March 24, 2004

News Release: Rutter receives conditional approval to list on Toronto Stock Exchange

Rutter Technologies Inc. (TSX Venture: RUT), a global marine technology enterprise, announced today that it has received conditional approval to list its common shares on the Toronto Stock Exchange (TSX). Subject to receipt of final approval, trading is expected to commence during the week of March 29, 2004 under the name Rutter Inc. and the symbol 'RUT'.

'The promotion to the TSX is an important milestone for our company,' said Donald Clarke, Chairman and CEO of Rutter Technologies. 'The TSX Venture Exchange was an excellent platform for our initial public offering. As we drive our growth strategy, we expect that the senior exchange will help us raise our profile, increase liquidity and expose Rutter to a larger base of potential investors.' Rutter is currently listed on the TSX Venture Exchange ('RUT') and will be delisted concurrently with the listing on the TSX. The company has 36,061,667 shares outstanding.

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.

%SEDAR: 00008015E

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

WEBSITE This email address is being protected from spambots. You need JavaScript enabled to view it.