EQUITECH CORPORATION ANNOUNCES CLOSING OF INITIAL PUBLIC OFFERING

JANUARY 2, 2001

Edmonton, Canada - Equitech Corporation (the "Corporation"), a Capital Pool Company, is pleased to announce that it has completed its initial public offering of securities pursuant to a prospectus dated November 27, 2000. The Corporation received gross proceeds of $500,000 for the offering of 2,500,000 common shares at $0.20 per share.

As a result of the closing, the Corporation now has 1,400,000 common shares issued and outstanding with 250,000 common shares reserved for agent's options.

The common shares of the Corporation have not yet been posted for trading and the Corporation does not intend for the common shares to trade prior to the announcement of the Qualifying Transaction.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities of the corporation have not been and will not be registered under the U. S. Securities Act, 1933, as amended, and subject to certain exemptions may not be offered or sold in the United States or to U. S. persons. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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