BIFS Technologies Corporation Appoints Former Piper Aircraft CFO as New Chief Financial Officer.

Business Editors/Technology Writers

SARASOTA, Fla.--(BUSINESS WIRE)--May 25, 2001

BIFS Technologies Corporation (Pink Sheets:BIFT) announced today that Mr. David Glaser has been appointed as the company's new Chief Financial Officer. Mr. Glaser possesses a long and distinguished professional career, which includes past executive level positions as the CFO for Piper Aircraft, CFO for PRIDE Enterprises, President and CFO of Encore Vehicles Inc., and Corporate Controller for Parkwood Corporation.

Mr. Al Keyser, Chairman of BIFS Technologies Corporation, commented on the appointment by stating: "We are delighted to welcome David Glaser to BIFS Technologies Corporation and I am very certain that he will contribute significantly to the success of the company. Throughout the past year, we have endeavored to build our management team by selectively recruiting executive level personnel from national companies and the recent addition of Dave Glaser will no doubt add another complementary dimension to BIFS. His years of experience and leadership in the financial arena, combined with his ability to effectively interface with the operational elements of the corporation, are exactly what BIFS Technologies Corporation was seeking. We anticipate that David Glaser will make welcomed contributions to each of our operational divisions and I am looking forward to receiving his advice and counsel."

Mr. David Glaser, CFO, commented on his appointment by saying: "I look forward to the opportunities presented through this affiliation with BIFS Technologies Corporation. The diversity of BIFS and its business plan, combined with the company's market position and expansion prospects, I believe, present an excellent personal opportunity and I look forward to helping shape the future of this young company. Over the past few months, BIFS has been quietly expanding its businesses into new areas and enhancing its product lines to support the airport industry and military services. In addition, the company is now concluding the construction phase of its SWOMI wireless Internet pilot program to the hotel and resort industry in Myrtle Beach, South Carolina and is also diligently working toward completing the installation of its TV+ Internet prototype service to the State of Montana. The near term completion of these construction projects will allow BIFS to reduce costs and concentrate on the marketing of these advanced networks in order to bring expenditures in line with revenues."

Mr. Frank Bridges, Chief Operating Officer spoke to development by stating, "Dave Glaser's experience within the aircraft industry and familiarity with the support of advanced technology based companies, are seen as demonstrative advantages for the BIFS management team and I am looking forward to his active involvement with the company."

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.