March 17, 2004

News Release: Progress Magazine Names Rutter Atlantic Canada's Fastest Growing Company

Rutter Technologies Inc. (TSX Venture: RUT), a global marine technology enterprise, announced today that it has been named the fastest growing company in Atlantic Canada by Progress Magazine.

The survey ranked 40 companies from 19 industry categories with minimum annual revenue of more than $1 million. Rutter Technologies topped the list with revenue growth of 2,085% from 2001 to 2003 and employee growth of 1,613% over the same period. 'We are pleased to be named the fastest growing company in Atlantic Canada,'said Donald Clarke, Chairman and CEO of Rutter Technologies. 'Since 2001, we have commercialized our voyage data recorder technology, consolidated and grown our position in this market, and further expanded the company through new products and strategic acquisitions of complementary technologies and businesses. Today, we are a global marine technology company with strong opportunities in a number of growing markets.'

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.

About Progress Magazine

Progress magazine is Atlantic Canada's leading business magazine committed to promoting a mindset of profitable business growth and the rise of Atlantic entrepreneurship.

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.

For further information: Communications Director, Paul Snow, (709) 753-0794 or (709) 685-4403 or VP Corporate Affairs, Clarence Dwyer, (709) 368-4213

News release via Canada NewsWire, Halifax 902-422-1411

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