Commercial Consolidators Corp. To Acquire Global Software Developer And Information Technology Company.

Business Editors

TORONTO--(BUSINESS WIRE)--March 30, 2000

(CDNX:CCZ) (FRANKFURT:CJ9) COMMERCIAL CONSOLIDATORS CORP. ("CCZ"), announces that it has entered into an agreement in principle to acquire a 100% interest in La Societe Desig Inc. ("Desig"), a Montreal based software developer and information technology company focused on the hospitality sector.

Founded in 1984, Desig is a leading worldwide developer and provider of Property Management Systems ("PMS") for all sizes of hotels and resorts, including hotel chains such as Delta Hotels, Best Western, Ramada and Radisson. Desig has over 700 PMS systems installed in more than 24 countries and has a 42% market share in Eastern Canada. Desig has been ranked as providing one of the top ten hospitality solutions by Specialty Magazine and has been ranked by InfoTech Magazine as having the second-highest growth potential for Quebec based information technology companies. Desig reported net after-tax earnings of $775,500 on sales of $1,951,600 for the year ending October 31, 1999 and has realized sales and earnings growth in excess of 35% per annum in recent years.

CCZ has agreed to issue a total of 3.1 million common shares from treasury at a deemed price of $3.75 per share in consideration for 100% of the issued and outstanding shares of Desig to its owners Victor Noce, Robert Marcoux, Bertram Boldoc and certain members of their family. CCZ has also agreed to enter into employment contracts with Messrs. Noce, Marcoux, Boldoc and key employees whereby CCZ will pay Messrs. Noce and Marcous Cdn $125,000 per year and Mr. Boldoc US $125,000 per year, and issue an aggregate of 900,000 stock options at $3.75 per share which will vest as to 300,000 options per year, subject to Desig attaining mutually agreed upon financial performance targets.

Desig is implementing a comprehensive strategic plan to realize strong growth within the worldwide hospitality and lodging industry. Firstly, through its US subsidiary Central Point Technologies Inc., Desig is aggressively penetrating the United States market with its existing leading edge Property Management Solutions (PMS) and Central Reservations Solutions (CRS). Secondly, Desig plans to launch its new Internet based Property Management Solution (www.hotelPMS.com, www.resortPMS.com and www.condoPMS.com ) at the June HITECH show in Dallas. This will be one of the first product offerings of its kind in the world and will allow small to medium sized hotels, condominiums, resorts and time-share organizations among others to facilitate real-time on-line reservations and bookings. Desig has already implemented this technology for the Province of Quebec tourism authority. In conjunction with these initiatives Desig will commence its Business-to-Business (B2B) Internet E-commerce strategy through its own website to market its software and Internet based PMS solutions.

"CCZ believes that the Desig acquisition is highly synergistic in terms of its existing products, markets and management" states CEO, Michael Weingarten. "CCZ will use Desig's established presence in Canada, the United States, Caribbean and Latin American hotel and resort marketplace to further penetrate such hospitality markets for the Company's business equipment, consumer electronics and construction technology product lines. Also, CCZ will be able to offer turnkey software and hardware solutions to this significant and rapidly growing marketplace. Furthermore, CCZ will use the acquisition of this world class Internet technology expertise to launch its own e-commerce strategy to further expand its core business in Latin America and elsewhere."

The Desig acquisition significantly enhances CCZ's earnings per share and is evidence of management's commitment to building value for CCZ shareholders. CCZ plans to acquire other synergistic companies to combine its own marketing and distribution infrastructure and capabilities with leading edge companies' technologies, products and services. The agreement is scheduled to close on or before May 31st, 2000, subject to completion of due diligence by CCZ and regulatory approval.

ON BEHALF OF THE BOARD OF DIRECTORS: "Michael Weingarten"

The Canadian Venture Exchange Has Neither Approved Nor Disapproved The Information Contained Herein.