WNS EMERGENT INC. (TSX-V: WNS)
NEWS RELEASE
For Immediate Release: Wednesday, March 31, 2004
Calgary, Alberta

WNS CLOSES $300,000 CONVERTIBLE DEBENTURE

CriticalControl Solutions Inc., the operating subsidiary of WNS Emergent Inc. (“CriticalControl” or the “Company”) (TSX Venture: WNS) is pleased to announce that WNS Emergent has closed a private placement financing with Global (GMPC) Holdings Inc. of Toronto, Ontario ("Global") (TSX Venture: GGH.B) of a convertible debenture in the principal amount of $300,000. Terms of the debenture include a charge on the assets of CriticalControl subordinated to the interest of CriticalControl's bank, interest of 12% per annum payable monthly with principal being due on March 26, 2005. Further, the principal amount of the debenture is convertible into common shares of WNS at a conversion rate of $0.12 per common share on or before March 26, 2005.

In addition, WNS has granted Global 650,000 common share purchase warrants, each common share purchase warrant entitling Global to purchase one common share of WNS at any time on or before March 26, 2006 at an exercise price of $0.12 per common share. In the event all or a portion of the convertible debenture is converted into common shares, a pro rata portion of the common share purchase warrants shall be cancelled.

All securities were issued on a private placement basis and will therefore be restricted from trading until July 27, 2004.

"Having successfully achieved positive EBITDA in 2003, our financial focus now turns to strengthening our balance sheet to better reflect the turnaround of our business. This convertible debenture combined with the recent closing of a $500,000 equity financing provides us with positive working capital and financial ratios in line with the current expectations of our bank." said George Watson, CEO of CriticalControl.

CriticalControl provides organizations better control over their 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.criticalcontrol.com.

For further information, please contact:

Mr. George Watson
Chief Executive Officer
Tel: (403) 705-7500
Fax: (403) 705-7555
E-mail: george.watson@criticalcontrol.com

or

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

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