724 Solutions Announces X-treme Mobility Gateway 2.2; Latest Version Delivers Powerful New Functionality.

Business Editors/High-Tech Writers

CTIA Wireless 2003

Booth No. 5459

NEW ORLEANS & TORONTO--(BUSINESS WIRE)--March 17, 2003

724 Solutions (Nasdaq:SVNX) (TSX:SVN), a leading provider of next-generation IP-based network and data services, announced today that it has released X-treme Mobility Gateway (XMG), version 2.2. XMG 2.2 represents the next generation of 724's WAP 2.0 software, designed to deliver a number of new and innovative software features that enhance the end users' experience and create value added content revenue opportunities for mobile operators while reducing the operational deployment costs.

Enhancing the end users' experience and opening up content driven revenue streams, XMG 2.2 delivers an Access Control feature whereby the mobile operator can control an end users' subscriber group, blacklist, whitelist, services subscriptions and hotlining. For example, if an end user initiates access to subscription content, rather then being denied, they can be redirected to the sign-up application to subscribe.

The second set of features in XMG 2.2 focuses on improving the operational efficiency of mobile data networks. Enhancements to OAM&P through GUIs and APIs speed the deployment of large-scale networks. Support of HP-UX 11i and SUN Solaris 8 allow the optimal deployment configuration, reduces initial investment and leverages commercial computing platforms. XMG 2.2 has also completed MMS interoperability verification with the Nokia Multi Media Messaging Server, which ensures seamless integration with existing data networks.

XMG 2.2 also offers mobile operators the flexibility of either bundling the Pull Gateway and Push Proxy Gateway into a single platform, or deploying these capabilities individually. XMG 2.2 offers the leading WAP 1 and WAP 2 pull capabilities through a variety of networks with extensive push capabilities for messaging, WAP Push and MMS data services.

"Flexibility, high throughput, and scalability are the key characteristics of next-generation data networks," said XJ Wang, Senior Analyst, Yankee Group. "XMG 2.2 has extended those capabilities on top of its previous release. The built-in content adaptation feature not only improves end-user experience but also enables more content providers to join the wireless data party."

"With enhanced management functions the XMG integrates into mobile data networks seamlessly," said John Sims, 724 Solutions, chief executive officer. "This new version continues to extend our leadership position in the deployment of next-generation IP-based network and data services."

724 Solutions was the first mobile gateway company to enable a fully compliant WAP 2.0 service in North America with the Sprint PCS Vision network and this latest release of XMG builds on over a year of product experience garnered since our first WAP 2.0 release in January of 2002, well ahead of most vendors. The X-treme Mobility Gateway is an OMA standards-based product with unprecedented scalability and fault tolerance, and the only truly carrier grade gateway to have been deployed distributed across geographies with inter and intra-site fail-over.

About 724 Solutions Inc.

724 Solutions Inc. (Nasdaq:SVNX) (TSX:SVN) delivers reliable, scalable technology and solutions that allow mobile network operators to rapidly deploy flexible and open next-generation IP-based network and data services. Additionally, the company provides a series of actionable alerting solutions to financial institutions to assist them in lowering operating costs and improving customer satisfaction and retention. 724 Solutions is a global company with development operations in North America, Switzerland and Germany, with headquarters in Toronto, Canada. For more information, visit www.724.com.