Canterbury Revenues Double in Fiscal 2000; Net Income Increases by 70%.

Business Editors

MEDFORD, N.J.--(BUSINESS WIRE)--March 6, 2001

Canterbury Information Technology, Inc. (NASDAQ - CITI) - announced today that revenues for the fiscal year ending November 30, 2000 more than doubled to $29,735,000 from $14,210,000 in 1999; net income was $1,058,000 versus $621,000 in 1999. Basic earnings per share were $.11 versus $.08 in 1999, even though Canterbury's common stock outstanding increased by 1,178,000 shares in fiscal 2000. Net worth increased from $18,873,000 to $22,080,000; total assets increased from $27,812,000 to $31,184,000.

Kevin J. McAndrew, Executive Vice President and Chief Financial Officer, was quoted as saying, "In fiscal 2000 Canterbury's revenues increased by 109%, pretax profits increased by 183%, net income increased by 70% and earnings per share increased by 38%.

Mr. McAndrew further stated, "Canterbury's Management Team and Board of Directors are pleased with year-end results. We were able to absorb the acquisition of USC/Canterbury completed in October of 1999 and that subsidiary which showed substantial growth in fiscal 2000 was the major contributor to our increases in revenues and profits for the year. Our acquisition of DataMosaic/Canterbury in August of 2000 and the opening of offices at other Canterbury subsidiaries sets the stage for Canterbury to build a national technical staffing augmentation presence in fiscal 2001."

"CALC/Canterbury maintained its reputation for quality application and technical computer software training, grew its technical consulting business, and worked closely with the management of e*machinery.net, inc. (OTCBB: EMAC) to build an international portal that will service the construction and mining machinery industry. Canterbury currently owns in excess of 1,250,000 shares of EMAC common stock."

"MSI/Canterbury continued its 25-year reputation for excellence in management consulting and training and recorded the highest return on sales and equity of any of our subsidiaries. ATM/Canterbury, our software consulting and development subsidiary, expects to build a significant customer base through the sale of systems to image, retrieve and track files, documents and hard assets and to monitor access to secured areas."

"In fiscal 2001 Canterbury intends to expand its existing subsidiaries and to continue to seek acquisitions in the information technology sector. Growth through acquisition, joint ventures and external business relationships is an important part of our business plan, and we intend to aggressively search out viable opportunities."

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 provides technical and application computer training, technical services and consulting and portal development services. 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 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. DataMosaic/Canterbury Corp. is a management and systems consulting company that provides staffing augmentation solutions and consulting services to the information technology industry.

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. 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 address for Canterbury is www.canterburyciti.com.