Cenit Signs Letter of Intent to Acquire All Outstanding Shares of Cycom Canada Corporation

Cenit Corporation ("Cenit" or the "Company")(TSX VENTURE:CNT) is pleased to
announce that it has entered into a letter of intent with Cycom Canada
Corporation ("Cycom") dated August 28, 2008 (the "Letter of Intent"), whereby
Cenit has agreed to acquire all of the issued and outstanding common shares of
Cycom (the "Proposed Acquisition"), such that Cycom will become a wholly owned
subsidiary of the Company upon completion of the Proposed Acquisition. It is the
intention of Cenit to retain all of the existing employees of Cycom and conduct
business as usual following completion of the proposed transaction with no
disruption of service.


Under the terms of the Letter of Intent, the Company will pay the sum of
$3,000,000 in connection with the Proposed Acquisition and in addition will pay
approximately $1,000,000 in connection with working capital, legal fees and
costs associated with Cycom's acquisition of a service company. It is the
intention of the parties to complete the proposed transaction on or before the
30th day of September, 2008.


Completion of the Proposed Acquisition is subject to a number of conditions,
including, but not limited to, acceptance by the TSX Venture Exchange. In
addition, other necessary conditions to close the Proposed Acquisition include
obtaining all other necessary regulatory, and third party approvals and
authorizations, the completion of a definitive agreement setting forth the terms
and conditions set forth in the Letter of Intent, the completion of due
diligence and financing arrangements. There can be no assurance that the
Proposed Acquisition will be completed as proposed or at all.


The following information relating to Cycom has been provided to the Company by
Cycom.


About Cycom

Cycom is a private company that offers a comprehensive array of services,
including management and IT consulting, system integration, project management,
solution design and deployment, extended support and legacy system migration.
For information relating to Cycom, refer to their website at www.Cycom.com.


About Cenit Corp.

Cenit Corporation is a Canadian holding company which operates subsidiaries in
diverse market niches: Blue Port Technologies Inc. (BP), Continental Asset
Management Inc. (CAM), and Health Promotions Strategies Inc. (HPSI). BP is a
software development company coupled with a recruiting services business; CAM
was a vendor of Point of Sale systems which business and customer list were sold
as of May 31, 2008; and HPSI was a registered gaming supplier but did not renew
its license in early 2008 due to the fact that it sold its customer list but it
continues to receive a residual income stream. Cenit is continually looking for
strategic investment alternatives to enhance shareholder value.


Cautionary Statement

This news release contains "forward-looking statements" within the meaning of
applicable securities laws relating to the proposal to complete the Proposed
Acquisition, including statements regarding the terms and conditions of the
Proposed Acquisition. Readers are cautioned not to place undue reliance on
forward-looking statements. Actual results and developments may differ
materially from those contemplated by these statements depending on, among other
things, the risks that the parties will not proceed with the Proposed
Acquisition, that the ultimate terms of the Proposed Acquisition will differ
from those that currently are contemplated, and that the Proposed Acquisition
will not be successfully completed for any reason (including the failure to
obtain the required approvals or clearances from regulatory authorities). The
statements in this news release are made as of the date of this release.


Shares Outstanding (Non-Diluted): 23,976,327