724 Solutions Introduces the Wireless Internet Platform 3.0; New version features speech recognition and secure WAP browsers for leading PDAs.

Business Editors and High-Tech Writers

TORONTO and AUSTIN, Texas--(BUSINESS WIRE)--March 6, 2001

724 Solutions Inc. (Nasdaq:SVNX) (TSE:SVN.TO), today announced the worldwide availability of its premier Wireless Internet Platform(tm) 3.0, creating more flexibility and extending the communication channel between businesses and consumers through secure and reliable mobile transactions. This new version features voice recognition and authentication, an advanced notification engine that is designed to select the most effective delivery channel for the user's device and highly secure Wireless Application Protocol (WAP) browsers for the leading personal digital assistants (PDAs) -- including support for the entire family of Palm Computing, Research in Motion (RIM) and PocketPC devices. With 724 Solutions' technology, companies can quickly deliver secure, scalable and personalized m-commerce capabilities to all leading devices on most networks.

"With this new version of the Wireless Internet Platform, 724 Solutions delivers a powerful combination of new features on an already robust and scalable wireless solution," said Sally Hudson, analyst for IDC's Internet Infrastructure Software program. "724 Solutions is at the forefront of adapting to its customers' needs by offering a solution with advanced voice and messaging features. This product ultimately creates a closer, more personalized relationship between an enterprise and end-users."

Wireless Internet Platform 3.0 Feature Set

New features in the Wireless Internet Platform 3.0 further extend a company's mobile channel, allowing businesses to leverage emerging technologies in voice/data integration and message notification through short message service (SMS) and WAP Push. Speech recognition, text-to-speech engines and VoiceXML (extensible markup language) development tools support applications that allow users to request a wide variety of information such as graphical stock charts and then act upon that information by purchasing or selling the stock. Enabling a highly compelling and customized user experience, these features respond to the needs of the marketplace as wireless applications move into the mass deployment phase in which users demand a highly intuitive, compelling interface. The Wireless Internet Platform 3.0 features available to wireless application developers now, will be leveraged in the 724 Solutions applications to provide customers the ability to personalize content which, ultimately, will help build and maintain strong customer relationships.

The Wireless Internet Platform 3.0 addresses critical requirements for high-volume Internet transactions: scalability, availability, transaction integrity and security. New features in version 3.0 include:

-- Advanced Notification Engine - sends messages to end-users via SMS, WAP Push
and wireless email (SMTP), each having its own advantages. WAP Push allows
links and graphics in the message, SMS allows two-way messaging and delivery
confirmations and SMTP can be used with non-SMS phones and mail software used
on PDAs.

-- Voice Interface - extends the Wireless Internet Platform to voice through
speech recognition, voice authentication and VoiceXML development tools, with
15 international languages available.

-- Transcoding Tools - graphical tools convert HTML Web sites to wireless
markup language (WML) for rapid prototyping of wireless sites.

-- HP OpenView Smart Plug-in - enables management of the platform through
Hewlett-Packard's enterprise system management environment.

-- Secure Browsers for leading PDAs - provides end-to-end security for wireless
transactions with the Palm, RIM and PocketPC family of personal digital
assistants.

Previously existing features of the Wireless Internet Platform include multiple protocol support, content conversion, profile management and gateways for integration with back-end applications and data sources.

"724 Solutions offers comprehensive and secure features for enabling wireless transactions," said Peter Klante, general manager of 724 Solutions' Platform Business Unit. "Our Wireless Internet Platform is a robust foundation for building mobile commerce services that can support up to 10 million users simultaneously. Using this secure, highly scalable platform with integrated voice features and advanced messaging capabilities, businesses can customize content for each customer, providing an easy and flexible transaction experience. This advanced level of personalization will help businesses to attract and retain customers, and increase brand loyalty."

About 724 Solutions Inc.

724 Solutions Inc. is a leading global provider of Internet infrastructure software that enables the delivery of secure mobile transaction solutions across a wide range of Internet-enabled devices. The 724 Solutions suite of products and services enables companies to monetize the Internet by building, deploying and integrating personalized and secure mobile commerce and lifestyle applications. The company also offers end-to-end customer support through its global application hosting and contact center services. 724 Solutions' customers have a combined customer base totaling more than 270 million consumers worldwide. With dual headquarters in Toronto, Canada, and Austin, Texas, the company has development and sales offices around the world, including Australia, Barbados, Finland, France, Germany, Japan, the Netherlands, Switzerland, the United Kingdom and the United States. 724 Solutions' common shares are listed on the NASDAQ National Market (SVNX) and The Toronto Stock Exchange (SVN). For additional information visit www.724.com.

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements include the statements herein regarding the ability for the Wireless Internet Platform to enable businesses to attract and retain customers and to deepen their relationships with these customers. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including the risk that technologies developed for the secure delivery of mobile transactions will not be attractive to businesses and consumers as anticipated, the risk that 724 Solutions' customers will not successfully deploy services based on the Wireless Internet Platform, and other risks described in 724 Solutions' SEC filings, including its Registration Statement on Form F-4, and its annual report on Form 20-F. These risks are also described in 724 Solution's filings with the Canadian Securities Administrators, including its prospectuses, material change reports, Annual Information Form and Management Information Circular. 724 Solutions does not undertake any obligation to update this forward-looking information, except as required under applicable law.