DataMEG Corp. Broadens Q1 2003 Product Market Reach to Include $6 Billion IP PBX Equipment Market.

Business Editors, High Tech Writers

RALEIGH, N.C.--(BUSINESS WIRE)--Dec. 11, 2002

DataMEG Corp. (OTCBB: DTMG) announced today that their wholly owned subsidiary, North Electric Company, Inc. (NECI) is expanding the market introduction of their Network Assurance Software Solution to the IP Private Branch Exchange (PBX) market.

This will increase considerably NECI's 2003 revenue potential.

Dan Ference, Chief Operating Officer NECI stated, "The IP PBX market, as an addition to our existing target markets in Q1 2003, provides us with additional revenue earnings potential. Focusing our market release where real purchasing of network equipment will occur in 2003 is very important and the IP PBX market is another area that is predicting spending growth in 2003. We received this input from our discussions with test equipment vendors and network operators and have seen analyst reports predicting that IP PBX equipment revenue could reach over $6 billion in 2003. This provides us with additional opportunities to sell our network assurance solutions for converged IP networks."

Mr. Ference continued, "We are also receiving input that working relationships and partnerships, with strategic network equipment vendors (the suppliers of softswitches, gateways, PBX's, etc. equipment to the large telecommunications network operators) will expedite the deployment of our products in the markets. We are initiating the development of such relationships with targeted businesses at this time."

With headquarters in Raleigh North Carolina, North Electric Company, Inc. (NECI), a wholly owned subsidiary of DataMEG Corp. (DTMG OTC: BB) is a provider of network assurance solutions. NECI provides solutions for network-level monitoring and testing with automated fault isolation of converged broadband IP networks and MPLS-based IP and optical transport networks. Our innovative products enable service providers to effectively introduce new services and to ensure optimal network performance to meet Service Level Agreements (SLA's) through integrated system solutions that lower operational costs. Additional information about NECI is available at www.northelectriccompany.com.

For more information about this release and the Company, contact NECI, Public Relations, Carla Erickson, 919-341-6000 and/or Rich Kaiser, Investor Relations, YES INTERNATIONAL, 800-631-8127.

Except for the historical information contained herein, this press release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended that involve a number of risks and uncertainties. These forward-looking statements may be identified by reference to a future period by use of forward-looking terminology such as "expect," "anticipate," "could," "would," "will," and "may" and other words of similar nature. There are certain important factors and risks that could cause results to differ materially from those anticipated by the statements herein. Such factors and risks include the successful completion of the CAS technology development, the successful completion of projects underway at North Electric Company and the business conditions and growth in related areas of telecommunications, wireless and digital transmission areas, and in the economy in general. Competitive factors include the rapid pace of alternative technology advancements and the Company's ability to gain market acceptance of its evolving products. Other risks may be detailed from time to time in our filings with the Securities and Exchange Commission. Neither DataMEG Corp. nor its subsidiaries undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.