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ProActive Computer Secures $5M in Financing Plans to List on Major European Stock Exchanges
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4 March 2004, 3:30pm ET

HOUSTON, March 4 /PRNewswire-FirstCall/ -- ProActive Computer Services Inc. (PAVP: Pink Sheets) has reached an agreement with a major European Financial Institution. The Institution has committed to a $5M financing package for PAVP; consisting of $1M in cash to purchase equity in the company and a $4M revolving credit facility. As a result of this deal and PAVP's new presence in the European Union (EU) investment community, the company has decided to apply for listing on several major European stock exchanges. PAVP is intent on capitalizing on the enlargement of the EU to include ten new member states on May 1st, 2004. This is a great opportunity for the company to gain initial access to over 100M new investors entering these markets, following their accession to the EU. To take advantage of this unique situation, PAVP has applied for a listing on the Budapest Stock Exchange and the Prague Stock Exchange, with more to follow. PAVP has received preliminary acceptance of its application to the respective stock exchanges as it has met the basic listing requirements.

PAVP is in serious discussions with private and public parties in other countries that have expressed a strong interest in investing a significant amount of capital. Details of the negotiations will be released once a letter of intent is signed with any of these parties.

Update on Fingerprint Technology Acquisition

Lawyers on both sides have reached an agreement and are finalizing the documents to complete the acquisition. PAVP would have liked to release the full details of the acquisition today, but due to unforeseen administrative delays it will be made public on March 9. PAVP has successfully purchased a public shell as stated in the February 26th press release. The company name and ticker symbol will also be provided on March 9. The fingerprint business will undergo a reverse-merger into this shell with current PAVP shareholders receiving spin-off shares in the new company. The spin-off distribution ratio (i.e. number of distributed shares in new company for each PAVP share held) as well as the shareholder date of record has not yet been determined. The company expects to release these details as well on March 9.

Addressing of Shareholder Concerns

Mentioned Last Change
PAVP 0.005 0.0002dollars or (3.84%)
PAVP has received several calls regarding the status of the name change to CortDev Inc. Fees were paid two months ago to complete this process. The company is still awaiting the new CUSIP number and ticker symbol, which should be assigned in a matter of days. As stated in prior press releases, the company is determined to complete this name change as soon as possible in order to accurately reflect its current business operations. Shareholders have also expressed concerns regarding the number of outstanding shares. According to the transfer agent, as of February 27th, 2004, there are 603,169,465 total issued and outstanding shares. This figure includes all restricted shares that have been issued to consultants and those held by the management team and insiders, including the CEO. In an effort to keep all investors in PAVP updated and well-informed with respect to current and future company developments, CEO Andrea Cortellazzi requests that all interested shareholders e-mail their full name and address (residence and e-mail) to [e-mail] . They will be sent a pamphlet on the CortDev Inc. project, which will include architectural images of the airport property under redevelopment and further details on the timeline. In addition, timely updates on the company's progress with respect to the CortDev Inc. project and fingerprint technology business will be e-mailed to the shareholder list.

For more information, please call 514-830-3348.

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. More information about potential factors that could affect the company's business and financial results may be obtained by contacting the company at by phone at 514-830-3348. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

Contact:
ProActive Computer Services Inc.
Andrea Cortellazzi, 514-830-3348

[e-mail]

SOURCE ProActive Computer Services Inc.
-0- 03/04/2004
/CONTACT: Andrea Cortellazzi of ProActive Computer Services Inc.,
[phone] or

[e-mail]

/
(PAVP)

CO: ProActive Computer Services Inc.; CortDev Inc.
ST: Oklahoma
IN: CPR STW ECM TLS MLM
SU: FNC

NM
-- NYTH156 --
7355 03/04/2004 15:30 EST

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