May 21, 2002

News Release: Q2 Revenue of $2,062,955 with Net Income of 17%

VANTAGEPOINT SYSTEMS INC ("VPG-V")
VantagePoint Systems, Inc., a developer of business management software for the packaging industry, announced that revenues for Q2 2002, (ended March 31, 2002) increased by 121% over the prior quarter, growing to 2,062,955 from $934,925 in Q1. Revenues for the six-month period ended March 31, 2002 have grown by 21% to $2,997,877 from $2,481,236 for the same period last year. All revenue streams, including software licenses, professional services and maintenance fees showed growth over last quarter. Notably, software license fees of $805,272 in addition to $640,997 in fees from professional services were substantially higher than for the previous quarter, showing strong growth and reflecting the fact that the company has begun delivering on new business signed in Q1 2002.

"This quarter we began to realize the financial benefits of the Menasha Packaging contract negotiated last quarter. The long term nature of this contract, our current new business outlook, and our long-term relationships with current customers provide us with a solid backlog of business for the remainder of the year, said Jim Hennings, president and chief executive officer at VantagePoint. "In addition to our current base of revenue, we are devoting a tremendous amount of effort into engaging new customers and pursuing strategic alliances that will allow us to penetrate new areas of the packaging manufacturing market."

Earnings

VantagePoint recorded income from operations for the three months ended March 31, 2002 of $600,504 with a net income of $352,556, which is 17% of revenues. Earnings per share for the quarter were $0.03. VantagePoint continues to invest in sales and marketing activities to meet revenue goals and has hired professional staff to fulfill signed contracts resulting in an increase of expenses over last quarter - more than offset by the increase in revenues.

Milestones

In support of the corporate goal to accelerate sales and marketing efforts, VantagePoint hired technology sales expert, Enzo DiMichele, to the position of vice-president of sales and added key personnel to assist with shareholder communications, in addition to working with high-tech marketing communications firm, Go Communications. VantagePoint formulated a new branding program that reflects product breadth and to introduce their 360-degree product vision. New product names include Team VantagePoint, Business VantagePoint and Customer VantagePoint. VantagePoint also began campaigning in earnest during Q2 to generate sales leads among packaging community members for the Team VantagePoint product.

About VantagePoint Systems, Inc.

VantagePoint develops and markets business management 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. Business VantagePoint(TM), a back-office Enterprise Resource Planning (ERP) system, operates in over 100 paperboard packaging plants throughout North America and Europe. Team VantagePoint(TM), the first true Customer Relationship Management solution designed specifically for packaging manufacturers is sold separately, or integrated with Business VantagePoint to provide a 360-degree solution. Key customers include Menasha Packaging Company, Columbus Container Inc., Gaylord Container, and Smurfit-Stone. VantagePoint trades on the TSX Venture Exchange under the symbol VPG. For more information, visit www.vpgroup.com.

The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain information included in this press release, as well as information included in oral statements or other written statements made or to be made by the Company contains statements that are forward-looking, such as statements relating to anticipated future revenues of the Company and success of current product relating to anticipated future revenues of the Company and of current product offerings. Such forward- looking information involves success, important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. For a description of additional risks and uncertainties, please refer to the Company's filings with the British Columbia Securities Commission.

(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. TEL: (604) 685-4209 x 226 Press Contacts: Louise Quinn, Corporate

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