Cybersurf and Latin Net Join Forces to Bring Cybersurf's Free Internet Technology to Latin America.

Business Editors

TORONTO--(BUSINESS WIRE)--April 27, 2000

New Company: "Cybersurf Latin America" to serve growing market

with population of 550 million

Cybersurf Corp.(CDNX:CY.) ("Cybersurf") and Latin Net, S.A. ("Latin Net") are pleased to announce the formation of a new joint venture that will introduce Cybersurf's unique Internet advertising and sprite animation technology to Latin America.

"We are moving into a new era of Internet service delivery at Cybersurf. This joint venture will open the doors to a potential market of 550 million people, in a region where the number of Internet users is expected to grow at a compound annual growth rate of more than 40 % per year through 2003" says Mr. Paul Mercia, President and CEO, Cybersurf Corp.

Under the terms of the agreement, Cybersurf and Latin Net, a Panamanian corporation 80 % controlled by Mesoamerica Investments ("Mesoamerica") and 20 % controlled by Latin Communications Corp. ("Latincom"), have entered into a joint venture and will form a new company called Cybersurf LA Holdings, Ltd. ("Cybersurf Latin America"), organized under the laws of the British Virgin Islands. Cybersurf and Latin Net each will control fifty percent (50 %) of Cybersurf Latin America's outstanding securities on a fully diluted basis.

The purpose of this joint venture is to introduce the proprietary technologies of Cybersurf to the Latin American region, including Spain and Portugal as well as South and Central America. Initially, Cybersurf will develop a Spanish language version of its unique advertising-supported free Internet service, The 3web Network, substantially similar to the English language version and also will provide technical expertise. A Portuguese language version will follow. Latin Net will leverage its strong presence, connections and relevant expertise in the region to help Cybersurf Latin America enter into agreements with strategic allies, including regional ISPs and telecommunication, media, distribution, and support companies.

"Utilizing Cybersurf's proprietary technology, and leveraging our first hand experience and broad network of contacts, Cybersurf Latin America will be given the opportunity to capture a substantial share of the Latin American Internet market space" says Mr. Alejandro Lozano, Managing Director, Mesoamerica Investments.

Subject to regulatory approval, Cybersurf also has agreed to grant Latin Net an option to purchase (i) up to 345,000 common shares of Cybersurf from treasury at market price; and (ii) up to 2,760,000 warrants at a price of $1.00 each. Each of the warrants will be exercisable for three years and will allow the holder to purchase one common share of Cybersurf upon payment of an exercise price of $5.00 per share.

Mr. Mercia and Mr. Lozano will be hosting a media event in Toronto, Canada, announcing this historic joint venture to introduce Cybersurf's unique new media advertising and sprite animation technology to Latin America. This event will take place at 11:00 a.m. on Thursday, April 27 at The News Theatre, 98 The Esplanade, Toronto. This event will be available for viewing on the Internet as of Friday, April 28 at www.virtuecast.com/business/cybersurf/index.htm

About Cybersurf

Cybersurf is an information technology company in the business of developing and marketing innovative software, connectivity and communications solutions.

Cybersurf generates revenue from delivering demographically and psychographically targeted advertising to its 3web subscribers, rental of space on its Internet Gateway and Galleria and from transaction fees from E-commerce programs.

The 3web Network, Cybersurf's marquee product, is Canada's first free Internet and E-mail service. Cybersurf is the first company in the world to develop absolutely free Internet access supported by desktop advertising. Through the 3web Network, Cybersurf is poised to capture a substantial share of the Internet advertising market. Cybersurf is already Canada's second largest Internet Service Provider with more than 330,000 subscribers.

3web's Continuous Advertising Component is responsible for serving highly targeted advertising directly to 3web users through the always-present Smart Advertising Module. This unique capability makes it possible for Cybersurf to guarantee in writing the exact number of impressions purchased by an advertiser. Never before has this type of captive-audience advertising been used in conjunction with the Internet. Visually superior to conventional web advertising, 3web's animated ads can deliver advertisements to the user's desktop that are comparable in presentation quality to television commercials. As a result, many of 3web's advertising clients have chosen to run derivatives of their television commercials on 3web, thereby seamlessly transferring recognized campaigns across media while stretching the advertisers' creative budgets.

Cybersurf encourages everyone to download a free version of the 3web software suite, and start receiving absolutely free Internet for life, at www.3isfree.com.

For more information about Cybersurf and 3web, please visit www.cybersurf.net and www.3web.net.

Cybersurf's common shares trade on the Canadian Venture Exchange (CDNX: CY).

About Mesoamerica Investments

Mesoamerica Investments is in the business of building successful business ventures in Latin America. Mesoamerica has assembled a world class management team, with experience from top consulting firms and investment banks. Mesoamerica is backed by a leading core of local business leaders and investors specific to each region of investment. In addition, Mesoamerica has access to additional resources from its sister organizations of Bain & Co. (consulting) and Bain Capital (venture capital).

In one of the deals promoted by Mesoamerica, a joint-venture was formed with Telefonica, the largest Spanish and Portuguese speaking telecom operator in the world, with operations in Spain, Argentina, Brazil, Chile, Peru, Puerto Rico and Central America. Telefonica de Centroamerica, owned 51 % by TISA and 49 % by Mesoamerica Telecom, has operations in El Salvador and Guatemala and plans to invest a total of one billion dollars in Central America.

The Canadian Venture Exchange has neither approved nor disapproved of the information contained herein. This press release does not constitute an offer or solicitation relating to the securities described herein in any jurisdiction in which such an offer or solicitation may not lawfully be made.