For Immediate Release:

STRONG MARKET DEMAND EXISTS FOR NEW SOFTWARE ARCHITECTURE TO
IMPROVE PERFORMANCE OF INTERNET APPLICATIONS

NEW YORK, NY - October 17, 2000 -- Strong market demand exists for a new generation of software that dramatically improves the performance, efficiency and functionality of Internet applications for ISPs, ASPs, hosting firms, telephony and Fortune 1000 companies, according to a recent statistically-relevant survey of U.S. companies with 150+ Web-based servers.

The survey, commissioned by WARP Solutions, involved detailed telephone interviewing of CTO's, CIO's, and Web architects of leading ISPs, ASPs, Telephony, and Fortune 1000 companies, culled from 1,600 contacts. According to the survey, performance outweighs brand name, functionality, price and ease of use combined when it comes to choosing a network technology solution.

"The survey results point to a trend in Internet performance that current products do not address - - the critical,overlooked area of Internet performance; integrated optimization across the web server, application server and data server layers," said Karl Douglas, CEO, WARP Solutions Inc.

WARP, the provider of intelligent technology for Internet performance, has created the technology for the only comprehensive suite of interoperable software solutions, addressing the full range of factors that are critical to excellence in Internet infrastructure performance. WARP's suite of software products will include dynamic content distribution, load balancing, cache and security.

Highlights of the survey include:

• Nearly 70% of those technology executives surveyed, expressed a strong willingness to purchase a new generation of software. Of those indicating a strong willingness, the likelihood of purchasing
  WARP's suite rose from 73% to 85% depending on the products.
  
• Approximately 60% of IT executives surveyed indicated that they either preferred software solutions to conventional hardware or they had no preference . Of those, an overwhelming plurality of respondents, almost three times the nearest response, chose performance over price, function, ease of use and customer support. The survey also shows a very sizable pocket of residual dissatisfaction exists in the market place .
• Lower satisfaction levels expressed by executives ranged from 25% to 40% for current loading, global balancing, cache, content management and security.

About WARP Technology Holdings, Inc.

WARP Technology Holdings (OTC BB: WRPT) is a leading provider of network and application acceleration technology solutions. Through its subsidiaries WARP Solutions, Inc. and SpiderSoftware, Inc., and its licensing arrangement with iMimic Networking, Inc., the company offers a strategic portfolio of software and hardware solutions to significantly improve the speed, performance, and reliability of business-critical applications and content delivered over IP-based networks. For information, contact 877-688-9277.

Cautionary Statement

Statements contained herein which are not historical information are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties. Actual results could differ materially from those included in the forward-looking statements for a variety of reasons, including the level of acceptance of the WARP 2063e product by the marketplace, the ability of the product to achieve the results for which it is designed, the ability of the company to raise capital to fund operations and marketing programs for this product, competition from other approaches to application acceleration and network architecture, and other risks described in the Company’s filings with the Securities and Exchange Commission. These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.