Vancouver, BC - April 8, 2002, GTVCF OTC BB - GlobeTechVentures the funding developers of TranslationWave, a globalization company that transform the Internet into a truly universal platform of communication, today announced that its joint technology relation with InternetSpeech, the leader in voice Internet and developer of netECHO®, the only technology that delivers complete anywhere, anytime Internet access with any telephone, can now translate English content from any website into other languages like Japanese and Chinese in real time.

TranslationWave and InternetSpeech have developed this technology using TranslationWave’s real time language translation software. TranslationWave inked deal with InternetSpeech in June 2001 to add language translation component to netECHO. The combined translation product is available for distribution worldwide.

By integrating TranslationWave's real-time translation software into netECHO, InternetSpeech can now customize its break-through voice Internet solution for Internet Service Providers (ISPs), telecommunications companies, wireless carriers, businesses and consumers in major international markets. With TranslationWave and netECHO combined, users in any country can, for the first time, hear information from English web sites in their own language. According to the companies, the majority of the Internet is in English, leaving a vast part of it unusable by millions of people.

TranslationWave and InternetSpeech will share revenue from sales made as a result of the jointly-developed voice Internet solution. Additionally, both companies have agreed to share all marketing and sales responsibilities of their respective technologies to further expand multi-lingual Internet access and communications.

TranslationWave and InternetSpeech is also testing Japanese to English and Chinese to English translation in real time by providing Japanese and Chinese web contents in English in real time.

“The synergy we have with InternetSpeech is perfect for our long-term growth," said Dil Gujral, president and CEO of Globetech Ventures (GTVCF), the funding developer of TranslationWave. "We align with companies that match our determination to elevate global Internet access and communications in different languages. InternetSpeech is a technology innovator that we believe can drive Internet connectivity and commerce to new heights.”

“InternetSpeech is dedicated to bringing the entire Internet to the masses worldwide through voice and the telephone. By joining forces with TranslationWave, we have made our vision a reality,” said Dr. Emdad Khan, founder, president and CEO of InternetSpeech.

Globetech Ventures Inc. (OTCBB: GTVCF) who recently announced that they have entered into a letter of intent with respect to Globetech acquiring all the issued and outstanding shares of Net 7 Software, Inc. Further to this letter of intent Globetech expects to complete the definitive agreement with Net 7 in the near future.

Net 7 is a communications application service provider (ASP) that typically supplements Internet telephony solutions with value-added services. Net 7 has built an enhanced messaging platform that currently supports email-to-fax and document-to-fax conversions, and will soon support – among a suite of services aimed at voice messaging users in the wired and wireless worlds – similar conversions to speech playback.

Globetech itself is building a diversified global business by developing deeper relationships and more valuable solutions in key vertical industries for our consumer and business partners.

About TranslationWave:
TranslationWave (www.translationwave.com), is a globalization company that transforms the Internet into a truly universal platform of communication. By providing an economical medium for foreign exposure, globalization and multilingual communication, the Company prepares websites and businesses for emerging markets. Our translation technology suite includes the following products and services: *Dynamic and Static Translation of: real-time email, database, PC-based software applications, text, chat room and website.

About InternetSpeech:
InternetSpeech, the leader in Voice Internet, develops and markets netECHO®:, the only software available that provides businesses and consumers complete anytime, anywhere voice-based telephone access to the Internet. The company's patent-pending technology can be bundled with other products, such as traditional computer-based Internet access or voice mail, and can be customized to meet individual business needs, such as employee access to Intranet sites. InternetSpeech also offers business software that automates the process of voice-enabling a company's Web site and applications in any language, furthering the development of a globally connected voice Internet. InternetSpeech, a privately held company headquartered in San Jose, Calif., launched netECHO in November 2000. For more information about InternetSpeech, visit www.InternetSpeech.com, or call 1-877-312-4638.

netECHO is a registered trademark of InternetSpeech.