Aludra Inc (f/k/a YAD.V)

[SSP]

ALUDRA INC ("YAD-V") - Proposed Major Corporate Changes
http://www.aludra.com
Aludra is pleased to announce the following proposed major changes in
its board, senior management, business focus and financial structure.

BOARD OF DIRECTORS

Aldo Baiocchi and Raymond Rabbani will be resigning from Aludra's
Board of Directors. Argirios Dimacopoulos resigned on December 1, 2001.
They will be replaced by Harold Albrecht, Neil Douek and Bonnie Kuhn. Mr.
Albrecht will be elected Chairman.

Harold Albrecht B. Comm., C.A., of Oakville, Ontario, has served in
senior financial positions with two private entrepreneurial corporate
groups and has founded or co-founded a number of start-up companies, one of
which, Pinnacle Resources, was subject to a $1 billion takeover in 1998.
Among other achievements, he signed the NHL franchise agreement on behalf
of the Edmonton Oilers and has received a number of U.S. patents for new
products he has developed. Mr. Albrecht has public practice experience
with both PricewaterhouseCoopers and KPMG.

Neil Douek, of Nassau, Bahamas, is currently the managing partner of
DKP Capital Management Inc. He previously held the position of Vice
President and Director of Stanford Securities Corp., a Limited Market
Dealer in Toronto. Mr. Douek has acted as a consultant to Telezone
Corporation and Weniwen Technologies Limited (Hong Kong), as well as being
an officer of American Express Bank, New York. Past and current Board of
Director memberships include, DKP Capital Management Inc., Stanford
Securities Corp., CITCO (Canada), Inc., PEG 97 Management Corporation,
Thales Fund Management Inc., Northern Star Fund Management Inc., and other
private companies. Mr. Douek attended McGill University.

Bonnie Kuhn, of Calgary, Alberta, is a lawyer with Field Atkinson
Perraton LLP since June 2001. Prior thereto, she was a solicitor with the
firm of Armstrong, Perkins Hudson (previously Ogilvie and Company,
Barristers and Solicitors, Calgary, Alberta), from 1994 to 2001 and a
partner since 1999. She is a member of the Law Society of Alberta and the
Canadian Bar Association. Ms. Kuhn currently practices law in the areas of
natural resources, corporate commercial and securities laws. Ms. Kuhn is
also a Director, Chief Financial Officer and Secretary of Minera Andes
Inc., a mineral exploration company. As well she is a director of Tajzha
Ventures Ltd., an oil and gas exploration company. She attended the
University of Manitoba.

SENIOR MANAGEMENT

Harold Albrecht will be appointed Chief Executive Officer and
President by the Board. He is currently a consultant to the Corporation
and has been instrumental in changing its strategy from being a very broad
based digital services provider to focusing the Corporation's efforts
exclusively on providing retail technology solutions.

Cliff Jones will be appointed Chief Operating Officer. He was
previously the President of Sweda Canada Inc., a private company that is
the largest Point-of-Sale dealer within the Grocery and Hospitality
Industries in Canada. In his two-year tenure with Sweda Canada, he was
responsible for restructuring the company and establishing new markets,
resulting in improved sales margins and growth. Prior to Sweda, he held
executive positions with NCR in Europe and Canada, with a particular focus
on sales and professional services. Cliff's qualifications include Honours
B.Sc and MBA degrees.

BUSINESS FOCUS

Aludra was incorporated on June 24, 1997 and began operations as a
full-service graphic design and multimedia firm. It expanded its services
to include media solutions for Internet applications in 1998. Clients
included AOL, Mattel, Paramount, Activision, ADP, TD Waterhouse, Toronto
Maple Leafs, Headline Sports Cable Channel and Tridel. Aludra went public
in August of 2000.

i) Aludra ProPOS

In January of 2000, The Beauty Supply Outlet ("BSO"), a 30-store
retail franchise chain founded in 1993, commissioned Aludra to design a
point of sale software solution because they were unhappy with their
existing system and were not impressed with other available solutions.
Aludra's initial solution, called ProPOS was first deployed at BSO in
October of 2000.

ii) Aludra RMS

This initial exposure to the retail industry caused Aludra to take
note of the opportunity that existed in taking an enterprise resource
planning approach to store systems. In November of 2000, the decision was
made to move forward with the development of an integrated retail solution
utilizing the latest technology. Faisal Nasir, previously Director of
Information Technology at Hospitality Solutions International, joined
Aludra in January 2001 with a team of developers who were given the mandate
to develop this product. Further substantial resources were added to the
project in August 2001. This enterprise retail solution, called Aludra
RMS, was released on February 1, 2002. Development costs to that date were
approximately $1 million.

On February 11, 2002, Aludra entered into an agreement with BSO that
calls for the installation of Aludra RMS at all BSO outlets after a
successful 90-day trial at three of its existing stores. Although Aludra
has agreed to provide its RMS software solution at no cost to the first 100
BSO stores, the Corporation expects to earn between $100,000 and $150,000
in revenues from this contract over the next 12 months from staging,
set-up, support, installation and training revenues. BSO is receiving the
first 100 licenses at no cost in return for functioning as a test and
reference site for the Aludra RMS product. The current market price for
these licenses is $3,000 for the first license and $1,500 for each
additional license required per retail outlet.

Aludra intends to begin distributing its RMS software through dealers
after the successful completion of the 90-day trial at BSO and plans to
attend a Retail System Dealer Show in Las Vegas in August, 2002. The
Corporation also intends to attend the Retail Systems 2002 Conference &
Exposition in Chicago in June, 2002. This show attracts retailers who are
looking for point of sale and other retail management solutions.

Aludra RMS modules immediately available include Point of Sale, full
inventory management at store and chain level, purchasing and supplier
management, labour scheduling, customer loyalty and contact management, and
full data base analysis and reporting facilities. Integrated accounting
and E-commerce support are also available. Information can be accessed
in-store, from Head Office, from any remote Internet location, or from any
device with built in WAP (Wireless Application Protocol) such as a RIM
Blackberry, Palm Pilot or mobile phone.

Single store retailers, or retail chains, requiring a powerful and
flexible system to allow the tracking of inventories, full margin and
profit analysis, fully integrated customer history, tracking loyalty and
management, as well as reporting at store or head office level, will be
able to utilize the features within the Aludra RMS suite.

Aludra is also pleased to announce a joint agreement with RBA Inc., of
Montreal, Quebec. Under this agreement RBA, with 36 centers across Canada,
will provide comprehensive on site service and support to Aludra customers
across Canada.

FINANCIAL STRUCTURE

Aludra will significantly improve its working capital situation
through the conversion of $894,250 of debt into 3,577,000 common shares and
the extension of repayment terms on a further $140,000 in debt to January
1, 2005. The common shares issuable on conversion of the debt will be
subject to a 12-month hold and are therefore not tradeable until March 1,
2003. The Corporation will have 13,957,000 shares outstanding after the
debt conversion.

The Corporation has also reached an agreement to terminate its lease
at 1 Woodborough Avenue, Toronto, Ontario, effective December 31, 2001,
resulting in cost savings of over $120,000 annually. Discussions are also
underway concerning the restructuring or elimination of approximately
$150,000 in total equipment lease obligations.

In addition, approximately $75,000 due to Mr. Baiocchi pursuant to
loans he made to the Corporation has been forgiven, thereby reducing the
amount payable to him to $54,000. Monthly payments of $4,500 are scheduled
to commence on April 1, 2002.

REINSTATEMENT OF TRADING

The Corporation is currently working with the Canadian Venture
Exchange Inc. on the reinstatement of trading of the Corporation's common
shares which management expects to occur by the beginning of March.

TEL: [phone] x 135 Aldo Baiocchi, Chairman
Harold Albrecht, Consultant
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