Press Release

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e-Smart® Joins forces with Daewoo International

Companies Ink Agreement to Collaborate in the Biometric National ID Arena

THURSDAY, March 5, 2004 - 9:08 AM Eastern - Las Vegas, Nevada, and Seoul Korea, March 5 /PRNewswire-FirstCall/ — e-Smart® Technologies, Inc. (OTC Pink Sheets: ESMT - News; "e-Smart®" or the "Company") is pleased to announce that it has entered into a "Mutual Cooperation Agreement" with Daewoo International Corporation through its e-Smart® Korea, wholly owned subsidiary. Daewoo International, headquartered in Seoul, Korea, is a leading global corporation specializing in international trade; infrastructure, resource and project development; and information technology solutions. e-Smart® is the exclusive supplier for Asia and the USA of the Biometric Verification Security System™ ("BVS2™"), featuring the Super Smartcard™, believed to be the world's only commercially available smartcard with a full on-card system for biometric ID verification.

In commenting on this Mutual Cooperation Agreement, Mr. Chang-Rae Kim Executive Vice President of Daewoo International said, "In today's world of public insecurity and growing identity theft, the need to be sure that a person is who they claim to be while at the same time protecting that person's privacy and civil rights has become of paramount importance. Since the tragedies of "9/11", governments around the world have come to realize the importance of identity verification and many are now in the process of taking the first steps towards electronic ID (National ID Card, Resident Card, etc.) and electronic travel documents (passports, visas, etc.). Mr. Kim went onto say, "while some of the technologies being tested and deployed are interesting, apart from the e-Smart® product offerings, we have found no other practical technology that could balance the societal need to verify identity and the personal need to protect one's privacy and personal civil rights. It is for this reason we have entered into this important agreement with the e-Smart® group."

Under the terms of the Agreement, the parties have agreed to work together to identify projects on an international basis within listed countries that capitalize on the unique biometric and other security technologies and systems developed by e-Smart® and on Daewoo International's strength within said countries as a large scale project developer, plant operator and marketing powerhouse. Upon jointly agreeing upon a potential project, a project specific agreement will be entered into on terms to be negotiated on a case by case basis. The parties are already discussing the details of their first potential project.

Ms. Mary Grace, e-Smart®'s Chairman and CEO gratefully acknowledged the comments of Mr. Kim and added, "We are extremely gratified by the vote of confidence given to us by Daewoo International by virtue of this Mutual Cooperation Agreement. e-Smart® will do everything it can do to justify this reliance knowing that its BVS2™ and Super Smart Card™ products will exceed any expectation created by e-Smart®." Ms. Grace closed by saying, "We truly look forward to a long, prosperous and close working relationship with our new partner, Daewoo International."

Safe Harbor Statement:
Statements in this news release that relate to future plans, financial results or projections, events or performance are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. While these statements are made to convey to the public the Company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent the management's opinion. While management believes such representations to be true and accurate based on information available to the Company at this time, actual results may differ materially from those described.