PsiNaptic Inc. announces grant of options

    CALGARY, July 22 /CNW/ - PsiNaptic Inc. ("PsiNaptic") (TSXV: PST)
announces it has granted an aggregate of 1,625,000 options to directors and
officers of PsiNaptic. Each option entitles the holder to acquire one common
share of PsiNaptic at an exercise price of $0.10 expiring 5 years from the
date of the grant. The options vest as to 50% on the date of the grant, with
the remaining 50% vesting six months thereafter.

    About PsiNaptic Inc.

    PsiNaptic is a technology company that develops and markets software
based on open standards to address the growing need to connect small,
low-power wired or wireless devices without human intervention, configuration
or set up. PsiNaptic solutions operate on multiple platforms, across various
networks including Bluetooth and WiFi.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy and accuracy of this release.

For further information:

For further information: Aaron Dagan, President and CEO, Telephone:
(403) 775-2236 extn. 226, E-mail:, Web site:

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