OVERVIEW AND DESCRIPTION OF BUSINESS

Cenit is a Canadian holding company which presently holds an investment interest in two wholly owned subsidiaries, Health Promotion Strategies Inc (“HPSI”) and Continental Asset Management Inc.(“CAM”). Cenit also holds a sixty-four percent interest in Blueport Technologies Inc. (“Blue Port”) which owns; Techwork, a division of Blue Port, which operates a recruiting and placement agency.

CAM was a distributor of automated teller and point of sale machines. Due to limited revenues and continuing operating losses, Cenit sold CAM’s business and customer list as of May 31, 2008.

HPSI was a registered gaming supplier licensed under the Ontario Gaming Commission. Effective May 31, 2007 HPSI sold its customer list and receives residual income from the sale of lottery tickets and as such does not carry on an active business as a gaming supplier. Accordingly the renewal of the license registration for this business was left to expire in February 2008.

The Company is presently reviewing various business opportunities including expansion of the existing business as well as new acquisitions, in an effort to expand its operating base as well as generating increased cash flow.