May 02, 2006 08:27 ET

Metropolis Technology Corp. Announces Subsidiary CyberGlobe Has Entered Into a Memorandum of Understanding With SURPOST to Create a Network of City Portals in Suriname

PORT OF SPAIN, TRINIDAD AND TOBAGO -- (MARKET WIRE) -- May 2, 2006 -- Metropolis Technologies Corp. (OTC: MTPT) announced today that its subsidiary, CyberGlobe International Holdings AVV Limited, has signed a Memorandum of Understanding with SURPOST (the Postal Agency in Suriname) for the joint development of an interconnected city portal network.

Michael Smith, President, stated, "This quasi private/public sector initiative will yield enormous benefits to the citizens of Suriname. SURPOST (a Crown Corporation) will initially launch the first city portal in the capital city, Paramaribo. The goal of the joint venture is to establish a portal in every market that SURPOST presently serves.

"SURPOST chose to work with the CyberGlobe and its technology because of its ease of use, and self management capabilities. This portal will deliver real-time information about government services, tourism and cultural information to its local client base, and its growing visitor base, with particular emphasis on ecotourism.

"The fact that a Crown Corporation is utilizing our software is yet another testimony that both the public and private sectors are keenly interested in creating interconnected electronic communities. We are extremely excited about the possibilities that this joint venture will create. These electronic communities provide a way of sharing information about Suriname with its citizens, expatriate community and the world at large. CyberGlobe and SURPOST will share revenues on a transaction basis for all joint venture activities.

"eCommerce transactions are a way of life in the G-8 countries, often developing countries like Suriname do not have a way of joining the eCommerce revolution. The CyberGlobe business model allows all organizations large and small to sell their goods and services online. SURPOST provides both international wire transfer services, and internet café's throughout the region, and the combination of CyberGlobe's software and SURPOST's infrastructure is a very important strategic relationship."

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.

About CyberGlobe International Holdings AVV

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.

This announcement contains forward-looking statements regarding Metropolis Technologies Corp. and CyberGlobe International Holdings AVV. 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 the future growth of CyberGlobe's user base and public acceptance of Internet services, rapid technological changes in the Internet sector, global developments in the regulation of Internet services. 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.