STRATEGIC INTERNET INVESTMENTS, INCORPORATED SIGNS LETTER OF INTENT TO PURCHASE REAL ESTATE ASSETS

News Release #3-03
Symbol: SIII
Exchange: OTC: BB
July 17, 2003
Shares issued: 17,293,596
Sec # 33 - 28188
NEWS RELEASE

Strategic Internet Investments Incorporated (“ SIII” or the “Company”) is pleased to announce that the Company has signed a Letter of Intent (“LOI”) with Bin Hassan Establishment Trading Group (“Bin Hassan”), which outlines the terms and conditions of an agreement wherein the Company may purchase up to US $42,760,000 in a series of Real Estate asset purchases.

Bin Hassan is a privately owned group of business enterprises registered in Saudi Arabia and is the owner of certain Real Estate property and business interests within the Gulf Council States.

§ Under the terms of the LOI the Company has the right to purchase from Bin Hassan a series of revenue generating real estate assets consisting primarily of land with buildings operating as private schools and colleges, (the “Assets”). Total value of the 14 combined assets is estimated by Bin Hassan at US $42,760,000.

§ The Assets are to be purchased on an individual basis, subject to satisfactory due-diligence by the company and final acceptance by both parties. Bin Hassan will submit to SIII a thorough due diligence package containing all relevant current and past financial information including three years of audited statements, market evaluations and all material contracts.

§ Upon acceptance of an individual asset for purchase by the company, the asset will be evaluated by an independent senior accounting firm acceptable to both parties to determine its fair market value. The value of an individual asset determined by the independent valuator will be the individual assets final purchase price.

§ As full consideration for the purchase of any individual asset or all of the assets, Bin Hassan has agreed to accept common shares of SIII issued, under Regulation S of the U.S. Securities Exchange Act, at a deemed price of not less than $2.00 per share and not more than $5.00 US per share. Final share issuance price for each individual asset purchase will be determined, subject to the minimum and maximum prices outlined above, by calculating the ten-day average trading closing price of SIII´s common shares immediately prior to the closing date of the individual asset in question.

The LOI is to be replaced by a more formal acquisition agreement to be prepared in due coarse by legal counsel. This formal agreement will fully identify all of the Assets subject to acquisition by the Company. Additional details of the Assets will be released upon concluding the formal agreement.

Strategic Internet Investments, Incorporated is currently developing a Resort leisure and entertainment complex located in Manama, Bahrain. For further information please visit the company’s web site noted below.

For further information contact:

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