Newsletter

December 5, 2001

Volume IV, Issue 104

Email : info@otcjournal.com
URL : http://www.otcjournal.com

To OTC Journal Members:

XML Global Technologies (OTC BB: XMLG)- New Contracts Still Coming In

Today, just after the market closed, XML Global issued a press release. The company announced that Swiss based Zurich Financial Services has chosen GoXML™ Transform to facilitate its XML/EDI data transformation process.

As covered in previous editions, XML is the programming language which experts believe will revolutionize the way massive corporate and government computer systems talk to each other.

Zurich Financial provides international integrated financial services. They have offices in 60 countries, over 70,000 employees, and had net income in 2000 of $2.33 billion. This company represents the ideal market segment for XML Global's products.

Each new contract with customers of this magnitude helps mitigate the risk associated with the stock and provides further evidence XML Global's transformation software products could emerge as leaders in this market segment.

The highly anticipated XML revolution has been stalled by world wide recession and limited IT budgets at major corporations. B to B stocks have been clobbered throughout the past year.

After coming through a challenging period, XML Global has been demonstrating their product is being accepted.

It is our belief that due to market conditions XML Global has fallen a year behind where we originally thought they would be. Therefore, we believe the company will have recovered into the $1 range sometime in the Spring, which coincides with where the stocks was when we originally covered the situation.

From current levels, this would represent a 300% return on your investment. However, bear in mind we believe this is the riskiest situation we cover. Until the company becomes cash flow positive this is a high risk/high reward situation.

Here is the complete text of the news release for your review:

FOR IMMEDIATE RELEASE

Press Release

Zurich Financial Services Selects XML Global’s GoXML™ Transform for its EDI/XML Transformation Needs

Vancouver, BC, December 5th, 2001 - XML Global Technologies, Inc. (OTC BB: XMLG), an XML middleware company, announced today that it has signed a purchase contract with Zurich Financial Services which has chosen GoXML™ Transform to facilitate its XML/EDI data transformation process. GoXML™ Transform is a powerful and patented solution for the dynamic exchange of XML, EDI and other data formats, and is ideally suited to the data transformation requirements in the financial services industry.

Zurich Financial Services, as one of the world’s leading financial institutions, has critical business relationships with a wide range of international financial institutions including banks, trust companies and asset management firms. To facilitate the efficient sharing of data between these various institutions in a common and mutually understandable format, Zurich Financial first needed EDI/XML data transformation capabilities. GoXML™ Transform is able to provide this solution with its powerful and patented XML transformation engine that will allow all business partners to transform their data, whether it be EDI or other legacy systems, into XML and back again.

"We did a comprehensive evaluation of the industry's leading data transformation solutions by looking at functionality, performance, scalability and vendor responsiveness, and chose GoXML™ Transform to drive our data transformation needs," said Tarmo Ploom of Zurich Financial Services. "We chose XML Global’s product because it will enable us to most rapidly and cost effectively deliver the EDI/XML data transformation requirements we and our clients need.”

“XML data transformation technology is critical to the growth of the financial services industry,” stated Peter Shandro, CEO of XML Global, “Inefficiencies can arise when critical information is not available to everyone because it is distributed in a variety of formats across multiple legacy sources. Zurich Financial has demonstrated their understanding of this problem by choosing GoXML™ Transform to ensure that all participants in their IT network have speedy and efficient access to same information in the same format.”

About Zurich

The Zurich Financial Services Group (www.zurich.com) is a global leader of integrated financial services, providing its customers solutions in the areas of financial protection (non-life insurance and structured solutions) and asset gathering (life insurance and asset management). The Group has offices in more than 60 countries employing 70,000 people. In 2000, the Group achieved gross premiums of $50 billion. This amount includes insurance deposits as well as premiums from the Farmers P&C Group. The net income was $2.33 billion. On December 31, 2000, the Group had $440 billion of assets under management of which $259 billion represents funds managed for third-party institutional and retail customers.

About XML Global Technologies, Inc.

XML Global Technologies, Inc. is an XML middleware company focused on providing a methodical approach to the adoption of XML-based solutions. The Company’s GoXML™ Transform product line provides a family of three complementary solutions based on a patented XML-centric data transformation engine:

§ Foundation includes mapping capabilities, automatic document recognition, EDI (electronic data interchange) transaction support, and a native XML repository.
§ Server extends Foundation’s capabilities with workflow control. It provides connectors to backend systems, queuing, scheduling, and recovery and offers plug-ins for IBM’s MQSeries.
§ Central broadens the capabilities of transformation solutions to Web service environments and allows them to integrate metadata registries.

The GoXML™ Transform product line allows a controlled transition to XML by offering modular and open systems solutions that complement existing applications and infrastructure.

The Company is an active member of the ebXML, UDDI, OAG and OASIS standards initiatives. Founded in May 1999, XML Global has its US headquarters in New York, NY, and a research and development office in Vancouver, BC. To find out more about XML Global Technologies (OBB: XMLG), visit our website at www.xmlglobal.com

PR Contact Information
Contact Anthony Dutton
Director of Corporate Communications
Phone 1-604-717-1100 ext.112
1-800-201-1848 ext.112
Fax 1-604-717-1107
Email anthony.dutton@xmlglobal.com
Web www.xmlglobal.com

Forward Looking Statements
All statements are based on XML Global Technologies, Inc.’s current knowledge and specific assumptions with respect to future business decisions. The actual results of XML Global Technologies, Inc. may differ materially from those indicated by these forward looking statements as a result of various important factors, including, but not limited to, those discussed in the Risk Factors section of XML Global Technologies’ recent registration document, SB-2/A, which is on file with the Securities and Exchange Commission.

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