WNS EMERGENT INC. (TSX-V: WNS)
NEWS RELEASE
For Immediate Release: Monday, December 22, 2003
Calgary, Alberta

WNS ANNOUNCES REDEMPTION OF DEBENTURES

WNS Emergent Inc. (“WNS” or the “Company”) is pleased to announce that it has elected to redeem effective December 31, 2003 (the "Redemption Date") all of the 10% unsecured convertible debentures.

There are WNS Debentures in the aggregate principal amount of $850,974 outstanding. Each WNS Debenture is redeemable at the option of WNS at a price equal to the principal amount remaining outstanding on the date fixed for redemption together with accrued and unpaid interest on that principal amount to be redeemed to the date fixed for redemption plus a pre-determined early conversion penalty (the "Redemption Price"). The Redemption Price is payable by the issuance of WNS Common Shares at a rate of one WNS Common Share for each $0.10 of Redemption Price. As such, WNS will be issuing an aggregate of 9,725,418 WNS Common Shares to redeem the WNS Debentures.

Parties subscribing to the convertible debentures, pursuant to the private placement which closed on October 31, 2003, will be subject to a 4 month hold period from October 31, 2003.

WNS Emergent specializes in the control of mission critical information. We build, operate and support applications which gather, manage and disseminate information primarily in government and the energy sector. Our imaging service bureau and outsourcing offering is the front end document gathering and control service for numerous government departments. We provide high end content and information management expertise to our government and energy sector clients to manage and securely share their critical information. Using our core area of expertise, we have assembled industry leading information control applications for the energy sector. These applications include EzyOPS, a leading materials management application for the upstream oil and gas sector and Pipeworks, an industry leading application for the operation of pipelines around the world. For more information, please visit www.wnsemergent.com.

For further information, please contact:

Mr. George Watson
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.