Cardinal Factor News Release

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Cardinal Factor Announces New Director

Toronto, Ontario - Tuesday October 3, 2000

CARDINAL FACTOR CORPORATION (the "Corporation") (formerly "Calderone Corporation") is pleased to announce that Mr. Thomas Reber has been appointed to the Board of Directors of the Corporation.

"Tom comes to us from one of the big five accounting/ consulting firms where he was Senior Vice President and Director, Mergers and Acquisitions. He brings a depth of experience and entrepreneurial flair that will greatly benefit Cardinal Factor's overall corporate strategy. His involvement serves to underline Cardinal Factor's objective to identify and develop internet businesses premised upon sound financial, technological and market analysis", noted Andrew Colebeck, President and CEO.

Mr. Reber started his career in the U.S. in Pittsburgh and New York and has over 20 years experience in the Canadian Financial Services market, primarily in the areas of mergers and acquisitions, securities and corporate finance, corporate reorganizations, corporate restructuring and joint ventures. His involvement includes chairing the Bank Steering Committee for Central Guaranty Trustco and a large and varied number of structured finance and investment banking assignments. He has also established two successful corporate finance units for the National Bank of Canada (for central Canada) and for the Deutsche Bank Canada respectively. At the Deutsche Bank Canada, Mr. Reber ran an integrated Bank/Investment Banking corporate finance unit which advanced from number 28 to number 2 in the Foreign Bank rankings in four years.

Mr. Reber has an undergraduate degree in Psychology and a graduate degree from American Graduate School of International Management in Glendale, Arizona (ranked as the number one international program in the U.S. for the past three years).

The management of the Corporation now consists of Andrew Colebeck (Director, President and CEO), Brian Sloan (Director and Chief Technology Officer), Michael Aucoin (Director and Vice President - Marketing and Business Development), William Sloan, Bryan Knebel and Thomas Reber as Directors.

Cardinal Factor Corporation is an Internet Business Development company focussing on transaction-based business models. High-growth opportunities underway include (an online ordering system for take-out/delivery restaurants) and (a B2B exchange targeting the gardening industry).

The current issued and outstanding capital of the Corporation consists of 15,752,716 common shares and 14,250,000 warrants exercisable at $0.10 per share for a period of two years ending July 28, 2002.

For more information, please visit or contact Mr. Andrew Colebeck, President & CEO at (416) 537-5645.


489 King Street West
Suite 100,
Toronto, Ontario
M5V 1K4


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