August 21, 2002

News Release: Q3 Profit and 25% Revenue Increase to $2.5 Million

VantagePoint Systems, Inc. (TSX-Venture: VPG), a developer of business management software for the packaging industry, reported another positive quarter for its third quarter ended June 30, 2002. Revenue increased to $2,585,885, which is 25% greater than the prior quarter, Q2. Net income for the quarter was $256,923 after tax, bringing year-to-date net income to $411,060 on year-to-date revenues of $5,583,765. Revenue from both software licenses and professional services gained strength from Q2 to Q3 as VantagePoint delivers on current contracts. Operating expenses increased over the prior quarter from $1,462,451 to $1,958,303 due to the addition of client services personnel and continued investment in sales, marketing, and acquisition-related activities.

Jim Hennings, president and chief executive officer at VantagePoint said, "VantagePoint's primary goal for this fiscal year is to gain increased market share and grow revenues through both new contracts and acquisition activities, while at the same time maintaining profitability. To date we have achieved both objectives."

Income from Operations and Earnings per Share

VantagePoint recorded income from operations for the three months ended June 30, 2002 of $627,582 with a net income after tax of $256,923. Earnings per share for the quarter were $0.02, and are $0.03 for the year to date. VantagePoint completed the acquisition of UK-based Avalon Printing Software, Ltd. during Q3 and Avalon operations have been included in the consolidated reports from June 19, 2002 forward.

Milestones

Consistent with VantagePoint's strategic plan to provide software solutions to the entire packaging industry and grow its customer base, the Avalon acquisition rounds out VantagePoint offerings with a technically-robust business software offering for high-value retail packaging markets such as folding cartons, flexible packaging, labels, and food & beverage containers. The acquisition provides VantagePoint with immediate presence in the retail packaging sector including a state-of-the-art software offering, a team of experienced industry professionals, and an existing customer base. VantagePoint will market Avalon's software under the new brand "Business VantagePoint(TM) for Retail Packaging."

Together, VantagePoint and Avalon professionals offer extensive packaging market expertise and software solutions that address the needs of virtually any type of packaging manufacturing company.

Earnings Conference Call
The Company will be hosting an earnings report conference call Thursday
August 22nd at 12:00 pm Pacific Time or 3:00 pm Eastern Time. The call
can be accessed by phone by dialing 1-416-695-3128 or 1-800-377-0758 or
via the Web at:
English Event URL:
http://www.newswire.ca/webcast/pages/VantagePointSystems20020822
French Event URL:
http://www.cnw.ca/webcast/pages/VantagePointSystems20020822

If you are unable to attend the original call, you may subsequently
listen to the playback at 1-416-695-5800 or 1-800-408-3053, access code
1245752 followed by the pound sign, for 1 week after the call or by going
to either of the links above for 90 days following the call.

About VantagePoint Systems, Inc.

VantagePoint develops and markets core business software designed specifically for multi-plant packaging manufacturing companies. Since 1992, VantagePoint professionals have made packaging businesses worldwide more competitive by providing solutions that maximize plant and worker efficiency, increase customer satisfaction, and improve profitability. VantagePoint's core business solutions, Business VantagePoint(TM) for Corrugated Packaging and Business VantagePoint(TM) for Retail Packaging, operate in over one hundred and thirty packaging plants throughout North America and Europe. Key customers include Menasha Packaging Company, International Paper, Smurfit-Stone, Columbus Container Inc., and other leading packaging manufacturers. VantagePoint trades on the TSX Venture Exchange under the symbol VPG. For more information, visit www.vpgroup.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

(C) 2002 VantagePoint Systems, Inc. All Rights Reserved. VantagePoint, Business VantagePoint and Team VantagePoint are trademarks and/or registered trademarks of VantagePoint Systems, Inc. All other trademarks are trademarks and/or registered trademarks of their respective owners.

For further information: Press Contacts: Louise Quinn, Corporate
Communications, (604) 685-4209 x 226, louise.quinn(at)vpgroup.com; Patrick
DeWitt, Investor Relations, (604) 685-4209 x 267,
patrick.dewitt(at)vpgroup.com

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