Caneum, Inc. Provides Fourth Quarter 2005 and Full Year 2005 Financial Results
via COMTEX

March 31, 2006

Company Completes 404% Year Over Year Quarterly Revenue Increase and
307% Annual Revenue Increase for Fiscal 2005
Company Completes Its 11th Sequential Quarter of Revenue Increase and
Its 5th Sequential Quarter of Net Loss Reduction

NEWPORT BEACH, CA, Mar 31, 2006 (MARKET WIRE via COMTEX) --

Caneum, Inc. (OTC BB: CANM), an information technology and business process outsourcing company, today announced that its revenue for the fourth quarter grew 404% from the prior year period and that this marked the 11th consecutive quarter of sequential top line growth. Revenue for the full year grew 307% over the prior year period. Additionally, the Company reduced fourth quarter net losses by 67% from the prior year period, marking the 5th consecutive quarter of sequential net loss reduction. Net losses for the full year showed a reduction of 6% over the prior year period.

The Company, which has customers ranging from start-up to Fortune 1000 companies, provides a broad range of outsourcing services from engineering development to front and back-office infrastructure integration and deployment to business process management and attributed its performance to continued strong demand for outsourcing services and an expanded organic customer base. Reported results included:


--  Fourth Quarter 2005 Revenues Up 404% to $795,950 from $158,085 in the
    Fourth Quarter 2004
--  Fiscal Year 2005 Revenue Up 307% to $2,175,271 from $534,752 in Fiscal
    Year 2004
--  Fourth Quarter 2005 Net Loss Down 67% to $190,032 from $568,171 in the
    Fourth Quarter 2004
--  Fiscal Year 2005 Net Loss Down 6% to $1,274,945 from $1,356,640 in
    Fiscal Year 2004

Chairman Alan Knitowski commented, "Management remains exceptionally pleased with the continued operating performance and growth of the Company, including the addition of several new customers. These results for the 4th quarter and full year 2005 do not include the consolidated financials from our recent acquisition of TierOne Consulting, Inc., but do reflect the stand-alone financials associated with the Company as of the close of 2005. Shareholders interested in consolidated financials associated with last week's acquisition can review the 1st quarter 2006 10-QSB when available in mid May. As always, we encourage prospective and current shareholders to review additional details and developments in our full 10-KSB annual report now on file with the SEC and to review the forthcoming 10-QSB when filed in mid May."

About Caneum, Inc.:

Caneum, Inc. is a global provider of business process and information technology outsourcing products and services across vertical industries, including technology, energy, government, transportation, financial services, education and healthcare. The company provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, product development, product maintenance and customer support, and fulfills its services in-house, on-shore, near-shore and off-shore, depending on the business goals and objectives of its global customers. In parallel, Caneum is opportunistically pursuing accretive acquisitions within its core outsourcing product and service suite in order to broaden its core capabilities, expand its customer base and supplement its organic growth. For more information, please visit the company's Web site at http://www.caneum.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the company's filings with the Securities & Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products and enhancements by competitors; the competitive nature of the markets for Caneum's services; Caneum's ability to gain market acceptance for its services and products; the company's ability to fund its operations; the company's ability to attract and retain skilled personnel; the company's ability to diversify its revenue streams and customer concentrations; and the company's reliance on third-party suppliers.

Contact: Caneum, Inc. Gary Allhusen 949-273-4007 Contact via http://www.marketwire.com/mw/emailprcntct?id=3CAB1E7C7B009E6C or The Liquid Group Jason Daggett (Investors / Media) 714-264-7975 Contact via http://www.marketwire.com/mw/emailprcntct?id=1D4660D7CD2DFB3F

SOURCE: Caneum

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