Strategic Internet Investments Incorporated Announces Resignation of Catherine Clarke-Luckhurst

Business Wire, Feb 6, 2002

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Feb. 6, 2002

The Board of Directors of Strategic Internet Investments Incorporated, (the "Company")(OTC:BB:SIII), has today accepted the resignation of Catherine Clarke-Luckhurst as Director and CEO of the Company.

Mrs. Clarke-Luckhurst tendered her resignation to the Company's board, citing as reason, the Company's inability to provide ongoing funding to Strategic Profits Inc. Mrs. Clarke-Luckhurst is president and CEO of Strategic Profits Inc. (`SPI") and her position on the Company's board was in conjunction with SPI activities.

In the last six months, due to the poor equity market conditions in general, and specifically, the contraction of internet related equity issuers capitalization's, the Company has been unable to secure sufficient working capital to fund the operations of SPI as contemplated under the parties business relationship. To date, a total of US $606,337 has been advanced as working capital to SPI, by the Company. The Company continues to search for additional equity capital to fund SPI's future business development.

SPI has initiated litigation in the Supreme Court of British Columbia, (court of original jurisdiction), Vancouver, Canada, against its alliance partners, Hewlett-Packard (Canada) Ltd., Telus Communications Inc. and Telus Advanced Communications for failure to perform under their binding agreement of December 2000. The litigation is ongoing.

Business continues to operate at Strategic Profits Inc. with continued ongoing application development, in particular, their Verified by Visa technology development in conjunction with Visa International. This application will take merchants to "card present online" with the objective to eliminate online credit card fraud.

Mrs. Clarke-Luckhurst has informed the Company that SPI does not expect there to be any interruption to its regular business operations as a result of the above litigation.

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

www.siiincorporated.com