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 Holdings Closes $1 Million Equity Financing;
Funds Leveraged to Scale Channel Partner Program

NEW YORK (July 23, 2003) – WARP Technology Holdings, Inc. (OTC BB: WRPT), a leading provider of network and application acceleration technology solutions, today announced the closing of a new tranche of $1 Million equity financing. The funding was provided by institutional investors. The funding provides new operating capital to continue WARP’s strategic sales and channel development efforts as the company approaches cash flow positive performance.

In the last six months, WARP has launched an aggressive channel development program and recruited new sales and channel development personnel. As a result, sixty percent of the company’s orders for last quarter came from channel partners, and WARP expects that number to increase.

“ We are seeing early success from our new channel strategy, especially in Europe where companies like Estafet Ltd. continue to close significant deals,” explained Karl Douglas, WARP’s President and CEO. “Channel partners and value added resellers are the most important aspect of our go-to market strategy. With margins being squeezed on status quo offerings such as servers and switches, we believe our application acceleration products offer higher value solutions that address key bottlenecks in the internet infrastructure.”

According to Gus Bottazzi, WARP’s Vice President, Global Sales and Marketing, WARP has seen tremendous interest from its channel partners in Europe and Asia, and plans on replicating this success in the United States. “The market opportunity here in the U.S. is significant, and we believe our product line offers a broad range of solutions that will enable our channel partners to be successful,” he said. “The new investment enables us to increase our channel presence in the U.S. and develop the necessary support infrastructure to attract world class partners.”

WARP recently announced the availability of the WARP 2063e, a non-intrusive appliance that sits at the network’s edge to off-load high-volume traffic and serves end-user requests from the closest node resource. Taking traditional content delivery networks (CDNs) to the next level, the WARP 2063e enables the implementation of an Application Delivery Network (ADN) to distribute ERP, supply chain, financial, CRM, and other strategic, Web-based business applications from the edge of a network. Additionally, the company also announced enhancements to its WARP DataReactor and WARP SpiderCache software solutions.

The WARP 2063e and WARP 2063 appliances, along with WARP Spider Software, and WARP DataReactor, are part of the company’s GTEN (Global Transaction Enabled Network) architecture, which includes a series of hardware and software products to significantly improve network and server performance, and enable distributed application acceleration on a global scale.

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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