EquiTech Corporation Announces Grant of Stock Options

MAY 9, 2002

Edmonton, Alberta – EquiTech Corporation (" EquiTech"), a capital pool company, is pleased to announce that, in accordance with the policies of the TSX Venture Exchange, 20,000 options have been granted to a senior officer of the Corporation at an exercise price of $1.50 per common share with an expiry date of April 22, 2007, subject to regulatory approval.

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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