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FOR: SOLIUM CAPITAL INC. CDNX SYMBOL: SUM November 21, 2002 Solium Releases Third Quarter Results CALGARY, ALBERTA-Solium Capital Inc. ("Solium") today announced its financial results for the quarter ended September 30, 2002. Revenue from E-SOAP related services for the quarter ended September 30, 2002 was $120,000 compared to only $61,000 for the corresponding quarter in 2001. The Company ended the quarter with 11,250 active participants enrolled on the E-SOAP system. This represents growth of 80 per cent from the 6,252 enrolled as at September 30, 2001. During the third quarter of 2002, four new corporate clients, including EnCana Corporation and Molson Inc. were activated onto the E-SOAP system adding a total of over 4,500 new participants. Total expenses for the quarter totaled $537,000 compared to $798,000 in the second quarter of 2001. The decrease is mostly attributable to a reduced level of development activity as E-SOAP is now fully developed and commercial. Solium has been actively moving toward closing the acquisition and integration of Bitonic Solutions Inc. ("Bitonic"). It is estimated that the acquisition of Bitonic will close by December 15, 2002. The net loss from continuing operations for the third quarter of 2002 was $393,000, an improvement of $344,000 or 46 per cent from the loss in the third quarter of 2001. Solium's new partnerships with EnCana Corporation and Molson Inc. are evidence of the traction Solium has in the national marketplace. Solium's national distribution efforts will be supported by a new Toronto office, established in Q3 2002. The Company will continue to focus its energy in 2003 on becoming profitable. To view the full Third Quarter report please click here. This proposed private placement remains subject to Solium filing formal notice with the TSX Venture Exchange and receipt of regulatory approval. About Solium Capital Inc. (SUM-TSX Venture Exchange): Solium is an outsourced provider of solutions for employee share 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.
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Solium Capital Inc. The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.
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