PRNewswire - December 11, 2000

"With the commencement of rapid and efficient upscale manufacturing of our anti-HIV drug we have effectively accelerated the development of our lead product" declared Dr. Uri Sagman, President and CEO of C Sixty. "Consequently, our next milestone, namely the filing of an Investigational New Drug (IND) Application for approval by the Food and Drug Administration (FDA) in the United States should outpace initial development milestone forecasts and accelerate the introduction of our technology directly to studies in human clinical trials," added Dr. Sagman.

C Sixty is a world-leader in the research and development of fullerenes for medical applications. The company's Nobel Prize winning technology represents novel approaches to rational drug development and the development of leading edge technologies in the biotechnology sector.

C Sixty's Platform Technology is targeted at diverse market segments. The company's lead compounds have potential value in multi-billion dollar pharmaceutical markets for the treatment and prevention of cancer, AIDS, heart disease, diseases of the nervous system and arthritis amongst others. In addition to protecting the use of fullerene compounds as drugs, the company's intellectual property portfolio protects the use of certain fullerene compound families and drug delivery vehicles.

C Sixty was reported on in recent articles by the New York Times (October 10, 2000) and the Houston Chronicle (November 30th, 2000). The company and its use of the fullerene platform technology were profiled. The potential for widespread applications of C Sixty's technology in medicine, positions the company as a leader in the emerging field of Nanotechnology and its related Biotechnology market.

In a separate development, C Sixty formally announced its Board of Directors:

Chairman is Mr. Thomas I.A. Allen, Q.C. of Toronto. Mr. Allen is a securities lawyer and senior partner in the international law firm of Ogilvy Renault and serves on the boards of a number of organizations, including Middlefield Bankcorp Limited and Doreal Energy Corporation, Miranda Mining Development Corp., United Bolero Development Corp., York Medical Inc., Mount Sinai Hospital and the Samuel Lunenfeld Research Institute. Mr. Allen is also a public director of the Investment Dealers Association of Canada (IDA).

Dr. Uri Sagman MD, FRCPC, Director, is the founding President and CEO of C Sixty. He is a medical oncologist. Dr. Sagman is a recognized researcher in the field of clinical oncology and has had numerous publications in the field of tumour biology and immunology. Dr. Sagman is also the founder and President of GRN Health International Inc., an academically based global research organization and B Twelve Inc., a biotechnology company.

Mr. Jacques Sayegh, CFA, MBA, Director. Mr. Sayegh is the immediate past President and CEO (1990-1999) of the Royal Bank Capital Corporation (RBCC), Canada's largest financial institution. Mr. Sayegh has over 20 years of experience in merchant banking and venture capital with broad expertise in finance, technology, (biotechnology and information technology), and international markets.

Dr. Stephen R. Wilson Ph.D, Director. He is Professor of Chemistry and renowned expert in medicinal chemistry at New York University. He is a pioneer in fullerene chemistry. Dr. Wilson has published more than 40 publications on fullerenes since 1993, and has written two chapters - titled "Organic Chemistry of Fullerenes," and "Biology of Fullerenes" in a year 2000 published book from John Wiley & Sons - The Fullerene Handbook.

Mr. Paul A. Parisotto, Director. Mr. Parisotto is the President of Coniston Investment Corp., a firm which specializes in providing investment and merchant banking services to private and public companies in the technology, biotechnology and resource sectors. Prior to forming Coniston in 1999, he worked for over 4 1/2 years as a Senior VP in investment banking at two mid tier Canadian full service brokerage firms. Mr. Parisotto also worked for over 11 years at The Toronto Stock Exchange where he was responsible for the listing and ongoing regulation of over 250 companies.

Mr. Michael Fitton, Director. Mr. Fitton is President of William Multi- Tech. Mr. Fitton is the President of Advanced Capital Investments, which specializes in the formation and capitalization of companies in the technology and real estate markets. Mr. Fitton has over 20 years of experience in directing, managing, and developing business and technology companies. Mr. Fitton specialized in consulting companies on mergers, acquisitions, and development in the technology field. Mr. Fitton is the founder and former President of Unified Systems Solutions, Inc.

Mr. Gilbert Sharpe, Director. Mr. Sharpe is a partner with the law firm Cassels, Brock & Blackwell LLP and is head of their Health Law Group. He was the Director of Legal Services Branch, Ontario Ministry of Health from 1986 to 2000. He is Editor-in-Chief, "Health Law in Canada", author of "The Law and Medicine in Canada", Treasurer of International Academy of Law and Mental Health, Chairman of Annual Congresses of the Canadian Institute of Law and Medicine, Co-Chair of Mental Health Summit 1999-XXIVth International Congress on Law and Mental Health. He is considered one of the pre-eminent health lawyers in Canada.

Investor Conference Call: On Wednesday December 13, 2000 at 11:00 AM EST, the Management team of Multi-Tech will be holding a teleconference to update shareholders on the company's strategies and plans going forward and to comment on the third quarter financial results. To participate via the teleconference, please call 416-695-9747/888-280-8771. Shareholders will be able to participate in a question and answer session after the presentation made by Management. Please note these are the new numbers to call to participate in the conference call.

About Multi-Tech: (http://www.williammultitech.com) is focused on providing financing, strategic planning and management resources to aid companies in the Life Sciences, Technology and Entertainment sectors.

Multi-Tech has invested in the Life Sciences sector through C Sixty Inc, a private biotechnology company which is focused on the discovery, development, and the advancement of a new class of therapeutic drugs, diagnostics and medical devices based on the fullerene molecule, which is considered a "Platform Technology", with the potential for a large number of diverse applications in multibillion dollar markets. The company's technology is based on Nobel Prize award winning research and strategies in the biotechnology sector.

In the technology section Multi-Tech has invested in LeadingEdge Payroll Group Inc., ("LeadingEdge") eWinesource.com Inc., ("eWinesource.com") Revive Media Corp. ("Revive Media") and Infinite Loop., (Infinite Loop). LeadingEdge is Canada's only multi-dimensional payroll company that captures the entire payroll and Human Resources administration cycle, through a unique total outsourcing management approach. eWinesource.com is an Internet web portal company launching initially in the United States, which will provide informative content about wines and wineries to viewers globally, enabling them to critique, source and purchase products online from anywhere in the world, yet receive delivery from the local retail wine shop. Toronto based Revive Media is focused on two areas of growth in the Internet economy; producing unique and original content and providing strategic development and execution of on-line marketing communication in support of traditional off- line marketing communications for the youth market. Infinite Loop is a software development firm which specializes in providing companies with next generation web based software solutions for document management and retrieval. Its corporate mission is to focus on advanced search/indexing technology for ubiquitous document management.

Multi-Tech is assessing other transactions and expects to announce further developments in the near future.

The Toronto Stock Exchange has determined that Multi-Tech has changed the nature of its business and must meet all of the original listing requirements of the Exchange by December 31, 2000. If the Company fails to meet original listing requirements by the stated deadline, the Exchange may suspend trading in the Company's shares or require the Company to delist from the Toronto Stock Exchange.

SOURCE William Multi-Tech Inc.

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