Hesperian Capital Management Ltd. Announces Significant Investment in Axia NetMedia Corporation



    CALGARY, March 28 /CNW/ - Hesperian Capital Management Ltd.
("Hesperian"), the manager of a strategically focused group of public mutual
funds and limited partnerships (the Norrep Group of Funds), announced the
Norrep Performance 2005 Flow-Through Limited Partnership has purchased an
additional 110,400 shares of Axia NetMedia Corporation ("the Company").
    As a result of the above investment, Hesperian now controls 7,817,900
common shares of the Company, representing 12.29% of the outstanding voting
shares.
    The Axia NetMedia Corporation shares are held by the Norrep Group of
Funds for investment purposes. Hesperian may increase or decrease share
ownership of this investment in the future. A copy of the report filed by
Hesperian in connection with the acquisition, as required under applicable
securities legislation may be obtained by contacting Hesperian at
1-877-531-9355.
    Axia NetMedia Corporation provides its customers with managed
next-generation IP network and manages value-added services. Axia NetMedia
trades on the Toronto Stock Exchange under the symbol "AXX". For more
information, visit its website at www.axia.com.

    Hesperian Capital Management Ltd. is a Calgary-based investment firm with
over $785 million of assets under management. Please visit
www.hesperiancapital.com for more details about Hesperian and the Norrep Group
of Funds.

    Certain information set forth in this press release, including a
discussion of future plans and operations, contains forward-looking statements
that involve substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and uncertainties,
some of which are beyond management's control, including but not limited to,
the impact of general economic conditions, industry conditions, fluctuation of
commodity prices, fluctuation of foreign exchange rates, environmental risks
industry competition, availability of qualified personnel and management,
stock market volatility, timely and cost effective access to sufficient
capital from internal and external sources. Actual results, performance or
achievement could differ from those expressed in or implied by these
forward-looking statements.

    %SEDAR: 00017183E




For further information:

For further information: Keith Leslie, CFA, Vice President & Portfolio
Manager, Hesperian Capital Management Ltd, (403) 531-1402,
keith@hesperiancapital.com

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