70% of World's Internet Users Don't Speak English Globetech's Real-Time Translation Application Allows American Web Sites Access to Billions of Foreign Users

Value-adding technology translates web sites and e-mail real-time into nine different languages with the click of a button


VANCOUVER, Jan. 16, 2001 (PRIMEZONE) -- Globetech Ventures Corp. (OTCBB:GTVCF) is addressing the needs of the largest and fastest growing segment of the Internet market - the 70% of online users who do not speak English as their first language. Through its TranslationWave solution (www.translationwave.com), Globetech (www.globetechventures.net) is breaking down the Internet language barriers, enabling businesses to instantly translate all types of online data into nine different languages with the click of a button. The solution is ideal for portals like MSN (Nasdaq:MSFT) and Yahoo (Nasdaq:YHOO) because with Globetech's technology, users from all over the world could potentially see those sites' content in their own language thus dramatically increasing the number of visitors.

This state-of-the-art communications service is by far the most advanced and comprehensive solution of its kind. TranslationWave can translate everything from web site content, documents, forms and archives to words, phrases and e-mail messages in real time or delayed formats. This latest technology sets TranslationWave apart from every competitor in the market. Globetech Ventures has now made it possible for companies around the world to communicate easily no matter what language they speak and this provides those companies a real competitive advantage in today's ever expanding global marketplace.

"The translation business solutions offered through TranslationWave fill a critical requirement for websites and corporations to expand in the global marketplace" says Globetech Ventures president, Dil Gujral. "TranslationWave's online communication center allows users to type in their native language and have the text immediately converted to the output language chosen. With this technology, we are targeting emerging foreign markets that want and need to expand worldwide. We are also opening these emerging markets up to the West as well. We are helping to drive down the language barriers that have been a hindrance to international commerce since the beginning of recorded time."

Globetech Ventures sees large Western nations such as the U.S., Canada, U.K., France and Germany as some of the early adopters of its technology. However, countries such as China, India, Japan, Korea and Taiwan, Russia and many in the Middle East, where online usage is gaining steadily each year are nations that will benefit greatly as well.

Globetech's unique application server provider (ASP) method of delivery sets it apart within its industry, offering a solution to upgrade an organization's web site and e-mail system internally. The TranslationWave application provides business-to-business (B2B) and business-to-consumer (B2C) opportunities worldwide with its ability to allow incoming parties instantly and conveniently translate a business's web site and communicate via e-mail in real time with no language barriers.

"TranslationWave goes beyond conventional translation methods. We have a board of highly trained linguists and professors that constantly upgrade our dictionary with new words and phrases. We go beyond word-for-word translation to include sentence-to-sentence translation and phrase-to-phrase translation to make sure the meaning of the communication is properly understood. As well, this in-depth translation can be done in a multitude of languages simultaneously, in real time. This is where we really add unparalleled value," adds Gujral.

The Internet is expanding to all corners of the world at an astounding rate. Yet industry research indicates that 70% of the world population communicates in languages other than English. In China, India, Japan and Taiwan alone, 200 million people are expected to be active Internet users by 2003. Nearly 70% of all PC users are also non-English speaking. Despite these statistics, 80% of Web content is available only in English, and 96% of all e-commerce sites are in English as well. This leaves a large communication gap across the globe and makes it nearly impossible for most online ventures to attract large numbers of customers and business partners from around the world. About TranslationWave.com

TranslationWave is a leading translation application service provider (ASP) that converts the Internet into a truly universal platform of communication. This is done through three key products that are offered by TranslationWave: -- Website translation

-- E-Mail translation

-- Universal translation icon (Interprenet)

The first two products are created specifically for existing web sites to upgrade their current capabilities. The third product, which is set to launch in the second quarter of 2001, is for individuals who surf the Internet. Interprenet allows for surfers to translate any page, which they are on, to their desired language. If for example, an English-speaking user lands on a page that is in German, the Interprenet icon is used from the Internet browser bar and converts the page; it is a virtual universal translator that accompanies the users every move.

The actual TranslationWave website is a platform that demonstrates the products that are offered. It shows the capabilities of the technology that is available to clients who recognize the competitive advantage that translation solutions offer. TranslationWave is an ASP that will capture this huge untapped market and make the Internet a truly global marketplace. Our business solution packages offer the smallest to the largest web sites, from small businesses to corporations, the capability to increase exposure to foreign users as well as users who can not speak the language which your website is currently in. In addition to this, TranslationWave can create internal email systems, which have translation capability. Perfect for multinational corporations to communicate with global offices, as well as the ability for businesses to send and receive translated emails.

TranslationWave provides a dynamic online venue that offers the conversion of many different languages from emerging foreign Internet markets. TranslationWave offers a complete package of services including chat room capabilities, e-mail, phrase, document and web site translation. TranslationWave currently provides translation to and from English, Spanish, Portuguese, Italian, Japanese, German, Korean, Chinese, Russian and French (with Arabic and Dutch on the way). E-mail, chat and keyboard practice applications also support communication in a total of 38 international languages. The end result is simple; in striving to gain as much exposure as possible, one must not overlook the potential of non-English speaking markets. TWave Business Solutions offer E-Businesses the capability to broaden their reach, thus allowing increased growth in all aspects. For the Internet to be a global marketplace and become a reality, there can be no language barrier.

For further information, please visit the company's website at www.globetechventures.net or contact Alan Brown, Vice President - Marketing at our head office at 1-800-298-0244.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expression. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Globetech Ventures Corp., (the Company) to differ materially from those expressed or implied by such forward-looking statements. (Such factors include, among others, the risk factors contained in the Company's Annual Reports and other filings with the Securities and Exchange Commission.) In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof. Merger Communications (Merger) is a media relations firm employed by the Company. Merger and the Company believe that all information in this release has been obtained from sources considered reliable, but cannot guarantee that the statements presented herein are accurate or complete. According to the short-term agreement between Merger and the Company, Merger's compensation for its financial media relations services, which includes the preparation and distribution of press releases, consists of three thousand dollars per month. Merger has also received five thousand free trading shares of the Company's common stock. Merger, its officers and employees currently own three thousand shares of the Company's stock. Merger typically has a long position in the securities of the companies in which it publishes information, and Merger may be buying or selling securities in the course of its regular business. For more information on Merger's services, visit www.mergerusa.com.


            

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