XML Global Announces Financial Results for Period Ending September 30th, 2002

XML Global's tightened business focus continues to generate strong quarterly revenue growth and improved gross profit margins.

New York, N.Y. - October 30th, 2002 - XML Global Technologies, Inc. (OTC BB: XMLG), a developer of XML middleware, today announced its financial results for first quarter of fiscal 2003 or the period ending September 30th, 2002.

Revenue for the first quarter 2003 was $318,766, an 89% increase in revenue from the same period in fiscal 2002 and a 25% increase in revenue from the previous quarter. The gross profit for the quarter was $271,012 representing a gross margin of 85% as compared to 42% for the same period in fiscal 2002 and 66% for the previous quarter. Over the 12 month period costs have been continually rationalized resulting in reduced operating expenses of $1,095,094 for the quarter, a 19% decrease over the same period in fiscal 2002. As a result of increasing revenues and decreasing costs the overall result for the quarter was an $863,004 net loss, a significant improvement on the net loss of $1,293,219 for the same period in fiscal 2002.

"In spite of continuing market uncertainty we started fiscal 2003 on a positive note with increases in both revenues and gross margins," said Peter Shandro, CEO of XML Global, "as well a reduction in overall operating expenses. We are now in a much stronger position to drive near term revenue growth by focusing on our sales and marketing initiatives and our channel sales partnerships. Our strategy of focusing on license revenues and reseller channels has been clearly validated and will pave the way for future growth. I am pleased with our results," continued Shandro, "as we have made significant progress towards our goal of profitability without hampering our long term growth potential."

First quarter highlights:

• XML Global deepened its strategic alliances with industry partners by signing reseller agreements with Metadata in the United States and Republica in Europe.
• XML Global signed an important Joint Marketing Agreement with Sun Microsystems.
• XML Global strengthened its sales team with the addition of Don Smith who is based in Southern California and was previously with Vitria Technology and Oracle as well as the appointment of John Allen as European Sales Director, based in Maidenhead, England.
• XML Global continued its push into the e-Government market by selling GoXML(tm) Registry to the US Government's National Institute of Standards and Technology.

To view the complete 10-QSB filing please visit www.sec.gov.

About XML Global Technologies, Inc.

XML Global Technologies, Inc. is an XML middleware company focused on providing a methodical approach to the adoption of XML-based solutions. The Company's GoXML(tm) Transform product line provides a family of three complementary solutions based on a patented XML-centric data transformation engine:

• Foundation includes mapping capabilities, automatic document recognition, EDI (electronic data interchange) transaction support, and a native XML repository.
• Server extends Foundation's capabilities with workflow control. It provides connectors to backend systems, queuing, scheduling, and recovery and offers plug-ins for IBM's MQSeries.
• Central broadens the capabilities of transformation solutions to Web service environments and allows them to integrate metadata registries.

The GoXML(tm) Transform product line allows a controlled transition to XML by offering modular and open systems solutions that complement existing applications and infrastructure.

The Company is an active member of the ebXML, UDDI, OAG and OASIS standards initiatives. Founded in May 1999, XML Global has its US headquarters in New York, NY, and a research and development office in Vancouver, BC.

To learn more please visit www.xmlglobal.com

PR Contact Information

Anthony Dutton
Director of Corporate Communications
Phone 1-604-717-1100 ext.112
1-800-201-1848 ext.112
Fax 1-604-717-1107
anthony.dutton@xmlglobal.com

Forward Looking Statements All statements are based on XML Global Technologies, Inc.'s current knowledge and specific assumptions with respect to future business decisions. The actual results of XML Global Technologies, Inc. may differ materially from those indicated by these forward looking statements as a result of various important factors, including, but not limited to, those discussed in the Risk Factors section of XML Global Technologies' recent registration document, SB-2/A, which is on file with the Securities and Exchange Commission.