Beloyan Investment Securities, Inc. Announces Investment Opinion on ITS Networks Inc. and Canterbury Information Technology Inc.

Business Editors

NOTE TO EDITORS: The following is an investment opinion issued

by Beloyan Investment Securities, Inc.

DAVIE, Fla.--(BUSINESS WIRE)--April 2, 2001

-- Beloyan Investment Securities, Inc. initiates coverage on

ITS Networks Inc. (OTCBB:ITSN) with a STRONG BUY with a 6 month

target of $3.00 and a 12 month target of $6.00 and reiterates buy

on Canterbury Information Technology Inc. (Nasdaq:CITI) with a

6 month target of $4.00 and a 12 month target of $6.00 --

Beloyan Investment Securities, Inc. President Mark Beloyan initiates coverage on ITS Networks Inc. (OTCBB:ITSN) with a STRONG BUY recommendation. ITSN is a Spanish telecommunications company specializing in Direct Pre-Selected Fixed Line Services, Cellular Services, Email, Broadband, Dial Around Calling, Calling Cards, Auto Dialers, Call Back Services, Business to Business E-Commerce and other internet and Web Design Services. It is one of a select few Spanish Corporations trading in the US Markets. With offices in Madrid, Marbella, Seville, Malaga, Tarragona, Las Palmas in the Grand Canary Islands and most recently Majorca. The Company has grown rapidly and has formed a relationship with Alo, the sixth largest Telecom Company in Spain. The current Market in Spain can be compared to what existed in the US 20 years ago, with the exception that the changes are occurring more rapidly. About half the population in Spain own a cell phone, Cellular and Data Services are driving the market. The company has thousands of sales agents on a retail level. Management is very strong and the company employs about 135 people. Most recently the Company started a new marketing campaign starring Melanie Griffith as the spokesperson. Telecommunications and Internet Services is just starting in Spain, and I believe that there is an opportunity at these current levels. You can check out the Company's web site at: WWW.itseurope.com.

I am reiterating a STRONG BUY on Canterbury Information Technology, Inc. (Nasdaq:CITI) with a 6 month target of $4.00 and a 12 month target of $6.00. Last month CITI announced year-end results that showed tremendous growth both in earnings and revenues. With the stock trading around a 10 (PE) Price Earnings Ratio, it is obvious to me the market isn't paying attention to this company. With consistent growth over the past 2+ years CITI shares should be trading at higher prices. I believe that this company is trading way undervalued. Last month the Company announce a "double" in revenues and EPS of $0.11 versus $0.08 for the year. I believe that CITI will earn this fiscal year in excess of $0.16 per share. With the industry trading around a 30 PE, I believe the shares now should be trading around $3.30. Take a good look at this company as it has consistent growth and good management and has traded as high at 4 5/8 and at low as 1 in the past year. I don't believe that there is much downside from here. You can check out the Company web site at: WWW.canterburyciti.com

For further information please call Mark Beloyan at 800-365-1553 or 954-916-3899.

With respect to the above you should be advised that:

1. Beloyan Investment Securities, Inc. (BIS) may trade for its' own account any securities/options of the issuer(s).

2. BIS, its' affiliates, directors and officers may have a long or short position in any securities mentioned herein.

3. The material herein has been obtained from sources believed reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Any recommendation contained therein may not be suitable for all investors.

4. For further due diligence you can check out WWW.freeedgar.com.