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  NTG Clarity Networks Inc. Private Placement
 
 

Toronto, Ontario. Nov 17th, 2003 - NTG Clarity Networks Inc. (the “Company”)(TSX-VEN: NCI) a leader in delivering network, IT and infrastructuresolutions, today announced that Mr. Ashraf Zaghloul, theChief Executive Officer and Chairman of the Company sold2.5 million of his common shares at a price of $0.25 pershare through the facilities of the TSX Venture Exchange.The net proceeds of the sale will be used to fund a privateplacement by Mr. Zaghloul of 1.725 million units of theCompany at a price of $0.25 per unit. Each unit shall consistof one NTG common share and 3/4 of a common share purchasewarrant. Each whole warrant shall be exercisable for oneNTG common share at an exercise price of $0.30 per sharefor a period of five years from the closing of the private placement.

Proceeds from the private placement will be used to increasethe Company’s marketing activities internationallyand for general working capital. The private placement is subject to regulatory approval.

The placement has been approved by all directors exceptby Mr. Ashraf Zaghloul who abstained from voting as a resultof his interest in the transaction. The private placementis not subject to the requirements of Ontario SecuritiesCommission Rule 61-501 applicable to related party transactionas the value of the transaction is below 25 percent of theCompany’s market capitalization.

 
 
 

About NTG Clarity

 
 

NTG Clarity Networks’ mission is to be the worlds leading networking solutions company. Established in 1992, NTG Clarity is a Canadian leader in delivering networking, IT and network enabled application software solutions to network service providers and large enterprises. More than 120 network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading network service providers and enterprises. NTG Clarity's services are offered internationally, with offices and operations currently in Toronto, Ottawa, Montreal, Calgary. and Cairo.

 
 
 
  For Further Information, Contact:
 
 
 

Ashraf Zaghloul ( Chief Executive Officer and Chairman )

 
Telephone: (905) 305-1325    |    Facsimile: (905) 752-0469
     
Email: azaghloul@ntgclarity.com   
     
 
 
  For Further Information, Contact:
 
 

Barry Mire


Renmark Financial Communications,
2080 boul. René-Lévesques Ouest,
Montréal, Québec, H3H 1R6
Telephone: (514) 939-3989   |    Facsimile: (514) 939-3717
     
Email: bmire@renmarkfinancial.com  
 
Investor Enquiries: investorrelations@ntgclarity.com
     
 
 
  
 
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