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                                                                    EXHIBIT 99.2

     PRIVATE CAPITAL INVESTORS INC. AND ZIM TECHNOLOGIES INTERNATIONAL INC.
             AGREE TO A REVERSE TAKEOVER (RTO) FOR STRATEGIC GROWTH

MAY 17, 2001 - MIAMI, FLORIDA - Private Capital Investors, Inc. (PCI) and ZIM
Technologies International, Inc. (ZIM) announced today that they have signed a
letter of intent concerning PCI's proposed acquisition of ZIM through an RTO.

The proposed transaction is part of ZIM's corporate strategy to improve the
company's access to capital markets and better position the company for long
term growth. "The RTO is a key part of the ZIM strategy to rapidly expand our
business," stated Dr. Michael Cowpland, President and CEO of ZIM Technologies
International Inc. "We expect to utilize the acquisition as a vehicle to become
a publicly traded company in the United States and in Canada."

Private Capital Investors Inc., a Miami-based company, intends to use the
transaction to bring its investors into the wireless communications market. "We
believe that the proposed transaction provides our shareholders with an exciting
opportunity to participate in the rapidly expanding field of wireless
communications," commented Stuart Cooper, President of PCI. "ZIM Technologies
International Inc. has both an experienced management team and an innovative
product line. We are looking forward to the successful completion of this
transaction."

The two firms have agreed to structure the acquisition as a share exchange.
Under the proposed terms of the share exchange, the shareholders of ZIM will
hold approximately 96% of the shares in the resulting company and the
shareholders of PCI will hold the remaining 4%. After a sufficient number of
shares of common stock are resold in the public market, the company will seek to
have its outstanding shares listed on AMEX.

"This transaction should improve our access to the capital markets, and enhance
the attractiveness of our stock to potential merger and acquisitions partners,"
commented Cowpland. " This is an exciting time for everyone involved."

With the conclusion of this deal, Dr. Cowpland will remain as President and CEO
and majority shareholder. Under the RTO, PCI will change its name to one
selected by ZIM. In the event that the parties do not execute a definitive
acquisition agreement by June 2, 2001, the letter of intent will terminate.

ZIM TECHNOLOGIES INTERNATIONAL INC. (ZIM) is headquartered in the high
technology epicentre of Canada - Ottawa, Ontario. ZIM provides leading-edge
mobile applications that are an extension of its powerful database development
environment. ZIM IS MOBILE. ZIM's solutions work with existing enterprise
systems to ensure maximum value-added. At the root of ZIM's wireless application
solutions is software founded on powerful core technology and cutting-edge

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software design innovation. ZIM's focus is on providing wireless applications
using concepts such as business policy-based messaging, and push-response
technology via SMS, WAP and other mobile protocols. These applications enable
meaningful connectivity to dynamic legacy data. ZIM and 'Zim is Mobile' are
trademarks of ZIM Technologies International Inc. For more information about
ZIM, visit: HTTP://WWW.ZIMISMOBILE.COM.

This press release contains certain "forward looking statements" within the
meaning of Section 27A of the Securities Act of 1933, and Section 21E of the
Securities Exchange Act of 1934, concerning, among other things, the proposed
transaction involving PCI and ZIM together with the expectations of the parties
with respect to the transaction. When used in this press release, the words
`believe', `expect' and similar expressions are generally intended to identify
such forward looking statements. Such forward looking statements, including
statements regarding intent, belief and current expectations of PCI and ZIM, are
not guaranties of future performance and involve risks and uncertainties. All
statements other than the statements of historical fact made in this release are
forward looking statements. The forward looking statements reflect the parties'
current expectations as a result of various factors, including but not limited
to, developments in the market for wireless technology and changes in the
capital markets.

For more information, contact:

Jeremy Melhuish
Vice President, Communications and Marketing
ZIM Technologies International Inc.

613-727-1397




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