iWeb Communities: Blog

MONTREAL, QUEBEC –(Aug. 24, 2004) - Leonids Investments inc. (“Leonids”) (TSX Venture Exchange: LI.P – News) announces that it has closed today the acquisition of all the outstanding shares of iWeb Technologies Group inc. (now known under the name iWeb Technologies inc.) in exchange for 17,721,692 common shares of Leonids. Leonids also closed its concurrent placement in the amount of $240,000 pursuant to which it issued 1,200,000 Common Shares of Leonids.

In the next few days, Leonids will modify its name to Groupe iWeb inc.\ iWeb Group Inc. and its symbol on the Exchange will be IWB. The symbol change will become effective when the TSX Venture Exchange will have published its final bulletin approving the qualifying transaction.

Through its new wholly owned subsidiary, Groupe iWeb inc.\ iWeb Group Inc. is in the business of web site and dedicated hosting and the management of servers for SMEs in the French, English and Spanish speaking markets all over the world. Founded in 1996, iWeb Technologies inc. has more than 8,500 clients in 48 countries. A new version of the Website may be consulted at the following address: www.iweb.ca.

iWeb Technologies’ management team is comprised of the following persons: Eric Chouinard, B.A.A., President and Chief Executive Officer; Martin Leclair, Vice President and Chief Operating Officer; Marc Guindon, CA, Chief Financial Officer; Hugo Denommee, Manager, Technological Development; Sylvain Leclair, Manager, Business Development; Hugo Moranville, Manager, Accounting and Administration et Cyrille Mertes, Manager, Networks and Systems.

Leonids and iWeb wish to thank the law firm BCF (Brouillette Charpentier Fortin) of Montreal, the accounting and business valuation firm Wise, Blackman of Montreal, the accounting firm Raymond Chabot Grant Thornton of Montreal and Guy Champagne, CA, for their advice in the course of this transaction.

Contact:
Leonids Investments inc.
Eric Chouinard
Phone: (514)286-4242 extension 102

“The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.”