Cap Gemini Ernst & Young Germany & GlobalTrade Corporation Help Banks Move Towards Paperless Trade

Companies will work together to offer Consultancy and IT Services to Financial Institutions, Corporate Customers and Trade Service Providers Focused on Electronic Trade Services

Toronto & Berlin, April 24, 2002 - Cap Gemini Ernst & Young Germany, an affiliate of the CGE&Y Group (PSE:PCAP; www.de.cgey.com), one of the largest management and IT consulting firms in the world, GlobalTrade Corporation, (www.globaltradecorp.com), a global service provider to financial institutions and facilitator of @GlobalTrade™, Internet based trade processing and document management system, today announced that they have signed a Strategic Alliance Agreement to market, pilot and integrate GlobalTrade Corporation's @GlobalTrade™ Secure Payment and Trade Management System with the existing systems of importers, exporters, banks and trade service providers. Cap Gemini Ernst & Young Germany will provide local expertise in consulting services, market knowledge and introduction of GlobalTrade Corporation's products and services to its existing customer base in Austria, Germany and Switzerland. GlobalTrade Corporation will provide eUCP compliant business solution for trade services that would greatly enhance the efficiency of a foreign trade transaction.

'Starting this month The Supplement for Electronic Presentation ("eUCP") to the ICC's UCP 500 comes into force accommodating presentation of electronic records,' said Jacob Katsman, GlobalTrade Corporation's CEO. 'Together with Cap Gemini Ernst & Young Germany we will offer assistance in the analysis, implementation, integration and management of electronic solutions for trade services.'

'@GlobalTrade from GlobalTrade Corporation is the first solution which has been designed under the requirements of the eUCP,' said Urs Kern, Managing Consultant with CGE&Y Germany. 'The alliance with GlobalTrade Corporation will give us a strong additional background and competence relating to our trade service consultancy activities.'

About Cap Gemini Ernst & Young

The Cap Gemini Ernst & Young Group is one of the largest management and IT consulting organisations in the world. The company offers management and IT consulting services, systems integration, and technology development, design and outsourcing capabilities on a global scale to help businesses continue to implement growth strategies and leverage technology in the new economy. The organisation employs some 56,500 people worldwide and reports 2001 global revenues of more than 8.4 billion euros. More information about individual service lines, offices and research is available at www.cgey.com. For information regarding the GlobalTrade Corporation/Cap Gemini Ernst & Young alliance please contact Urs Peter Kern (urs.kern@cgey.com).

About GlobalTrade Corporation

GlobalTrade Corporation (GTC) is a software development house and applications service provider.  GTC designs, develops and manages innovative, collaborative products and services for global trade services.   The Company services producers and traders that require multi-bank information exchange and document management systems for handling risk exposure and clean document creation, and financial institutions that require secure electronic data exchange with their corporate customers.  @GlobalTrade™ is a registered trademark of GTC.