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 $2.6 Million in Series B Funding

NEW YORK (November 5, 2003) – WARP Technology Holdings, Inc. (OTC BB: WRPT), a leading provider of network and application acceleration technology solutions, today announced that it has received $2.6 million in equity financing from institutional and accredited investors. WARP plans to use the new operating capital to expand its strategic sales and channel development efforts worldwide. The Griffin Private Equity Group of Griffin Securities, Inc. served as the placement agent for the transaction.

“This round of financing reaffirms WARP’s technology leadership and position in the marketplace, and will help throttle up the company’s growth strategy aimed at delivering a range of cost-effective solutions that improve the speed and capacity of Web-based applications and content,” explained Malcolm Coster, WARP’s President, Chairman of the Board of Directors, and CEO.

Full details of the terms and conditions of the Series B Preferred stock, together with related documents, can be found by referring to WARP’s Form 10QSB for the period ending September 30, 2003, which will be filed by WARP with the Securities and Exchange Commission on or about November 14, 2003.

Organization of all sizes are using WARP SpiderCache software and the WARP 2063 and WARP 2063e appliances to dramatically improve network and server performance, and enable distributed application acceleration on a global scale. The company recently announced that Lastminute.com, Europe’s largest online travel site, deployed WARP’s technology and has significantly improved their Web site operations realizing a 400 percent performance gain, and decreasing average query response times from twelve seconds to less than three seconds.

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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