Cyberplex Inc. (TSX: CX) (the “Corporation”) announced today that it has entered into an agreement with a syndicate of agents led by Paradigm Capital Inc. and GMP Securities LP pursuant to which the agents will arrange for purchasers, on a best efforts, private placement basis, of up to 8,333,334 common shares of the Corporation (the “Shares”) at a price of $0.60 per Offered Share for gross proceeds of up to approximately $5,000,000.  The proceeds of the offering will be used by the Corporation for general corporate purposes.  

The offering is anticipated to close on or about February 21, 2008.  The Shares will be subject to resale restrictions for a period of four months from the closing date under applicable securities legislation.  Completion of the private placement will be subject to a number of conditions including the approval of the Toronto Stock Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Cyberplex Inc.   
Cyberplex Inc. (www.cyberplex.com) is a leading technology firm focused on providing web advertising solutions and on-line customer acquisition strategies, as well as application expertise and web-based solutions to its clients.  
 
The Company, through its subsidiaries, has developed a proprietary network of affiliates which combined with advertising relationships and teams of technology consultants and design, usability and solutions specialists, assist customers with all aspects of their web-based applications as they design, develop and promote solutions that deliver results.  
 
With over 12 years of experience serving Fortune 1000 clients including Thomson, Atlantic Lottery Corporation, Xerox, Advanced Micro Devices (AMD), and the Royal Bank of Canada, Cyberplex is frequently the firm of choice for business leaders looking for reliable solutions.  Cyberplex serves clients across Canada and the US, and is headquartered in Toronto, Canada with offices in Arlington, Austin and Halifax.
 
For further information, please contact:
    
Isaac Osiel
Chief Financial Officer
Tel:    416-597-8889