Orbit E-Commerce to Acquire VoIP Network Assets and a License to Use Technology to Provide Telephony Services via Cable

Market Wire, October, 2003

Orbit E-Commerce, Inc. (OTC BB: OECI) today announced it has entered into an agreement with GAN & Associates Inc. ("GAN") to acquire its interest in certain Voice over Internet ("VoIP") network assets in exchange for stock in OECI. The closing documentation is expected to be completed within the next two weeks at which time OECI will own 100% of what was the Phoenix TelNet VoIP network assets.

The VoIP network assets include points-of-presence in 26 major urban centres in the United States, a Network Operations Centre ("NOC") and customer call centre in Toronto, as well as proprietary automated billing and administrative systems. The cities covered by the network comprise an approximate population of 75 million people and include, among others, the greater metropolitan areas of New York, Los Angeles, Chicago, San Francisco, Atlanta, Miami, Boston, Dallas, San Diego, Houston, and Washington, DC.

With the acquisition of the network assets, OECI will have administrative offices and client service facilities in Toronto, enabling 24/7 monitoring of all network facilities and comprehensive in-bound call centre services for customer support. OECI will manage, market, and operate the network under a unified management team headquartered in Toronto.

OECI will also be acquiring a license to use proprietary technology (patent pending) to provide local and long-distance Internet-based telephony services via cable networks.

As a result of these acquisitions, OECI's balance sheet will be significantly strengthened. This will assist the Company in raising capital and acquiring a listing for its stock on the American Stock Exchange ("AMEX"). OECI believes moving to AMEX will have a significant positive impact for its shareholders.

The acquisition of these two formidable assets will place OECI in a strong competitive position to market and sell leading edge communications services in the United States. A marketing team has been put in place to move quickly to capitalize on VoIP/cable TV market opportunities.

OECI is pleased to announce that Greg A. Neely, the chairman of GAN will be joining its Board of Directors. Mr. Neely, a professional accountant by training, has extensive experience in managing telecommunications assets as he was deeply involved in the early stages of the cellular communications industry. During his business career he acquired and then, in 2002, sold a cellular license and operating system to Verizon Wireless. Through GAN, Mr. Neely has as a variety of interests in the real estate and hospitality sectors.

In commenting on the transaction, Mr. Neely stated, "Now that the network is fully operational, we are looking forward to building our customer base and revenue in the immediate future, particularly with the introduction of OECI's Internet-based cable telephony technology. I would compare the advent of this solution to that of the cellular telephone industry in that it will add a new and cost effective way for families to communicate. There is a significant opportunity for immediate success for the early entrants to the VoIP/cable solution market for voice delivery and I have the utmost confidence in OECI's management team and their ability to maximize the value of the network assets." Douglas C. Lloyd, the President and CEO of OECI stated, "This transaction represents the culmination of extremely hard work over the past year by both OECI and GAN to build a state-of-the-art VoIP network in the United States. Our partnership with GAN has been mutually rewarding on a number of levels and we welcome Mr. Neely to our Board."

About Orbit E-Commerce Inc.

With the 26 city VoIP network, OECI will be positioned to offer directly to residential/business subscribers a bundled service comprising Internet dial-up access with packaged minutes of long-distance calling at any time of the day throughout the United States. With the licensed cable telephony technology, OECI will also be able to offer local area and long distance calling via cable service providers. These services will be accessible from any home phone or cellular/mobile unit. With the network's capabilities, additional services such as prepaid calling cards, low-cost international calls, and video conferencing are being planned along with anticipated expansion into the small-to-medium size business markets to ultimately provide complete nationwide coverage. OECI's strongly competitive price levels reflect the low operating cost of VoIP long distance services and the Company's highly automated administrative and billing systems.

This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of Orbit E-Commerce, Inc., nor shall there be any sale of any such security in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This and other news releases from Orbit E-Commerce may contain forward-looking statements with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "potential," or future/conditional verbs such as "will," "should" and "could" or variations of such words and similar expressions identify forward-looking statements. However, their absence does not mean that the statement is not forward-looking.