Company Contact:
Michael Liss
WARP Technology Holdings, Inc.
610-715-5656
mliss@warpsolutions.com
 Public Relations Contact:
Domenick Cilea
Springboard Public Relations
732-863-1900 x.102
dcilea@SpringboardPR.com

For Immediate Release:

WARP Technology Expands Executive Team to Drive Growth Initiatives in Europe

NEW YORK (Nov. 1, 2002) -WARP Technology Holdings, Inc. (OTC BB: WRPT), a leading provider of Internet application acceleration solutions, reaffirmed its commitment to the European market today with the hiring of Michael Powell. Mr. Powell will serve as WARP's Vice President of Sales for Europe, directing all sales and marketing initiatives for WARP in the region.

With the addition of Mr. Powell to its executive team, WARP is well-positioned to drive its business operations in Europe, and further expand its distribution partnerships and strategic alliances. The company already has established relationships with leading organizations and service providers in the region, including Cable & Wireless and NTT Verio.

According to Jupiter Research, Europe's Internet population is expected to reach more than 200 million users by 2007. A recent report by NetsEdge Research Group indicates an increase in European demand for data center infrastructure technologies. These factors should reinforce the need for WARP's GTEN (Global Transaction Enabled Network) architecture, which will provide a strategic platform to deliver application acceleration, and speed the delivery of dynamic content and transaction processing over the Internet.

WARP's GTEN framework should enable enterprise organizations and service providers to improve the performance of real-time, data-driven applications, including complex ERP, supply chain management, CRM solutions, and other business-critical transaction processing systems deployed across IP-based networks, as well as wireless, streaming media, and voice-and video-over-IP applications.

"Europe represents an exciting growth market for WARP. My first initiative will be to build a sales team; we're looking for the best talent in the industry to help drive growth in this highly receptive market," said Mr. Powell. "Our focus will be to increase WARP's presence throughout the region, and further position its powerful technology suite to help organizations of all sizes effectively address the rapidly increasing demand for dynamic content requests and high-volume transaction processing online."

Mr. Powell has built a career in achieving profitability and driving growth for global technology companies. Most recently, Mr. Powell was the CEO of Braxxon Technology, Ltd. (UK). Previously, he served as Deputy Chief Executive at OSI Group, where he increased profits by more than 300%, and led the sale of the division to FI Group. Mr. Powell has also held management roles at Digital, Oracle, and IBM, and spent nine years as a senior partner at Coopers and Lybrand (taken over by PriceWaterhouseCoopers, which is now IBM BCS). In each position, he was instrumental in transforming struggling business units into profit-generating entities that consistently exceeded sales and growth targets. Mr. Powell was educated at Oxford in England, and at Cornell University in the US.

"WARP is committed to growing our business operations on an international scale. By strengthening our European operations, WARP reinforces its commitment to its partners in the region," said Karl Douglas, President and CEO of WARP Technology. "Mike Powell will play a key role in facilitating our growth throughout Europe. He has a proven history of success in this area, and we are pleased to welcome him to the WARP team."

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.



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