CityXpress Files 'Going-Private Transaction' with SEC.

Business Editors/High-Tech Writers

VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 17, 2003

CityXpress Corp. (OTCBB:CYXP), the leading supplier of event auctions for newspapers, today announced it has filed a Form 15 with the US Securities and Exchange Commission that would de-register the Company as a reporting issuer and effectively make it a private company.

"Our Board of Directors believes it is in the best interests of the Company at this time to be a private company and approved the filing of the Form 15 because the Company has fewer than 300 shareholders of record," said Phil Dubois, President & CEO of CityXpress. "Reporting requirements for small issuers are becoming increasingly more expensive and time-consuming for management and the Company. At this stage in our development, we strongly believe that the efforts of management must be focused on continuing to grow the business.

"As well as lowering our costs, the de-registration of the Company's common shares has other benefits at a time when the Company is embarking on growing its business and product lines. It will also enhance our ability to raise the financing required from time to time to execute our business strategy.

"When the de-registration of the Company's common shares becomes effective, shareholders will hold the same number of shares in the private company. Although some shareholders may perceive a loss of short-term liquidity, over the longer term the position of shareholders will be enhanced by the growth this transaction will make possible," Dubois concluded.

The de-registration of the Company's common shares will take effect 90 days, or such shorter period as the US Securities and Exchange Commission determines, after the filing of the Form 15.

ABOUT CITYXPRESS

CityXpress is the market leader in event auctions and online special sections for newspapers. CityXpress has offices in Seattle WA; Tampa and Fort Walton Beach FL; Vancouver BC; and Winnipeg MB. CityXpress shares trade on the NASD OTCBB under symbol CYXP. More information on CityXpress is available at www.cityxpress.com.

This press release and/or communication contains forward-looking statements regarding the Company's business strategy and future plans of operations. Such forward-looking statements can generally be identified by words such as will, expect, intends, believe, anticipates should and words of similar meaning. Forward-looking statements involve known and unknown risks and uncertainties, such as the Company's capital requirements and other liquidity concerns, fluctuations in demand for newspaper auctions and for the Company's other products, competitions, technological developments, and other risks and factors set forth from time to time in the Company's filings with the Securities and Exchange Commission and other press releases and/or communications of the Company. These and other important factors may cause actual results and performance to differ materially from the further results expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release and/or communication speak only as of the date hereof based on information available to the Company as of the date hereof, and the Company does not assume, and expressly disclaims any obligation or duty to update, revise or amend any of the information presented herein.