FSC / Press Release
 
OceanLake Expands R&D Presence In Singapore To Meet Customer Demands
 
Santa Clara, CA, Toronto, ON, Singapore, - October 1, 2004 – OceanLake Commerce Inc. (TSXV:OLI) is pleased to announce it is increasing the level of technology research in Singapore with the assistance of the Singapore Economic Development Board (EDB). Singapore presents a pro-business environment where there is a large supply of technology talent and government entities that promote research capabilities for companies entering the South East Asia market. Government agencies like the Singapore (EDB) help new Companies plan and execute strategies in order to sustain Singapore as a compelling global hub for business and investment. It enables multinational and Singapore-based companies to enhance and upgrade to higher value-creating operations and utilize Singapore as a platform to engage regional markets.
 
OceanLake will utilize the support provided by the Singapore EDB to enhance current and future product development projects. Their assistance will help OceanLake penetrate the South East Asian market at a much higher rate.
 
"The Singapore EDB's assistance in the setting up of our Singapore R&D and Asian Headquarters simplified a very difficult process for any business entering a new market." said Steven Moya, OceanLake CEO.
 
"With over 100 million mobile subscribers in South East Asia, and the fact OceanLake’s technology has been further validated with the signing of two sales contracts (a financial institution and the Jakarta Post), the immediate future looks very promising. Using Singapore as the hub for OceanLake's activities combined with the meaningful support from the local government has made a tremendous difference with our new and potential clients. We are extremely pleased to work with the Singapore EDB and look forward to their continued support," continued Steven.
 
More Information about OceanLake and its products can be found at www.oceanlake.com
 
About EDB
Established in 1961, the Economic Development Board (EDB) is the lead government agency responsible for the formulation and implementation of economic development strategies that will develop Singapore into a compelling global hub for business and investment across manufacturing and internationally traded services. For the Infocomms and Media industry, EDB's mission is to develop Singapore into a global hub in Asia for the digital economy where companies can create, develop and deliver content and innovative services for the global market. The EDB has been attracting leading global companies here while developing Singapore's capabilities in the key areas of electronic commerce, Internet services, media and digital entertainment, telecommunications and specialist information publishing.
 
About OceanLake Inc.
OceanLake provides mobile Internet-enabling software for corporate enterprises, financial institutions, service providers, and telecommunications carriers. OceanLake's flagship product, mScope, immediately enables any existing Internet infrastructure to be accessed from any Internet-enabled wireless device in real-time, including the dynamic content of enterprise-wide applications such as sales force automation and customer relationship management. The only device- and platform-agnostic "drop-in" product of its kind, mScope seamlessly integrates into any Web-based application for fast, easy and cost-effective deployment with no need for additional application development. OceanLake is dedicated to helping businesses access critical resources through mobile devices, allowing people to "take the world with them." The company has offices in Santa Clara, California, Toronto, Canada and Singapore. OceanLake is a publicly traded company on the TSX Venture Exchange and currently has an approximate market capitalization of $12 Million.