Strategic Internet Investments, Inc.

STRATEGIC INTERNET INVESTMENTS, INCORPORATED SIGNS LETTER OF INTENT WITH ULTRA INFORMATION SYSTEMS INC.

News Release #6-02
Symbol: SIII
Exchange: OTC: BB
August 22nd, 2002
Shares issued: 13,617,961
Sec # 33 - 28188
NEWS RELEASE

Vancouver, B.C. August 22, 2002 - The Board of Directors of STRATEGIC INTERNET INVESTMENTS, INCORPORATED, (the "Company") is pleased to announce that the Company has signed a Letter of Intent ("LOI") with Ultra Information Systems Inc. ("UIS"), which outlines the general terms and conditions of an agreement wherein the Company can acquire up to a 51% equity interest in UIS.

UIS is a Delaware corporation which has developed and owns the "Skyhook" suite of software internet security products including: Ememo4u - anonymous encrypted messaging/e-mail ; Summit - encrypted video conferencing and chat; Glacier Server Security - an add-on to UNIX and LINUX servers offering seamless integration with existing systems and firewalls. The system has already been deployed for the secure retrieval of electronic medical records and BPTrade is using the system for online stock trading. The products are unique in that the biometrics of the user can be incorporated directly into the encryption keys. UIS's recently developed, patent-pending "Anonymous Key Technology" (AKT) offers the highest standards of security and integrity in the transmission of confidential data at all points in the electronic communications process combined with ease of use. They can be deployed globally and do not require expensive security management systems. UIS continues to build commercially viable applications that are applicable in Government, the Airline Industry, and virtually all areas of e-commerce communication and data storage. UIS is positioned to become a major player as heightened security issues dominate the global community. A more detailed corporate description can be found on their web-site: www.uisamerica.com.

The LOI dated August 20, 2002 gives the Company the right to acquire 3,500,000 Series A Convertible Preferred Shares of UIS at a price of $1.00 per share convertible on a 1:1 basis into common shares of UIS under a Series A Preferred Stock Purchase Agreement. This Preferred Share purchase would represent an initial 30% interest in the outstanding share capital of UIS. The Company has also been granted the right, under specific anti-dilution provisions, to maintain its 30% equity interest as to future share issuance by UIS and the option, exercisable after 12 months, to acquire additional equity interest in UIS up to a maximum of 51% at the then current fair market value. In addition, upon completing the initial preferred share purchase, the Company will been granted a "First Right of Refusal" on any future sale of UIS equity from the controlling UIS shareholders, currently representing approximately 80% of UIS. The Series A Preferred Shares will have voting rights equal to the equivalent number of common shares.

The terms of the Share Purchase are, $100,000 payable by September 1, 2002 and the balance of $3,400,000 on or before September 30, 2002. The September 30 closing can be extended upon the payment to UIS of an additional $150,000 or, at the discretion of UIS, and, thereafter, on a monthly basis as to similar terms.

Dr. Lynn Spraggs, the Founder and CEO of UIS, will be appointed to the Board of Advisors to the Company and will be granted a total of 200,000 stock options of the Company at an exercise price of $0.50 per share.

For further information contact:

Corporate Contact:

Strategic Internet Investments, Inc.
(604) 684-8662
email: info@siiincorporated.com
www.siiincorporated.com

Investor Relations:

Crescent Fund, Inc.
(212) 509-3060
email: crescentfund@yahoo.com

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

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