Canterbury Forms Internet Incubator Division; Alliance With e*machinery.net.

Business Editors/Hi-Tech Writers

MEDFORD, N.J.--(BUSINESS WIRE)--March 30, 2000

Canterbury Information Technology, Inc. (NASDAQ - CITI) - announced today that it had formed an Internet incubator division to develop, finance, and assist emerging growth information technology companies. Canterbury's division is prepared to work closely with IT companies in order to provide technological, operational and managerial services. This support will be supplied by the various Canterbury Companies in their areas of expertise as well as Canterbury Corporate Management.

Stanton M. Pikus, President of Canterbury, said, "Canterbury expects to gain revenues and profits in this business segment by providing services to its allied companies and accepting for payment a large portion of its receivables in the stock of these companies. On this basis, Canterbury would become a substantial minority stockholder of each of its allied companies. It is Canterbury's belief that this division will be an important complement to its ongoing commitment to build shareholder value. "

Canterbury is currently providing the aforementioned services to e*machinery.net, inc. (OTBCC: EMAC). The Internet's first international web site/portal for the construction and mining industry. EMAC's web site will provide a "state of the art" electronic exchange for the purchase and sale of new and used construction and mining machinery. EMAC will also provide access to financing, underwriting, shipping, inspection, appraisals, training and other associated services. U.S. Machinery Corp., a wholly owned subsidiary of EMAC, will specialize in purchasing, rebuilding and refurbishing used Caterpillar (CAT), construction and mining machinery manufactured with U.S. serial numbers to access the financial opportunities with the U.S. Exim-Bank in their globally preferred countries.

In addition to emerging Internet companies, the Canterbury Incubator Division would also be interested in working with technology companies involved in interactive marketing, secure transaction software, hosting, enabling tools and technologies. However, the Division's primary target would be Internet companies focused on business-to-business, industry specific portals. Canterbury intends to provide its allied companies with internal business systems, marketing, finance, and technology development. Canterbury will also work to establish business relationships for its partners with other Internet companies, suppliers and in particular with the Canterbury subsidiaries and their customers in order to assist in the development and marketing of new products and services.

Since almost all of the developmental candidates accepted will be private companies, Canterbury also intends to negotiate public status for these companies at an early stage by either merging them with an existing public vehicle or by arranging an initial public offering with an investment banker. If additional capital is required, Canterbury intends to assist them in arranging private placements.

The Canterbury Companies provide a wide variety of computer and management training programs and technology consulting services to Fortune 1000 companies. CALC/Canterbury is a Microsoft Solutions Provider and a Microsoft Certified Technical Education Center (CTEC), as well as a Lotus Authorized Education Center (LAEC). CALC/Canterbury is the first Linuxcare Authorized Mentoring Center with the exclusive territory of the eastern seaboard and Texas. CALC/Canterbury provides application and technical computer training, technical services and staffing and both instructor led and on-line course development. CALC Web University, an online training portal, developed and hosted by CALC/Canterbury, focuses on design and delivery of online training in both Internet and intranet environments. USC/Canterbury, a CTEC in the Mid-Atlantic area, provides technical training and network development and design. USC/Canterbury is also a premier value added reseller of hardware and software. MSI/Canterbury offers sales and management training and consulting to corporations nationwide. ATM/Canterbury is a software consulting and development company that specializes in document imaging, tracking and retrieval.

In addition to historical facts or statements of current condition, this press release may contain forward-looking statements. The Company's performance and financial results could differ materially from those reflected in the forward-looking statements due to general financial, economic, regulatory and political conditions or additional factors unknown to the Company at this time, as well as more specific risks and uncertainties such as those set forth in documents filed by the Company with the SEC (copies of which are available upon request or over the Internet at www.sec.gov). Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, current or prospective investors are cautioned not to place undue reliance on any such forward-looking statements. Furthermore, the Company has no intent, and disclaims any obligation, to update any such factors or forward-looking statements to reflect future events or developments.

The Internet addresses for the Canterbury companies are: Corporate - www.canterburyciti.com CALC/Canterbury Corp. - www.calc.com USC/Canterbury Corp. - www.gettrained.com ATM/Canterbury Corp. - www.atmcan.com MSI/Canterbury Corp. - www.msitrain.com CALC Web University - http://learn.calc.com