ZINGIT INC. SIGNS A LETTER OF INTENT FOR A MULTI-MILLION DOLLAR ACQUISITION

Acquisition Will Give Zingit Inc. a Presence in Nine States and Total Revenues of Approximately $35 Million in 2002

Press Release
Contact:
David Pollock
Zingit Inc.
+1-912-308-3537 tel
+1-912-961-0498 fax
david@zingit.com

PRESS RELEASE: ZINGIT INC. ANNOUCES A LETTER OF INTENT FOR AN ACQUISITION

Acquisition Will Give Zingit Inc. a Presence in Nine States and Total Revenues of Approximately $35 Million in 2002

GREENVILLE, South Carolina - March 26, 2002 - Zingit Inc. (OTC: ZNGT) announced today that it has signed a letter of intent to acquire Options Travel, a fast growing corporate travel agency based in Des Plaines, IL. Upon completion of the merger, the combined company, Zingit Inc., will have branch offices and affiliates at 27 locations in nine states. According to Zingit Inc. CEO, David Pollock, the combined company will also post revenues of approximately $35 million in 2002. The acquisition is purported to be a combination of cash and stock but exact terms of the acquisition were not disclosed.

With the merger, Zingit Inc. will be able to service corporate travel management, leisure travel, travel manager and travel agent training, event planning and group meetings. Not only does this merger broaden the scope of travel packages and revenue sources but it also increases our commission levels," said Pollock. As Zingit achieves higher volume through acquisitions and affiliates it also continues to climb in the commission structures, contract over rides, and other benefits awarded to large volume agencies."

Zingit is focusing on acquiring agencies that already have a large client base with travel bookings in the $3 million to $10 million range per year or through attracting independent travel agents as affiliates. Mr. Pollock explained that agencies have an incentive to either merge with Zingit or join as an affiliate. By offering the small to medium sized agencies these two alternatives they can join our Customer Reservation System (CRS) contracts and utilize our ARC number (an ARC number identifies the bookings made by an agency) to instantly qualify for a much higher commission percentage," he said.

In an industry that is experiencing a severe shakeout where 3,000 travel agencies are closing every year, increasing an agencys commission structure is a very significant value proposition. What is even more appealing for agencies is that Zingit can reduce an agents normal overhead costs by as much as 70%," stated Pollock. Zingit can achieve this because it is immune to airline commission caps and greatly benefits from the elimination of CRS quotas, penalties, regulations all because of its large volume booking status. Its getting harder for struggling agencies to ignore this proposition we have for them."

By following this growth strategy, Zingit Inc. is projecting it will have an agent force of over 500 travel agents within the next sixteen months.

This press release may contain forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, financing, execution of customer contracts, product and service demand, competition, and other risks and uncertainties.

Copyright 2002 Zingit Inc. All Rights Reserved.