WNS EMERGENT INC. (TSX-V: WNS)
NEWS RELEASE
For Immediate Release: Monday, December 1, 2003
Calgary, Alberta

WNS ANNOUNCES RESULTS FOR QUARTER ENDED SEPTEMBER 30, 2003

WNS Emergent Inc. (“WNS” or the “Company”) has filed its financial statements for the quarter ended September 30, 2003. Revenue for the three month period ended September 30, 2003 was $1,860,462 ($1,611,706 for the three months ended September 30, 2002) resulting in a Net Loss of $383,413 ($2,916,058 for the three months ended September 30, 2002). The Net Loss for the quarter includes amortization charges of $320,416 ($1,139,704 for the three months ended September 30, 2002). Non-operational one time gains (losses) for the three month period ended September 30, 2003 consisted of $161,964 for settlement of debt ($(2,343,127) for write down of capital assets and goodwill for the three months ended September 30, 2002).

On a year to date basis, revenue for the nine month period ended September 30, 2003 was $6,052,168 ($4,569,988 for the nine months ended September 30, 2002) resulting in a Net Loss of $794,245 ($4,604,153 for the nine months ended September 30, 2002). The Net Loss for the nine months ended September 30, 2003 includes amortization charges of $877,311 ($1,723,309 for the nine months ended September 30, 2002).

"The summer months comprising the third quarter are traditionally the slowest for our business. Notwithstanding the foregoing, we have increased our gross margin from negative 2.49% for the three months ended September 30, 2002 to positive 23.06% for the three months ended September 30, 2003. On a year to date basis, our net margin has increased from 9.20% for the nine months ended September 30, 2002 to 28.43% for the nine months ended September 30, 2003. In addition, our working capital deficit has decreased significantly from $1,294,985 at December 31, 2002 to $872,191 at September 30, 2003. Subsequent to the end of the quarter, WNS has completed the acquisition of TCENet Inc. and a $325,000 private placement, which, combined with current positive cash flows from operations, has significantly improved working capital," said Alykhan Mamdani, CFO.

"We have now completed the operational integration of TCENet Inc., which we acquired as of October 1, 2003. Over the course of the next 3 months, we look to strengthening our core competencies to solidify our client delivery and tightly integrate our combined offering. Interim results subsequent to the quarter ended September 30, 2003 have already shown that the combined company is significantly stronger both operationally and financially," said George Watson, President and CEO.

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. For more information, please visit www.wnsemergent.com.

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

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