DataMEG Corp. Set to Unveil Major Telecommunications Network Assurance Software Solution in Q1 2003.

Business Editors, High Tech Writers

RALEIGH, N.C.--(BUSINESS WIRE)--Dec. 9, 2002

DataMEG Corp. (OTC BB: DTMG) announced today that their wholly-owned subsidiary, North Electric Company, Inc. (NECI) is planning to accelerate development of their Network Assurance products for converged IP networks for market release Q1 2003.

Dan Ference, Chief Operating Officer NECI stated, "We have had numerous discussions with test equipment vendors and network operators over the last several months. From this we have concluded that many potential customers both in the United States and overseas are planning to begin deployment in Q1 2003 of their next generation replacement for their traditional voice telephone network infrastructure. The traditional voice telephone network infrastructure replacement process consists of the deployment of network elements known as 'softswitches' and 'gateways' that enable voice and data to be converged and effectively carried over an IP network. Converged broadband IP networks present new challenges to network operators that our products help to satisfy and resolve."

Mr. Ference continued, "Our products focus on enabling network operators to quickly and cost effectively introduce the new network infrastructure and new revenue producing services. The customer will achieve cost savings benefits through limiting network downtime as our Network Assurance software isolates and identifies network 'trouble spots' and ensures that the necessary service level agreements are being met on an ongoing basis. Late Q1 2003 market delivery presents a major challenge for NECI but we understand the issues involved and feel we can find ways to deal with this challenge."

Andrew Benson, President DataMEG Corp. stated, "NECI's discussions have allowed us to determine that equipment purchases by network operators will commence in Q1 2003. This will allow these operators to deploy equipment prior to the end of the quarter or early Q2. We intend to be a part of this buying and deployment cycle within the converged broadband IP network market. This presents us with an exciting opportunity to earn revenues for the Company in early 2003."

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 through integrated system solutions that lower operational costs. Additional information about NECI is available at www.northelectriccompany.com.

For futher information about this release contact NECI Public Relations: Carla Erickson, 919-341-6000 and/or Rich Kaiser, 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.