March 15, 2005 - CrossOff Incorporated Announces Year End and Fourth Quarter Results

• Revenues increased by 2% to $26,262,045 as compared to $25,670,687 in 2003.
• Gross Margin increased to 60.6% in 2004 as compared to 58.6% in 2003.
• EBITDA* increased to $2,719,891 as compared to ($1,135,526) in 2003.
• Net loss before income taxes improved to ($30,649) as compared to ($3,111,063) in 2003.
• Net income increased to $2,772,792 from a net loss of ($5,419,212) in 2003. Net income was positively impacted by $2,531,573 future tax asset recognition.

Revenues in the technology training division for the fourth quarter ended December 31, 2004 were $7,711,103 compared to $6,518,434 for the same period in 2003. Earnings from operations were $915,820 as compared to $616,603 for the same period in 2003.

Revenues in the technology training division for the twelve-month period ended December 31, 2004 were $25,835,614 as compared to $25,355,261 in 2003. Earnings from operations for this period were $2,431,836 as compared to earnings from operations of $135,518 in 2003.

Revenues in the anti-counterfeiting and brand protection division for the fourth quarter ending December 31, 2004 were $64,321 as compared to $77,818 in 2003. Loss for this period was $83,975 was compared to earnings of $77,071 in 2003. Loss for the period was partially offset by government programs.

Revenues in the anti-counterfeiting and brand protection division for the twelve-month period ending December 31, 2004 were $426,431 as compared to $315,426 in 2003. Earnings from operations improved to $38,390 as compared to a loss of ($292,723) in 2003.

2004 marked a significant improvement in overall operations for the Company. The Company continued to work towards increasing operational efficiencies through a program to improve resource utilization as well as through cost reduction efforts. This program was extended into the Company's cost of delivery and was a logical extension of the cost controls initiative.

As a result of these efforts, the Company made a conscious decision to move away from business that provided lower than acceptable margins. Coupled with improved seat and resource utilization, the Company was able to recognize a gross margin that improved 2.0% from 58.6% in 2003 to 60.6% in 2004. The Company will continue its efforts as it moves forward in 2005 to adjust operations to ensure efforts related to margin improvements are maintained.

"We are pleased to announce our fourth quarter results and conclude a very successful year-end." stated Donnie Snow, President and Chief Executive Officer. "Polar Bear continues to be the engine for growth at CrossOff and a superior team effort has allowed the Company to achieve significant improvement in our financial results."

He added. "We are focused on growth and continue to strengthen our presence across Canada. This past year has been a realization of our potential as a company, as our efforts to manage the core business and develop new opportunities have really come together."

• In July 2004, CrossOff entered into a term debt financing arrangement for proceeds of $5 million through an investment group comprised of Wellington Financial LP Fund II and VenGrowth Capital Partners. As part of this financing, CrossOff issued 18-month secured debentures that bear interest at a rate of 12% per annum and issued 4,545,454 million share purchase warrants permitting Wellington Financial and VenGrowth to acquire common shares of CrossOff at an exercise price of $0.22 per warrant for a period of five years.
• In August 2004, CrossOff completed the asset acquisition of triOS Training Centres Limited, a wholly-owned subsidiary of triOS Corporation of Mississauga, Ontario. The operations of triOS Training Centres have been merged with CrossOff's IT training division, Polar Bear Corporate Education Solutions. This acquisition strengthens the position of Polar Bear in the corporate technology training market particularly in the Greater Toronto Area.

• In February 2005, the Company signed a non-binding Letter of Intent to acquire the assets of ACERRA Learning, a division of Algonquin College of Applied Arts & Technology of Ottawa, Ontario. Under the terms of the proposed transaction, which is subject to due diligence as well as financing, board and regulatory approvals and negotiation of definitive agreements, CrossOff would pay a cash purchase price of $2 million.
• Effective March 3, 2005, Mr. Mark McQueen was appointed to CrossOff's Board of Directors. Mr. McQueen is President & Chief Executive Officer of Wellington Financial LP and has worked in the financial services industry since 1993. We look forward to the significant expertise that Mr. McQueen will bring to the Board of Directors.
• The Company's Annual General and Special Meeting has been scheduled for Thursday, May 5, 2005 at 4 p.m. at the Membertou Trade & Convention Centre, Membertou, Nova Scotia. At the conclusion of the meeting, there will be presentations by our senior management team, followed by a brief reception.