December 31, 2003

News Release: Rutter Technologies Signs Letters of Intent to Purchase EJE Trans-Lite Inc. and Battery Tech Ltd.

Rutter Technologies has signed letters of intent to purchase EJE Trans-Lite Inc. (EJE) and Battery Tech Inc. on or before January 30, 2004. Under the arrangements, which will not involve finder's fees or cash, Rutter will acquire 100 per cent of the shares of both companies for $851,000, payable in the form of Rutter Technologies Inc. common shares issued at $1.65 per share. Combined revenues for the twelve months ended January 31, 2003 and the seven months ended August 31, 2003 were $1,628,073 and $1,075,192 respectively. As Rutter insiders own significant proportions of these companies, these acquisitions are subject all to related TSX Venture Exchange regulations. While independent valuations have been completed, closing is also conditional upon completion of final due diligence by Rutter and approval by its Board of Directors and appropriate securities commissions.

        About EJE Trans-Lite Inc. - Founded in 1988 to complete research and
        development on portable helicopter landing systems and marine safety
        lights, EJE now supplies a diversified line of safety lights for
        specialized applications. Products include an International Maritime
        Organization (IMO) certified Digi-Lite used as a locator light on the
        life vests of approximately 80 per cent of the cruise lines operating
        out of the United States. Other marine-related products include a
        Coast Guard certified Digi-Lite and military and commercially
        marketed raft safety lights. Most recently the company has introduced
        a line of flashing, strobe and magnified aviation lights that meet
        differing commercial and military aviation specifications.

        About Battery Tech Inc. - Using a labour intensive spot-welding
        process called 'tabbing', Battery Tech supplies custom configured
        lithium battery assemblies solely to EJE Trans-Lite for use in most
        of its products.

'EJE and Battery Tech are small but profitable enterprises involved in the supply of marine safety lights and related products to essentially the same clients as Rutter supplies to,'said Donald Clarke, Chairman and CEO of Rutter Technologies Inc. 'Battery Tech's success is tied directly to the performance of EJE. We will absorb these companies into Rutter Technologies operations and leverage our marketing channels and R&D capability to expand the product line and diversify product sales and distribution. These companies are a good fit with existing operations and will give us more to offer our customers while contributing to Rutter's growth and diversification strategy.'

About Rutter Technologies - Represented worldwide, Rutter Technologies Inc. is a global marine technology enterprise focused on the business of providing cost effective access to innovative 21st century marine technology solutions that improve the efficiency and safety of maritime operations. Key divisions are involved in product development and marketing, systems engineering and manufacturing. For more information go to www.ruttertech.com

This press release may contain forward-looking statements that involve risks and uncertainties. These forward-looking statements reflect our current expectations and are subject to a number of risks and uncertainties including, but not limited to, change in technology and general market conditions. Due to the many risks and uncertainties, Rutter Technologies Inc. cannot assure that forward-looking statements that may be contained in this press release will be realized.

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

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For further information: Communications Director, June Perry (709) 753-0794 or (709) 682-2682 or VP Corporate Affairs, Clarence Dwyer (709) 368-4213



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