Diversinet Closes $5 Million Strategic Investment from Blue Cross of Northeastern Pennsylvania



    TORONTO, Sept. 4 /CNW/ - Diversinet Corp. (OTCBB: DVNTF), a leading
provider of wireless data application and security infrastructure products and
services, today announced it has successfully closed U.S.$5.0 million in new
funding through a private placement with Hospital Service Association of
Northeastern Pennsylvania, d/b/a Blue Cross of Northeastern Pennsylvania
("BCNEPA").
    Funding will be provided through the sale and issue of 6,756,757 shares
by way of private placement at U.S.$0.74 per share for gross proceeds of
U.S.$5,000,000. Under the funding agreement, William C. Reed, executive vice
president for BCNEPA will join the Diversinet Board. The company will use this
funding for working capital purposes and general operations.
    "We welcome Bill to the Board and his experience gained in the health
care industry will be invaluable as Diversinet moves forward," said Albert
Wahbe, CEO and Chairman of Diversinet.
    Prior to joining BCNEPA, Mr. Reed held numerous management positions in
healthcare provider organizations including Gentiva Health Services, Quantum
Health Resources, and Geisinger Health System. Mr. Reed received his Bachelor
of Science in business administration from Drexel University and his Master of
Science in computer science from Rutgers University.
    After completion of the private placement, there are 41,742,075 shares
issued and outstanding, and 54,121,972 shares on a fully diluted basis. The
common shares cannot be re-sold in the public markets until a registration
statement has been filed and declared effective by the U.S. Securities and
Exchange Commission. This press release does not represent an offer to buy or
to sell any securities. No investment banker commissions were paid in
connection with this transaction.

    About Diversinet

    Diversinet Corp. (OTCBB: DVNTF) is a leading provider of wireless data
application and security infrastructure products and services that secure the
personal identity, transactions and data of consumers over almost any mobile
phone or handheld device. Diversinet's reliable, end-to-end OTP (one-time
password) solutions enable cost-effective strong authentication and instant
and secure access to critical personal records, helping businesses reduce
identity theft, expand customer offerings, increase revenues and comply with
regulations. Connect with Diversinet Corp. at www.diversinet.com.

    About Blue Cross of Northeastern Pennsylvania

    Blue Cross of Northeastern Pennsylvania is an independent licensee of the
Blue Cross and Blue Shield Association headquartered in Wilkes-Barre,
Pennsylvania. It offers a comprehensive portfolio of health insurance products
and administrative services to approximately 600,000 individuals in 13
counties in Northeastern and North Central Pennsylvania. The company's mission
is to provide innovative solutions that support more affordable health care,
promote personal accountability for health and wellness, and offer superior
service and partnership to employers, members, and providers.

    Certain information included in this press release (as well as
information included in oral statements or other written statements made or to
be made by the company) contains statements that are forward-looking, such as
statements relating to anticipated future revenues of the company and success
of current product offerings. Such forward-looking information is made
pursuant to the "safe harbor" provisions of the US Private Securities
Litigation Reform Act of 1995 and any applicable Canadian securities
legislation and are subject to important risks, uncertainties and assumptions
that could significantly affect anticipated results in the future and,
accordingly, such results may differ materially from those expressed in any
forward-looking statements made by or on behalf of the company. For a
description of additional risks and uncertainties, please refer to the
company's filings (including its annual report and financial statements) with
the Securities and Exchange Commission and SEDAR.





For further information:

For further information: Diversinet, David Hackett, Chief Financial
Officer, (416) 756-2324 ext. 275, dhackett@diversinet.com; Investor Relations,
Erin Hegarty, The Equity Performance Group, (617) 723-2225,
erin@equitypergp.com

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