BIFS Technologies Corp. Signs Contract with PBS Affiliate WSRE-DT in Pensacola to Deploy the TV+Internet Wireless High Speed Last Mile Internet Delivery System.

Business Editors/Technology Writers

SARASOTA, Fla.--(BUSINESS WIRE)--Aug. 23, 2002

BIFS Technologies Corporation (OTCBB:BIFT) today announced that it has entered into a contract with WSRE-DT, Channel 31, a PBS affiliate, in Pensacola, Florida. The contract allows BIFS to lease the station's excess digital bandwidth capacity to deploy the company's TV+Internet(TM) Wireless High Speed Last Mile Internet Delivery System (TV+Internet(TM)). BIFS will install and operate the system, providing wireless high-speed Internet access to the residents of the greater Pensacola viewing area during the 4th quarter of 2002. The contract with WSRE represents an integral part of BIFS overall business strategy and goals. BIFS remains committed to achieving the company's business objectives, while simultaneously avoiding long-term debt. In these times, fiscal responsibility, executive integrity and a clear business strategy are paramount to the success of any company and BIFS plans to continue to move deliberately and cautiously toward the attainment of these goals.

BIFS Technologies goal is to take this business model to other PBS and digital ready commercial television stations, such as WSRE and WHDT Channel 44 in Miami, across the nation, where current technologies cannot meet the growing demand for high-speed IP services. Customer demand for high-speed services encompasses both generic Internet and Web based applications, as well as focused premium services such as online tutoring and distance learning applications. The contract with WSRE comes on the heels of a recent decision by the Federal Communications Commission (FCC) to allow public broadcasting stations, like WSRE, to use their excess DTV bandwidth capacity as a mechanism to increase revenues. The use of TV+Internet(TM) offsets the stations' cost of FCC mandated conversion to digital television format and serves as an additional mechanism for long-term revenue generation.

Al Keyser, Chairman of BIFS Technologies Corporation, commented: "We are extremely pleased by the decision of the WSRE management to lease BIFS the bandwidth capacity necessary to deploy TV+Internet(TM) Wireless High Speed Last Mile Delivery System and we look forward to working with WSRE, and other stations like them, to serve the high speed internet service needs of their viewers. We remain convinced that the TV+Internet(TM) system is the best solution available to help independent and public broadcasting stations overcome the financial challenges of converting to the digital television format. The recent FCC decision confirms our long-standing position that TV+Internet(TM) is a perfect match for PBS stations. It offers these public broadcasters an entirely new business model to supplement the annual pledges and contributions made by their devoted viewers."

BIFS Technologies Corporation is a diversified company that specializes in the development and marketing of advanced technologies in support of a variety of industrial and commercial enterprises. Its business interests involve the bioremediation of environmental contaminates through the distribution and operation of its patented biofiltration system, the provision of airport management support software, the delivery of wireless high-speed Internet services to businesses, commercial customers, and residential communities through the company's Beach Access.Net, and TV+Internet(TM) SWOMi III Wireless High Speed Last Mile Solutions, and the provision of international business support to multinational companies via the VendorLynx worldwide offset/countertrade division.

Safe Harbor Statement: The statements contained herein which are not historical are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward looking statements, including, but not limited to, the Company's ability to market its products and services and future customer acceptance for these products and services and other risks detailed from time to time in company documents furnished to investors.