Musicrypt Files Prospectus for Public Offering in Europe
March 29, 2004

by -- Musicrypt

Musicrypt Inc. and Europe Finance Industrie (EFI), are pleased to
announce that the preliminary prospectus for the public offering and
listing of Musicrypt on the Marché Libre of the Euronext Paris has been
filed with the Autorité des Marchés Financiers (AMF) in France. The
offering is subject to regulatory approvals in Canada and in France.

“This is an important step in our global growth plans,” said John
Heaven, President & CEO of Musicrypt. “We have commenced pilots for our
Digital Media Distribution System (DMDS) with record labels and radio in
Europe and are also moving forward in the US, fueled by the great
success of DMDS in Canada.”

About EUROPE FINANCE ET INDUSTRIE (EFI): Europe Finance et Industrie,
founded in 1988, is a leading Investment Bank listed on the Marché Libre
d’Euronext Paris, which has closed more than 300 IPO’s in 15
years.www.efi.fr

About Euronext: The Euronext is one of the largest stock exchanges in
the world. In 2002, Euronext was Europe’s leading exchange in terms of
the total value of equities traded, with the value of equity trading
worth €1.6 trillion and was ranked second in Europe by market
capitalization (€1.5 trillion). Air France, Alcatel, Heineken, L’Oreal,
Michelin, Unilever and Vivendi Universal are among the companies listed
on Euronext. It is the largest market in Europe for contracts on euro
short-term interest rates and options on equities and the world leading
exchange for equity derivatives. www.euronext.com

About Musicrypt: Musicrypt’s Digital Media Distribution System (DMDS)
enables user-friendly and secure distribution of media via the Internet.
DMDS is a web-based content delivery system that pioneers secure digital
file distribution by incorporating biometrics. The first application of
DMDS replaces the physical distribution of new musical recordings by
record companies from the studio, internally, and to radio stations with
more secure, more effective and less costly digital distribution via the
Internet. DMDS delivers broadcast quality media from the sender -
securely and on time only to authorized recipients. DMDS delivers the
content person-to-person, rather than machine-to-machine. Musicrypt
trades on the TSX Venture Exchange (TSX-V) in Toronto under the symbol
MCT. www.musicrypt.com


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