WNS INC. (CDNX-WNS)
NEWS RELEASE
For Immediate Release: September 30, 2002
Calgary, Alberta

SHAREHOLDER UPDATE

Calgary, September 30 - WNS Inc. (“WNS” or the “Company”) is pleased to announce that it has now completed an operational reorganization resulting from the acquisition of Emergent Technologies Ltd. and VerticalBuilder.com Inc. As a result, the Company is now being branded WNS Emergent and will change its name to WNS Emergent Inc. upon receipt of the required regulatory approval. The purpose behind the reorganization, restructuring and acquisitions was to create a viable organization geared for growth in the current economic climate. Given the significant reduction in capital expenditures in technology, management moved to create a breadth of technology solutions addressing productivity of organizations, reducing dependence on shrinking technology budgets.

WNS Emergent provides technology to clients to assist in the management of their vital information and documents. Our solutions allow our clients to Connect, Communicate and Collaborate. Our Connect solutions team consists of infrastructure specialists who handle everything from the complete outsourced management of networks to the most complex integration of wireless services. Our Communicate solutions include the design, development, implementation and support of specialized information and document management solutions using a team of experts deployed across Canada. Our Collaborate Solutions include proprietary document management technologies delivered through our ASP model enabling electronic plans rooms, management of large scale construction projects and bidding processes involving over $1Billion of procurement.

Pursuant to WNS’ Annual and Special Shareholder meeting, the directors of the Company are now Willard Kirkpatrick (Chairman & CEO of Maxam Contracting Ltd.), Robert McKenzie (Cofounder of Metronet Communications Corporation), George Watson (President & CEO of WNS, formerly President & CEO of TransCanada Pipelines), Ken Mullen (President & CEO of Savanna Energy Services Corp., formerly President & CEO of Plains Energy Services Ltd.), Thomas Ulrich (President & CEO of the Teachers’ Retirement Allowances Fund of Manitoba and Director of Greystone Capital Management Inc.), John Kendal, Dennis Nerland and Alykhan Mamdani. Additionally, Kevin Starozik (President & CEO of Agilis Corp.) has been appointed to the Board of Directors.

Although WNS has been historically profitable, the current economic climate combined with the acquisition of two entities which had a net cash burn has resulted in the need for additional working capital. WNS Emergent will seek to raise up to $990,000 in the form of a private placement offering at $0.15 per share. It is anticipated that most or all of this amount will be raised from officers, directors and other related parties and as such, no commission will be paid to agents. Management believes that such a financing will provide sufficient working capital to bridge the combined organization to positive cash flow.

For further information, please contact:

Mr. George Watson
President & CEO
Tel: (403) 705-7500
Fax: (403) 705-7555
E-mail: george.watson@wnsemergent.com

or

Mr. Alykhan Mamdani
CFO
Tel: (403) 705-7500
Fax: (403) 705-7555
E-mail: alykhan@wnsemergent.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.