Dow Jones 8,756.71 -85.91 6:30 am PST, January 15, 2003  NASDAQ 1,445.67 -15.32 For info, visit access.smallcapnetwork.com S & P 500 922.26 -9.40 To be removed, please click here Russell 2000 395.13 -3.32 VOLUME 02: ISSUE 89 ThinkPath's on the right path: New contracts announced. On Wednesday morning, Toronto-based ThinkPath (THTHF: OTCBB) Inc announced two new contracts totaling US$1 million with existing clients; defense company Lockheed Martin (LMT: NYSE) and Hill Rom, the patient care and handling subsidiary of healthcare giant Hillenbrand Industries (HB: NYSE).  Thinkpath is to provide technical publishing services that will digitize documents and engineering product designs. The company's expertise will enhance production and achieve meaningful cost savings for its customers.  Today's press release evidences an ongoing program to solidify ThinkPath's position as a market leader in engineering knowledge management. With its shares presently trading at the 4-5 cent level, the potential for an upward move to the 10-cent or higher realm becomes increasingly likely as ThinkPath acquires new financing, grows its business and significantly reduces costs and debt. For traders and investors who wish to participate while the company's long-term prospects are brightening, a purchase at this level--while decidedly speculative-- could provide decent returns over time.  Returning Customers Lockheed Martin and Hill Rom have been ThinkPath customers for several years. This deepening of client relationships speaks to "Thinkpath's dedication to ensuring the most innovative and advanced IT and Engineering Management solutions [which] has proven to be a valuable competitive advantage within the market place" according to Chairman and CEO Declan French. ThinkPath has expertise in a wide range of engineering disciplines and can be tasked to upgrade current projects as well as develop, design and execute a next generation application or system. ThinkPath will provide professionals who can work onsite at the client location or the company will act as an outsource contractor-significantly enhancing time-to-market and cutting costs. 1Q Profit on the Horizon Revenues for 2003 will likely come close to 2002 number of US$27 million-perhaps higher-and reach profitability-- which French feels will begin this first quarter, ending March 31st. Forty percent of corporate revenues come from business with existing clients and ThinkPath is the engineering management company of choice for many large and Fortune 100 companies, including, among others, Merrill Lynch, Goldman Sachs, Microsoft, Hewlett Packard, Morgan Stanley, Sybase and Qwest Communications.  The company expects to announce new customers and contracts in the near future. ThinkPath: In the right places. Buoyed by the deeper relationship with Lockheed Martin, ThinkPath intends to bid on contracts relevant to the $250 billion deal recently announced by the US Government for the development of the Joint Strike Force fighter. Over the life of this multi-decade opportunity, ThinkPath sees many applications for its engineering services, such as technological solutions and services in engineering knowledge management including design, drafting, technical publishing, e-learning and staffing.  Hill Rom is the largest subsidiary of Hillenbrand Industries, contributing US$1.1 billion of the parent company's US$2 billion in revenue for 2001. French sees more opportunities with Hill Rom as well. Given that both the defense and healthcare verticals are among the most robust in terms of capital spending in the current economic slowdown, ThinkPath is wisely allying itself with customers and industries that are insulated from the vagaries evident in the high tech market at large. Judging by the recent financing (December 2002) and a profitable quarter on the horizon, ThinkPath's turnaround is well underway. Annual revenues are running at more than ten times its current market cap of US$2.2 million. In light of the expected US military buildup, ThinkPath is well positioned to win both new contracts and more business from existing clients in that vertical, as well as the myriad of others in which it has influence. For more information, access our previous piece on ThinkPath and visit the company's website at www.thinkpath.com. Here's the complete text of the news release for your review:   Thinkpath Continues To Win New Business Wednesday January 15, 7:01 am ET  TORONTO--(BUSINESS WIRE)--Jan. 15, 2003--Thinkpath Inc., (OTCBB:THTHF - News), a market leader in Engineering Knowledge Management solutions, announced today that it has won recurring business with two existing clients totaling approximately US$1 million in revenue. As the IT and Engineering solutions provider of choice, Thinkpath has enjoyed a long-term working relationship with both clients, one a large defense contractor and the other a leading healthcare company.  "Recurring business has represented more than 40% of our revenue for the last 12 months," said Declan French, Chairman & Chief Executive Officer of Thinkpath Inc. "Thinkpath's dedication to ensuring the most innovative and advanced IT and Engineering Management solutions has proven to be a valuable competitive advantage within the market place. Many of our existing clients are Fortune 100 companies that have the ability to win multi-billion dollar contracts. Thinkpath's opportunity of winning future multi-million dollar contracts outsourced from these clients is very real."  About Thinkpath Inc.  Thinkpath (OTCBB:THTHF - News) is a global provider of technological solutions and services in engineering knowledge management including design, drafting, technical publishing, e-learning, technical training and staffing. Thinkpath enables corporations to reinvent themselves structurally; drive strategies of innovation, speed to market, globalization and focus in new and bold ways. We are experts in the aerospace, automotive, manufacturing and health care industries.  Headquartered in Toronto, Canada, Thinkpath has 330 employees in 6 offices across North America. Further information about the company, its services and products can be found at www.thinkpath.com.  ------------------------------------------- For More Information and Investor Relations Please Contact: ------------------------------------------- Deborah Bayne Vantage Point Capital Tel: (905) 844-3748 or 800-580-4382 Email: vinfo@vantagepointcapital.com ------------------------------------------- Forward-looking Statements  This press release contains certain forward-looking statements regarding Thinkpath Inc., its business prospects and results of operations that are subject to certain risks and uncertainties posed by many factors and events that could cause Thinkpath's actual business, prospects and results of operations to differ materially from those that may be anticipated by such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by Thinkpath in this news release and other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect Thinkpath's business.  Contact:  Vantage Point Capital Deborah Bayne, 905/844-3748 or 800/580-4382 vinfo@vantagepointcapital.com Source: Thinkpath Inc. D I S C L A I M E R : The SmallCap Digest is an independent electronic publication committed to providing our readers with factual information on selected  publicly traded companies. SmallCap Digest is not a registered investment advisor or broker-dealer. 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