FOR IMMEDIATE RELEASE

Contact:
Carol Weber
Worldwide Xceed Group, Inc.
(212) 553-2445
CWEBER@XCEED.COM

                           WORLDWIDE XCEED GROUP, INC.

   ANNOUNCES A CHAPTER 11 FILING, DISPOSITION OF ASSETS AND THE WITHDRAWAL OF
     ITS REQUEST FOR A HEARING BEFORE A NASDAQ LISTING QUALIFICATIONS PANEL

APRIL 30, 2001: New York, NY -Worldwide Xceed Group, Inc. ("Xceed")
(NASDAQ:XCED), a digital strategy and professional services firm, today
announced that it has filed a voluntary petition for relief under Chapter 11
of the Bankruptcy Code with the United States Bankruptcy Court for the
Northern District of Illinois, Eastern Division. Pursuant to the Bankruptcy
Code, Xceed expects to continue to operate its business and manage its assets
as a debtor-in-possession. The Chapter 11 filing is expected to provide Xceed
with the opportunity to reorganize its business operations, restructure its
debt obligations and obtain relief from pre-petition creditors. This action
is consistent with Xceed's prior disclosure that there was no assurance that
its accounts receivable collections would have been sufficient or that debt
or equity financing would become available to Xceed to meet its ongoing
obligations. At this time, it is unlikely that any proceeds will remain for
distribution to holders of Xceed's common stock.

Xceed has also announced today the arms length sales of its Colorado Springs,
Colorado office, its Netherlands subsidiary, Pulse Interactive B.V., and its
Chandler, Arizona office.

Finally, Xceed announced the withdrawal of its request for an oral hearing
before the Nasdaq Listing Qualifications Panel. The request for a hearing was
in response to a notification by Nasdaq that Xceed did not demonstrate
compliance with the $1.00 minimum bid price requirement for continued
listing. Xceed expects that trading in its common stock on The Nasdaq
National Market will be halted on May 1, 2001 and expects that its common
stock will be delisted from The Nasdaq National Market on May 2, 2001. In
addition, Xceed will cease filing Form 10-K and 10-Q reports under the
Securities and Exchange Act of 1934, as amended. In lieu thereof, financial
reports filed with the Bankruptcy Court will be filed under Form 8-K.



                                                                     Xceed/p.2

ABOUT XCEED Xceed (www.xceed.com) provides strategic consulting and digital
solutions to enable Fortune 1000 and other companies and market leaders to
compete more effectively in the new economy. Xceed leverages strategic
relationships, vertical industry expertise, and proprietary solutions to
accelerate the development of e-business models that make enterprises
smarter, faster, and more valuable. With approximately 200 interactive
professionals, Xceed is headquartered in New York City with offices in
Atlanta, Chicago, Dallas, Los Angeles, and London.

XCEED IS A TRADEMARK OF WORLDWIDE XCEED GROUP, INC.

IMPORTANT NOTE:

THIS NEWS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS THAT REFLECT XCEED'S
CURRENT EXPECTATIONS ABOUT ITS FUTURE RESULTS, PERFORMANCE, PROSPECTS AND
OPPORTUNITIES. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE CURRENT
BELIEFS OF XCEED'S MANAGEMENT AS WELL AS ASSUMPTIONS MADE BY, AND INFORMATION
CURRENTLY AVAILABLE TO, XCEED'S MANAGEMENT. XCEED HAS TRIED TO IDENTIFY THESE
FORWARD-LOOKING STATEMENTS BY USING WORDS SUCH AS "BELIEVE," "EXPECT,"
"ANTICIPATE," "INTEND," "ESTIMATE," AND SIMILAR EXPRESSIONS. THESE
FORWARD-LOOKING STATEMENTS ARE SUBJECT TO A NUMBER OF RISKS, UNCERTAINTIES
AND OTHER FACTORS THAT COULD CAUSE XCEED'S ACTUAL RESULTS, PERFORMANCE,
PROSPECTS OR OPPORTUNITIES IN THE REMAINDER OF 2001 AND BEYOND TO DIFFER
MATERIALLY FROM THOSE EXPRESSED IN, OR IMPLIED BY, THESE FORWARD-LOOKING
STATEMENTS. THESE RISKS, UNCERTAINTIES AND OTHER FACTORS INCLUDE, BUT ARE NOT
LIMITED TO: XCEED'S LIMITED OPERATING HISTORY; XCEED'S OPERATING LOSSES;
XCEED'S POTENTIAL NEED TO RAISE ADDITIONAL CAPITAL TO CONTINUE OPERATIONS;
XCEED'S ABILITY TO SUCCESSFULLY INTEGRATE ACQUIRED COMPANIES INTO ITS
OPERATIONS, WHICH COULD SLOW XCEED'S GROWTH; FURTHER STRAIN ON XCEED'S
RESOURCES CAUSED BY CONTINUING GROWTH, WHICH COULD HINDER XCEED'S BUSINESS
AND RESULTS OF OPERATIONS; XCEED'S REVENUES COULD BE NEGATIVELY AFFECTED BY
THE LOSS OF KEY CUSTOMERS; XCEED HAS ONLY LIMITED PROTECTION OF PROPRIETARY
RIGHTS; XCEED'S BUSINESS WILL BE NEGATIVELY AFFECTED IF XCEED DOES NOT KEEP
UP WITH THE INTERNET'S RAPID TECHNOLOGICAL CHANGES; XCEED'S BUSINESS MAY BE
NEGATIVELY AFFECTED IF XCEED FAILS TO ACCURATELY ESTIMATE THE TIME AND
RESOURCES NECESSARY FOR THE PERFORMANCE OF ITS SERVICES; XCEED'S DEPENDENCE
ON MANAGEMENT FOR ITS CONTINUED OPERATIONS AND GROWTH; XCEED'S NEW
MANAGEMENT'S LIMITED KNOWLEDGE AND INFORMATION CONCERNING PRIOR EVENTS AND
XCEED ACTIVITIES; XCEED'S ABILITY TO RECRUIT AND RETAIN QUALIFIED
PROFESSIONALS, WHO ARE CURRENTLY IN HIGH DEMAND; IF CLIENTS DO NOT REHIRE
XCEED FOR NEW PROJECTS, OR IF THEY TERMINATE OR REDUCE THE SCOPE OF EXISTING
PROJECTS, XCEED'S REVENUES MAY DECLINE; XCEED COMPETES IN A NEW AND HIGHLY
COMPETITIVE MARKET THAT HAS LOW BARRIERS TO ENTRY; XCEED MUST MAINTAIN ITS
REPUTATION AND EXPAND ITS NAME RECOGNITION TO REMAIN COMPETITIVE; XCEED'S
BUSINESS DEPENDS ON CONTINUED GROWTH IN THE USE OF THE INTERNET; XCEED'S
BUSINESS IS SUBJECT TO U.S. AND FOREIGN GOVERNMENT REGULATION OF THE
INTERNET; DIFFICULTIES PRESENTED BY INTERNATIONAL FACTORS COULD NEGATIVELY
AFFECT XCEED'S BUSINESS; THE CONVERSION OF XCEED'S SERIES A PREFERRED STOCK
AND THE EXERCISE OF THE RELATED WARRANTS COULD RESULT IN SUBSTANTIAL NUMBERS
OF ADDITIONAL SHARES BEING ISSUED IF XCEED'S MARKET PRICE DECLINES; XCEED
MAY  ISSUE  ADDITIONAL  SHARES  AND  DILUTE  INDIVIDUAL  STOCKHOLDERS'
OWNERSHIP PERCENTAGES; SUBSTANTIAL SALES OF XCEED'S COMMON STOCK COULD
CAUSE THE STOCK PRICE TO FALL; XCEED MAY BE REQUIRED TO PAY SUBSTANTIAL
PENALTIES TO THE HOLDERS OF ITS SERIES A PREFERRED STOCK IF SPECIFIC EVENTS
OCCUR; IF XCEED'S  COMMON   STOCK   IS   REMOVED   FROM   NASDAQ,   THE



MARKETABILITY OF ITS COMMON STOCK WILL BE DECREASED SUBSTANTIALLY; AND THE
MARKET PRICE OF XCEED'S COMMON STOCK MAY BE VOLATILE, WHICH COULD RESULT IN
SUBSTANTIAL LOSSES FOR INDIVIDUAL STOCKHOLDERS.

XCEED UNDERTAKES NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING
STATEMENTS, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR CHANGED
CIRCUMSTANCES OR FOR ANY OTHER REASON.

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