Totally Hip Announces Private Placement and Consolidation

Posted on 08-01-03

www.totallyhip.com
Symbol: THC-TSX Venture Exchange

phone: 604 685 6525 e-mail: investor@totallyhip.com

Vancouver, B.C. – August 1, 2003 – Totally Hip Inc. announces that it has agreed to raise up to $500,000 by way of private placement financing. In connection with this financing, Totally Hip Inc. has agreed to issue 5,555,555 units at $ 0.09 per unit, each unit to be issued following a four old for one new consolidation of Totally Hip's share capital. Each unit will consist of one post-consolidation common share and one nontransferable share purchase warrant entitling the holder thereof to purchase one additional post-consolidation common share of the Company at a price of $ 0.09 per share. A finder's fee will be paid on a portion of the private placement.

This financing is subject to acceptance for filing of Totally Hip's four old for one new share consolidation as approved by the Directors in accordance with the Special Resolution passed by the members of Totally Hip Inc. on March 14, 2003 at the Company's Annual General Meeting. Totally Hip Inc. will be making an application for the share consolidation forthwith.

The proceeds of the $500,000 private placement will be used for general corporate purposes including product and market development, innovation and sales.

The private placement announced on April 3, 2003 will not be proceeding.

In connection with the share consolidation, Totally Hip Inc. will change its name to Totally Hip Technologies Inc. The share consolidation, change of name, private placement and finders fee are subject to being accepted for filing by the TSX Venture Exchange.

Totally Hip Inc.
Per: "David Dicaire"
David B.Dicaire, CEO & President

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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