"When we started to market the event early this year, we were cautiously optimistic about the recovery of the economy and of business IT spending," said Jacob Gordon, President & CEO of eCustomerWorld Institute. "However, recent market developments and the meltdown of the telecom sector are calling for an additional caution. Since the early 1920s, there has never been a post-recession period where the stock market has not reacted positively to signs of economic recovery. This divergence -- the fact that the stock market continues to fall while the economy in the US is recovering is very worrisome. Continual bad news about corporate transparency, corporate governance and fraud at the highest corporate level do not make things any better. We are continuing to witness weak business demand, lower capex, soft enterprise spending and industry fragmentation," adds Mr. Gordon.

"Over the past twelve years, we have always delivered top-tier industry-wide events to the benefit of our delegates, sponsors and exhibitors. In contrast, this year, we have no clear visibility as to market direction over the balance of the year and if the conditions in the marketplace will be able to support our event standards. Our decision to postpone the event is yet another casualty of the slowdown in IT spending, but in the long term, it will prove to be of benefit to all parties involved."

"We would like to take this opportunity to thank the industry leaders that have committed to the sponsorship of the event, the executives that have responded to our Call for Speakers, and those exhibitors that have registered for the show. We look forward to working with all of them once again in 2003 when market conditions become more favourable."

For the remainder of the year, the eCustomerWorld Institute will focus on delivering top quality educational programs targeted at Canada's "C" level executives within the framework of the "CIO Executive Club". To learn more about these activities, please visit www.CIOExecutiveClub.com.

About ECWI

The eCustomerWorld Institute is committed to encourage Canadian innovation and leadership. Its mission is to assist businesses to become more profitable and more competitive and the Institute plans to undertake collaborative research and development projects with the industry, the public sector and academia. Market surveys will allow the Institute to identify and gauge present market needs and future expectations. User surveys will provide effective ways to monitor the behaviour patterns of organizations and consumers alike. The Institute will disseminate the results of its research to its private clients on a consultative basis. For the business community at large, the Institute will offer a wide range of eBusiness education, consisting of conferences, seminars & training programs through the ECWI University. The Institute will also provide information through white papers and publications, as well as a free subscription to an electronic eBusiness newsletter and other online resources.

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For more information about ECWI, please contact (416) 467-0007.