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FOR: SOLIUM CAPITAL INC.
Solium Achieves Revenue Growth in 2001 CDNX SYMBOL: SUM MAY 24, 2002 CALGARY, ALBERTA--Solium Capital Inc. ("Solium") announced today its financial results for the year ended December 31, 2001. Revenue from continuing operations for the fiscal year 2001 increased by $172,000 to $196,000. This included $186,000 of corporate services revenue derived from fees generated from 15 corporate clients implemented throughout the year, of which 14 remained at year-end. One small client was lost due to its acquisition by a third party during the year. Amongst the clients added in 2001 were TransAlta Utilities Corp., Fording Inc., Microcell Telecommunications, and EXFO Electro-Optical Engineering Inc. The net loss for 2001 was $3.4 million compared to $2.4 million a year earlier. This change was mainly attributable to an increase in salaries and wages and to general and administrative expenses in corporate services (continuing operations) and to increased execution and clearing costs associated with the brokerage operations (discontinued operations). Subsequent to year-end, Solium Capital Online Inc., the Company's brokerage operations, was sold for net proceeds of $25,000 in cash. The expected loss on disposal of $39,000 was accrued for at December 31, 2001. Total net loss per share in 2001 was $0.31 per share as compared to $0.34 per share in 2000, an improvement of $0.03 per share. A full set of financial statements and notes, and a management discussion and analysis can be found on www.soliuminvestor.com. About Solium Capital Inc. (SUM - TSX Venture Exchange): Solium is an outsourced provider of solutions for employee share ownership entitlement programs. Solium's flagship application, e-SOAP, is a complete end-to-end solution for the administration, execution and reporting of employee stock options for Canadian public companies. -30 - FOR FURTHER INFORMATION PLEASE CONTACT:
Solium Capital Inc. The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
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