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 Solutions Continues Growth Initiatives with Key
Customer Wins and Partner Alliances

Recent Shift Toward “Software-Only” Business Model Instrumental
in Company’s Worldwide Market Opportunities

NEW YORK (May 12, 2004) – WARP Technology Holdings, Inc. (OTC BB: WRPT), a leading provider of network and application acceleration software, today announced that the recent shift to its software-only business model has been instrumental in the company’s customer wins and growth initiatives. Since January of 2004, WARP has added several customers, including Virgin Megastores, Education Networks of America (ENA), Holiday Autos, lastminute.com, Forbes.com, TrailFinders, and GM.TV.

“In the past few months we have successfully changed the strategic direction of the company, and as a result, more business development opportunities are opening up in North America as well as Europe and Asia,” explained Gus Bottazzi, President and CEO at WARP. “We are seeing strong interest in the education, online retail, and telecommunications industries, and are working with our strategic partners to further expand the market opportunities for both the SpiderCache and DataReactor product lines.”

Last month, WARP launched a new version of its flagship SpiderCache software. The new SpiderCache Enterprise v4 is one of several new WARP products that represent the company’s shift in product strategy, focused on developing software and software-based appliances – all designed to accelerate business-critical applications and content delivered over IP-based networks.

“With SpiderCache, we have seen a significant increase in the performance of our Web site and overall user experience,” said Michael Smith, Chief Technology Officer of Forbes.com. “Since the deployment, the Forbes.com site has slashed the time to deliver dynamic content substantially, and is well-equipped to manage traffic spikes that occur during peak periods."

Consistent with the customer wins, WARP’s channel partners, particularly in Europe and Asia, are benefiting from the new software-based model. NeoFrame, WARP’s South Korean reseller, has recently implemented SpiderCache at SK Telecom, a leading mobile telecommunications provider. WARP’s strategic partner in Japan, Macnica Networks, is also optimistic about the new SpiderCache product line, working with several prospective customers in the online travel and telecommunications niches. Estafet, a WARP partner in the UK has been instrumental in securing several key clients in Europe. In these installs, the reseller estimates that WARP’s products have saved hundreds of thousands of pounds in infrastructure and bandwidth costs, while providing the capability to improve Web site performance and reliability. “With SpiderCache, we have seen a dramatic increase in the speed and capacity of Internet and Intranet applications,” explained Adrian Wright, Estafet's Managing Director. “The technology allows us to offer customers a cost-effective solution to manage their growing Web-based applications and content that is critical to their business.”

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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