FOR IMMEDIATE RELEASE

Toronto, Ont. April 8, 2003 – A group of Toronto-based employees of Peregrine Systems of San Diego, CA, has purchased Peregrine’s Spectif Network Management Division for an undisclosed sum.

The purchase includes the Spectif product line, customer base and assets of the former TSB International Inc., a Toronto-based telecommunications management company that had been purchased and merged with Peregrine Systems in 2000.  Peregrine filed for bankruptcy in California state courts on September 22, 2002.

Incorporated in Toronto, TSB Solutions Inc. manufactures intelligent remote element management devices used to communicate alarms, traffic, configuration and billing data from network equipment; develops software applications used for data transport, billing and traffic analysis; and operates 'CALLS', Canada’s first telephone cost allocation service bureau with customers across Canada.

“We are very fortunate”, said David Kirwan, President of TSB Solutions and an employee of fifteen years. “This is a stable, profitable business that we understand.  TSB always enjoyed great loyalty from our customers and they are totally behind us now. The Toronto staff had great expectations for the merger but the promised synergy just wasn’t there and our efforts were eclipsed by events in California. The buy-out is a win-win for all our customers and our people.”

TSB’s customers include telecom giants such as British Telecom and AT&T as well as more than 60 companies across Canada that use TSB’s  ‘Calls’ service bureau management reports for telephone cost allocation and facilities usage analysis.  TSB Solutions employs 25 people at its offices Toronto operations. The company is projecting a 25% growth in revenue growth this fiscal year.

For more information about this news release and TSB Solutions’ products and services, please contact:

David Quinn
Executive Vice President
TSB Solutions Inc.
416-622-7010 Ext. 248
dave.quinn@tsbsolutions.com