Caneum Inc. Engages Ascendiant Securities for Investment Banking Services.

NEWPORT BEACH, Calif. -- Caneum Inc. (OTCBB:CANM), a global provider of business process and information technology outsourcing products and services across vertical industries including technology, energy, government, transportation, financial services, education and healthcare industries, today announced the non-exclusive engagement of Ascendiant Securities LLC, an investment banking firm and registered broker-dealer. Ascendiant will explore institutional opportunities for the Company, which will include prospective financing activities as well as support for mergers and acquisitions.

In commenting about the new relationship, Alan Knitowksi, Caneum's Chairman, expressed his pleasure in joining forces with a strong and upcoming corporate finance firm that has a proven history of placing institutional investment capital in emerging growth companies. "We want to explore our capital needs with the institutional marketplace to support our growth initiatives and acquisition strategies."

Brad Wilhite, Co-Founder and Managing Director of Ascendiant Securities, stated, "We are impressed with the success Caneum management has had in previous ventures and we are excited about the Company's growth prospects, not only in its core business lines, but also through strategic acquisitions. We look forward to assisting Caneum with its investment banking needs as we present the Company to our institutional clientele."

This communication is for information purposes only and does not constitute and offer or solicitation to buy or sell any securities or financial instrument.

About Caneum Inc.

Caneum Inc. is a global provider of business process and information technology outsourcing products and services across vertical industries including technology, energy, government, transportation, financial services, education and healthcare. The company provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, product development, product maintenance and customer support, and fulfills its services in-house, on-shore, near-shore and off-shore depending on the business goals and objectives of its global customers. In parallel, Caneum is opportunistically pursuing accretive acquisitions within its core outsourcing product and service suite in order to broaden its core capabilities, expand its customer base and supplement its organic growth. For more information, please visit the company's Web site at http://www.caneum.com.

About Ascendiant Securities LLC

Ascendiant Securities LLC is a nationally ranked investment banking firm, registered as a broker-dealer with the Securities and Exchange Commission (SEC), and a member of the NASD and SIPC. Ascendiant provides investment banking and corporate finance services to its emerging public and private company clients. These services include equity private placements of preferred and common stock, PIPEs (private investments in public equities), mezzanine financing, senior and subordinated debt financing, working capital facilities, convertible debt, and bridge financing. During the past twelve months, Ascendiant has ranked among the ten most active placement agents as recognized by Sagient Research Systems, a leading publisher of independent research for the financial services and institutional investment communities. More information is available at www.ascendiant.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include but are not limited to the risk factors noted in the company's filings with the Securities & Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products and enhancements by competitors; the competitive nature of the markets for Caneum's services; Caneum's ability to gain market acceptance for its services and products; the company's ability to fund its operations; the company's ability to attract and retain skilled personnel; the company's reliance on third-party suppliers; the company's ability to acquire 1138 Inc. and successfully integrate the operations of 1138 Inc. into the company.