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, Inc. Appoints
Malcolm Coster as President and Interim CEO

Leading Provider of Network and Application Acceleration Technology Augments
Executive Management Team to Advance Company’s Growth


NEW YORK, NY (August 18, 2003) – WARP Technology Holdings, Inc. (OTC BB: WRPT), a leading provider of network and application acceleration technology solutions, today announced that Malcolm Coster, a WARP board member and a significant investor in the company, has been appointed as interim CEO and President replacing Karl Douglas, who has resigned for personal reasons. In connection with this appointment, Mr. Coster will also assume the role of Chairman of the Board of Directors.

Mr. Coster has over 35 years of executive and senior management level experience. He is a former President of Unisys-Europe and has held executive and board level positions with British Petroleum, Coopers and Lybrand, MTL Instruments Group and British Technology Group. Mr. Coster graduated with special honors from Kings College, University of London.

“With recent, rapid adaptation of our network and application acceleration technology solutions, WARP has reached a critical milestone and the company is preparing for the next stage of growth,” said Karl Douglas, who will continue to serve as a director and an advisor to the company. “We are opening up the executive management team to enable the company to capitalize on its early successes worldwide.”

“Malcolm’s vast experience in strategic alliances and global business development is of particular significance and importance at this phase of WARP’s evolution,” commented Dr. David Milch, WARP’s Executive Director, Office of the Chairman. “We are pleased to have his level of expertise available to help the entire WARP team accelerate the company’s strategic plan and technology leadership, and move our company to the next level.”

 

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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