iPerceptions - Customer Satisfaction Measurement

Montreal, August 24, 2000 — Continuing to leverage the convergence of telecommunications,
information technology and content, Telesystem Ltd. (www.telesystem.ca) today announced that it has invested $11.5 million (US) in three rapidly-growing
companies active in the development of innovative Internet-related products, applications
and solutions. In addition to the initial investment, Telesystem will also provide
all three companies with strategic and networking support.

"This investment is consistent with our strategy of creating value at the intersection
of the telecom, information technology and content industries," said Charles Sirois,
Chairman of the Board and Chief Executive Officer of Telesystem. "We believe these
and future investments in similar enterprises complement our existing assets and
further position Telesystem to fully exploit opportunities in the Digital Economy."

The three companies receiving funding from Telesystem include:

• iPerceptions, Inc.( www.iperceptions.com), an Application Service Provider (ASP) based in New York with offices in Montreal,
  recently launched a unique optimizing solution, WebValidator, that determines
  the value of corporate and e-commerce Web Sites to users and monitors performance,
  enabling modifications to maximize utility and traffic over the Internet.
• POPcast, Inc. (www.popcast.com), based in Los Angeles, is an infrastructure provider of self-serve webcasting
  solutions to Web portals, network service providers and corporations. Its self-publishing
  automated platform simplifies the process of sharing visual experiences over the
  Internet. Corporations use the companys services to strengthen their personal
  connection to partners and clients by incorporating videos into such messages
  as online sales presentations, product showcases and video business cards. POPcast
  plans to develop new offerings including wireless personal video services.
• Vertigo Computer Solutions Inc. (www.vertigo.net), based in Montreal, develops and distributes content automation systems for
  live Internet Web sites using real-time data feeds coupled with streaming video
  and other interactive components. Producer ON AIR(TM), the company’s main platform
  for developing live broadcast productions, allows web users to interactively participate
  in on-line polling, with results broadcast in real-time on live television, the
  Internet, interactive TV, and wireless devices. Clients include many of the world’s
  leading broadcasters, and their technology is used by Dateline NBC for viewer
  feedback and Court TV for interactive viewer polling during live court cases.

"These companies are in the forefront of the development of solutions that tap
the power of the Internet, while at the same time, sharing and enabling content
for new applications," added Mr. Sirois. "We have just scratched the surface in
terms the eventual impact of the Internet on commerce and society. Despite the
recent market correction in the technology sector, this is where tremendous value
will be created in the years to come."

Telesystem Ltd. is a private company focused on profit-oriented growth enterprises
in the Digital Economy. The Company includes both a network of operating companies
in wireless and broadband communications infrastructure, and synergistic enterprises,
mainly in the development of mobile Internet services and Web-centric business
solutions, through its specialized venture capital funds or direct investments.
Active on a global scale, Telesystem is recognized for its ability to identify
and realize value.

FOR INFORMATION:

MICHELE BEAUBIEN
Director, Communications

Telesystem Ltd.

(514) 397-8478

mbeaubien@telesystem.ca