Ottawa, Canada, October 24, 2000 - Precidia Technologies Inc. announced today that it has been selected as a finalist in the 'New Business of the Year' category of the 2000 Ottawa Business Achievement Awards. The finalists were revealed yesterday by the Ottawa Board of Trade. The Ottawa Business Achievement Awards recognize excellence in the Ottawa business community.

"We are thrilled to have been selected as a finalist for such a prestigious award, and honoured to have been chosen from amongst so many worthy candidates in our region. There is nothing more satisfying than to be recognized within your own community for your accomplishments", said Deepak Wanner, President of Precidia.

Precidia was selected from amongst many new businesses in the Ottawa region. The decision was based on a number of criteria, including job creation, customer satisfaction, R&D, and community involvement.

"The selection of Precidia as a finalist in this category is yet another validation of the company's success and of the leadership of its President, Deepak Wanner, who was chosen as a 'Forty under 40' Award winner earlier this year. I congratulate Deepak and his team on their continuing success", said Leo Lax of Skypoint Capital Corporation, an investor in Precidia.

The winners will be announced at a gala evening on Thursday, November 23rd.

About Precidia Technologies
Precidia Technologies Inc. is a global leader in the design and manufacture of IP access devices for a wide range of industries, including retail payments and building automation. With customers in over 75 countries, Precidia's unique product line of wired and wireless access devices seamlessly migrate stand-alone serial and dial equipment onto more sophisticated IP networks. For more information, visit Precidia on the Web at http://www.precidia.com.