Globetech Ventures CEO Featured in CEOcast.com Financial Interview


VANCOUVER, British Columbia, Feb. 9, 2001 (PRIMEZONE) -- Globetech Ventures Corp. (OTCBB:GTVCF), developers of world-class Website and e-mail language translation technology, announced today that the company's president and CEO, Dilbagh Gujral, was interviewed yesterday by CEOcast.com about the current activities of his company and its latest venture, TranslationWave. The contents of the online interview, both audio and text, are currently accessible at CEOcast.com's financial information Website at www.ceocast.com.

"Our purpose is to bring down the language barriers on the Internet," says Gujral in the interview. "Presently 96% of all e-commerce is conducted in English and 80% of all Websites are available only in English. This is an extremely significant problem because roughly 70% of all PC users are non-English speaking. This group also makes up the fastest-growing segment of new Internet users. For example, in India, China, Taiwan and Korea, the Internet populations are growing at tremendous levels, though many businesses are denying these millions of potential new online customers with their English-only Websites. Our product, TranslationWave, brings these businesses and customers together -- in real time -- to conduct commerce as a global community without any language barriers."

Globetech's state-of-the-art communications service is by far the most advanced and comprehensive solution of its kind, with the ability to connect the world with the touch of a button. TranslationWave (www.translationwave.com) can translate everything from Website content, documents, forms and archives to words, phrases and e-mail messages, in either real-time or delayed formats. Globetech Ventures has now made it possible for companies around the world to communicate and therefore conduct business more easily; no matter what language they speak. This is truly revolutionary because TranslationWave can give those companies the ability to operate worldwide, which is a tremendously valuable competitive advantage in today's ever-expanding global marketplace.

"A key to our present and future success is that we have locations in both the Western and developing worlds for the ongoing development of our TranslationWave software technology. Our additional offices in India provide us with a cache of highly trained IT workers who are at the forefront of the developing Internet markets. A major component for our development is the 10-hour time difference we gain. We basically get an 18-20 hour work cycle through both of our offices each day. Our India branch passes on the work they have completed at the end of their day and our North American developers pick up where they left off first thing in the morning," adds Gujral.

Over 200 million future Internet users from China, India, Japan and Taiwan are expected to be online by 2003, creating what International Data Corp. (IDC) estimates to be a $378 million market for the translation of online text. The recent entry into this market sector by such well known names as IBM (NYSE:IBM) has done much to highlight its enormity.

About CEOcast

CEOcast is an online source for original and syndicated streaming broadcast interviews of Chief Executive Officers at public and private news-making companies. Organized by industry, its analysts average more than 15 years experience covering and evaluating Wall Street's leading companies. CEOcast's programming is distributed to millions of online investors at more than 700 financial Websites as well as to more than 20,000 portfolio managers, buy-side analysts and traders at more than 3,300 North American institutions. Content is also disseminated to more than 7,000 investment research professionals representing more than 425 institutions.

About TranslationWave.com

TranslationWave is a leading translation application service provider (ASP) that converts the Internet into a truly universal platform of communication. This is done through three key products that are offered by TranslationWave: Web site translation; E-Mail translation; and Universal translation icon (Interprenet).

The first two products are created specifically for existing Websites to upgrade their current capabilities. The third product, which is set to launch in the second quarter of 2001, is for individuals who surf the Internet. Interprenet allows for surfers to translate any page they are on instantly into their desired language. If for example, an English-speaking user lands on a page that is in German, the Interprenet icon is used from the Internet browser bar to convert the page into English; it is a virtual universal translator that accompanies the user's every move.

The actual TranslationWave Website is a platform that demonstrates the products offered by the company. It shows the capabilities that the technology offers for clients who recognize the competitive advantage of state-of-the-art translation solutions. TranslationWave is an ASP that will capture this huge untapped market and make the Internet a truly global marketplace. Globetech's business solution packages offer the smallest to the largest Websites, from small businesses to corporations, the capability to increase exposure to users who don't speak the language their Website is constructed in. Additionally, TranslationWave can create internal e-mail systems with translation capability. The system is perfect for multinational corporations that need to communicate with global offices or for businesses that just need to send and receive e-mails translated to and from various languages.

TranslationWave provides a dynamic online venue that offers a complete package of services including chat room capabilities, e-mail, phrase, document and web site translation. TranslationWave currently provides translation to and from English, Spanish, Portuguese, Italian, Japanese, German, Korean, Chinese, Russian and French (with Arabic and Dutch soon to be added). E-mail, chat and keyboard practice applications also support communication in a total of 38 international languages. The end result is simple; in striving to gain as much exposure as possible, it is important not to overlook the potential of non-English speaking markets.

For further information, please visit the company's Website at www.globetechventures.net or contact Alan Brown, Vice President - Marketing at our head office at 1-800-298-0244.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words `believes,' `expects,' `anticipates' or similar expression. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Globetech Ventures Corp., (the Company) to differ materially from those expressed or implied by such forward-looking statements. (Such factors include, among others, the risk factors contained in the Company's Annual Reports and other filings with the Securities and Exchange Commission.) In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof. Merger Communications (Merger) is a media relations firm employed by the Company. Merger and the Company believe that all information in this release has been obtained from sources considered reliable, but cannot guarantee that the statements presented herein are accurate or complete. According to the short-term agreement between Merger and the Company, Merger's compensation for its financial media relations services, which includes the preparation and distribution of press releases, consists of three thousand dollars per month. Merger has also received five thousand free trading shares of the Company's common stock. Merger, its officers and employees currently own three thousand shares of the Company's stock. Merger typically has a long position in the securities of the companies in which it publishes information, and Merger may be buying or selling securities in the course of its regular business. For more information on Merger's services, visit www.mergerusa.com.


            

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