Hyperchip a Top 50 Private Company
says Red Herring

-- Recognized by Red Herring Editors
for Innovation and Business Strategy --

MONTRÉAL, May 13, 2002 – Hyperchip, a leading developer of core IP systems, announced today that it has been included in the prestigious Red Herring 100 by the editors of Red Herring, the premier business magazine of technology and innovation based in California.

The Red Herring 100 recognizes the top 50 public and the top 50 private companies worldwide whose services, business models, products and quality of management define business innovation. It previews the leaders of tomorrow in a number of key technology-related sectors, including software, biotechnology, wireless, communications services, media, hardware, nanotechnology, consumer electronics and energy.

In its sixth year, the Red Herring 100 has become the most respected list of its kind. Red Herring editors compile the list by using the same combination of insights and hard metrics favoured by venture capitalists and investment bankers. These factors predict a company 's ability to disrupt existing markets or create entire y new ones. Previous winners include market and technology leaders such as Ciena, Dell Computer, Nokia, Extreme Networks, Cisco Networks, IBM, Intel, and Yahoo among others.

"We are proud of this important recognition," said Brian Barry, Hyperchip's Chief Executive Officer. "Being selected as one of the top 50 private companies in the world by Red Herring is further validation that our PBR-1280 core IP system is a disruptive technology that will shape the future of the Internet. Our system is bringing a new level of reliability and performance to the Internet while improving the profitability of carriers."

The Red Herring 100 is featured in the June 2002 issue of Red Herring magazine and is also available on www.redherring.com. It includes a short profile of Hyperchip.

About Hyperchip
Based in Montreal and Dulles (Virginia),Hyperchip is defining the future of the Internet with cost-effective,high-performance systems that simplify the core routing network and enable the wide-scale deployment of a route-once topology.Hyperchip's routers are compatible with existing network
architectures,reducing operating and capital costs while delivering the high-quality bandwidth necessary to support high-revenue services.Hyperchip's carrier-class technology scales upward to route approximately 1,000 times more Internet traffic than today's solutions,eliminating the need for
costly forklift upgrades for network operators.

Hyperchip has raised approximately $220 million in financing since its inception.Its leading investors include TechnoCap,Siemens Venture Capital,Telesystem-Argo,Vertex Technology Fund,Advent International,Optical Capital Group,Altamira,Amerindo,Artemis,JT Ventures,Morgan Stanley,Pilgrim Baxter,Putnam Investments,and Van Wagoner Capital Management.For more information about
Hyperchip,visit the company Web site at www.hyperchip.com.

Note: All funds are in Canadian currency, unless specified otherwise.

Media contacts

Alain Bourget,
Hyperchip Inc.
T. 514.906.2489
abourget@hyperchip.com

Jennifer Goldfinch,
Hyperchip Inc.
T. 514.906.4844
jgoldfinch@hyperchip.com

Hyperchip and the Petabit Routing Company are trademarks of Hyperchip Inc. Other trademarks identified in this release are the property of their respective companies.