Diversinet Approves Reverse Stock Split

One-For-Ten Reverse Stock Split Approved by Shareholders at Annual Meeting

TORONTO, Canada, January 23, 2003 – Diversinet Corp. (NASDAQ Small Cap: DVNTC), a leading provider of secured mobile solutions, today announced that its Board of Directors has approved a 1-for-10 reverse stock split of the Company’s outstanding common shares. This move followed a vote January 22, 2003, at the Diversinet Annual and Special Shareholders’ Meeting in which a majority of shareholders authorized the board to effect the reverse stock split.

As a result of the reverse stock split, every ten shares of Diversinet common stock will be exchanged for one share of Diversinet common stock. The reverse stock split affects all shares of common stock, stock options and warrants outstanding as of immediately prior to the effective time of the reverse stock split. The number of shares of Diversinet common stock currently outstanding is 33,222,084.

“We would once again like to thank our shareholders for their continued support,” said David Hackett, Chief Financial Officer, Diversinet Corp.

About Diversinet Corp.
Diversinet is a leading provider of secured mobile solutions to the enterprise, financial services, and gaming and wagering marketplaces. With demonstrated expertise in wireless and security, Diversinet delivers secure, reliable and scalable mobile solutions through security products and professional services such as application development and integration, consulting, training and technical support. Diversinet enables customers and their employees to securely access applications and critical corporate information from anywhere, at anytime and via any mobile device.

Diversinet is headquartered in Toronto, Canada, with offices in Fremont, California; Hong Kong, SAR; and London, England. For more information visit www.diversinet.com.