips to the Board of Directors

PORT OF SPAIN, TRINIDAD -- (MARKET WIRE) -- March 28, 2006 -- Metropolis Technologies Corp. (OTC: MTPT) announced today that Eric Phillips has been appointed to the Board of Directors.

Harvey Naarendorp, Chairman of Metropolis Technologies Corp. stated, "We are pleased to have Eric Phillips join Metropolis' Board of Directors. His addition is an important step in building a strong and diverse board." Eric Phillips, a 1990-91 White House Fellow, is an experienced International Businessman and Consultant. He is the Founder of The esseQuibo Group, a Consultancy and Strategic Planning firm focused on developing countries and their appropriate use of new technologies in development. The esseQuibo Group operates in Africa, the Caribbean and North America. Mr. Phillips has spent a significant amount of time on infrastructure projects in Africa, Asia and South America and has evaluated over 250 projects in 46 countries.

Mr. Phillips was a 1990-1991 White House Fellow during the Bush Administration, where he was a Special Assistant to the Administrator of USAID. Eric has lived and worked in seven countries including his country of birth, Guyana, for which he has co-written their economic development blueprint in a document entitled, Guyana 21.

Mr. Phillips received an MBA in International Business and Marketing from New York University and a Bachelor of Science in Chemical Engineering. In telecommunications, Eric has been the Managing Director for AT&T in Africa and The Middle East, Vice President of AT&T Network Systems (now Lucent), the Managing Director for AT&T Central Europe and the Deputy Director for Globalization in Europe. As a result of his expertise in Satellite systems, he was commissioned by Merrill Lynch UK to produce a report on the topic in 1997.

"We believe Mr. Phillips will be an invaluable resource in the deployment of Metropolis' technology throughout the Caribbean region," commented Michael Smith, President of Metropolis Technologies Corp.

Metropolis also announced that it has completed the acquisition of the outstanding shares of privately held CyberGlobe in an all stock transaction valued at $2.5 million USD. The shares are issued with a restrictive legend under Rule 144 and cannot be traded without the filing of a registration statement or a qualified exemption. The acquisition brings the total amount of issued and outstanding shares to approximately 48 million common shares.

CyberGlobe International, a subsidiary of Metropolis is deploying city portals throughout the Caribbean. The first portal will be launched on April 21st in Port of Spain, Trinidad.

About Metropolis Technologies Corp.

Metropolis has a vision of improving the way individuals, businesses and governments communicate, create partnerships, develop revenue generating activities, and grow within a community. Our mission is to innovate, bringing people and ideas together to deliver better products, innovative services and unique business opportunities to a global marketplace.

Metropolis Technologies Corp. creates and distributes software products designed exclusively for the Internet that are then sold or licensed to customers. Metropolis' flagship Content Management Software enables all content owners to populate websites, Internet, and Intranet without the assistance of technical personnel.

About CyberGlobe International Holdings AVV Limited

CyberGlobe is pioneering communities built on commerce, sustained by trust, and inspired by opportunity. CyberGlobe enables e-commerce on a local, national and international basis with an array of interconnected portals. CyberGlobe will become a premier provider of local information in the markets that its Portals serve on topics ranging from restaurants and shopping to travel and professional services. CyberGlobe's business is enabling those with the information to manage it, use it, share it, and act on it without the need for outside resources. While each portal is city-based, CyberGlobe portals, unlike other websites, are part of a networked information eco-system that grows organically and is constantly evolving. The scope of the Portal Network allows for simultaneous, real-time commerce at local, regional and national levels. CyberGlobe's Portal Network will be the primary distribution channel through which the multifaceted software applications are delivered to customers.

This announcement contains forward-looking statements regarding Metropolis Technologies Corp. and the expected impact of the acquisition of CyberGlobe International Holdings AVV Limited. Those statements involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, the timing of the closing of the transaction, the possibility that the transaction may not close, the reaction of the users of CyberGlobe's services, the future growth of CyberGlobe's user base and public acceptance of Internet services, rapid technological changes in the Internet sector, the reaction of competitors to the transaction, global developments in the regulation of Internet services. The possibility that integration of CyberGlobe's offerings following the transaction may be more difficult than expected, and the possibility that entry by CyberGlobe and Metropolis Technologies Inc. into potential new lines of business will not be successful. All forward-looking statements are based on information available to Metropolis Technologies Corp. on the date hereof, and Metropolis Technologies Corp. assumes no obligation to update such statements.

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