Continental Announces Re-Structuring is Close to Completion, Growth Initiatives Are on Track and New Appointment to The Board of Directors.

TORONTO -- Continental Cash Technologies Corporation (TSX VENTURE:CNT) (the "Company") is pleased to report that the Annual Meeting for Fiscal 2004 was held December 15th at the Company's head office in Toronto.

Birks Bovaird president and CEO reviewed the major accomplishments during the most recent fiscal year and highlighted the fact that the Company has raised close to $250,000 under private placements for working capital purposes and restructured the balance sheet with total debt reduction of close to $800,000.

The shareholders voted unanimously to change the name of the Company to Cenit Corporation. The name change reflects a new start for the Company as senior management and the Board of Directors have been completely changed in the past year and a new focus and energy has been brought to the organization. The name change is expected to be formally completed within one week's time. The trading symbol; CNT will remain the same.

The Company also announced that long time Director and former Chairman Mr. Leif Bristow did not stand for re-election to the Board of Directors. Mr. Bovaird thanked Mr. Bristow for his long service to the Company and announced that Tim Campbell, Secretary-Treasurer has been appointed Senior Vice-President and a Director of the Company. "Mr. Campbell has extensive public company senior level experience, has played a key role in the Company's re-structuring and is a welcome addition to the Board", said Mr. Bovaird.

Cenit Corporation is focused on streamlining daily operations, targeting growth through acquisitions and increasing sales activity in its wholly owned subsidiaries; Continental Asset Management Inc. (CAMI) and Health Promotions Strategies Inc. (HPSI).

As part of the business expansion drive the Company is coordinating expansion efforts with its Quebec based Point of Sale sub-distributor; Solutions JYJ Inc. and aggressively expanding its Point of Sale presence in that province.

In the Companys' Automated Teller Machine (ATM) division due diligence is currently underway in connection with the potential acquisition of one Company and preliminary discussions have commenced with another Ontario based ATM operation.

About Continental Cash Technologies Corp.

The Company operates two subsidiary companies; Continental Asset Management Inc. (CAM) and Health Promotions Strategies Inc. (HPSI). CAM operates white label Automated Teller and Point of Sale Machines and is a preferred supplier of Ingenico Canada Ltd.; a wholly owned subsidiary of one of the world's largest manufacturers of debit and credit point of sale systems hardware. HPSI is a registered gaming equipment supplier providing fundraising services to 150 charitable organizations through the distribution of the "Break Open Tickets" line of charity lottery tickets.

Share Price: $0.23 (Dec 15, 2004)

Shares Outstanding: 12,345,594

"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release"

Continental Cash Technologies Corporation (TSX VENTURE:CNT)