Several class actions have been filed against Chinese e-commerce company World Information Technology, Inc. (OTC BB:WRLT.PK), and certain of its officers and directors by stockholders who purchased the company's common stock between January 3, 2003, and March 16, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock.

The lawsuits allege that, during the applicable period, World Information Technology reported artificially inflated sales, accounts receivable, and net income. The truth was partially revealed when their outside auditor, Beckstead & Watts, LLP, resigned in January, 2004. On March 16, 2004, the US Securities and Exchange Commission temporarily suspended trading of World
Information Technology securities due to the inaccuracy and incompleteness of its financial statements.

If you purchased securities issued by World Information Technology during the applicable period, you may request appointment by the court as a lead plaintiff if you do so by October 11, 2004. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that your claim is typical of the claims of other class members, and that you will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiffs. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. You may retain any counsel of your choice to serve you in this action, or you may choose to do nothing, and remain in the class as a silent member.