Mr. Anton Drescher, an officer and shareholder, reports

EARLY WARNING REPORT FILED PURSUANT TO NATIONAL INSTRUMENT 62-103

This press release is related to the securities of Oculus VisionTech Inc. Anton J. Drescher, chief financial officer, corporate secretary and a director of the company, has filed an early warning report pursuant to the requirements of National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (NI 62-103) and National Instrument 62-104 -- Take-Over Bids and Issuer Bids (NI 62-104) pursuant to the acquisition of an aggregate of eight million common shares in the capital of the company through a private sale at a price of 7.17 cents per share.

Prior to the acquisition, Mr. Drescher was the beneficial owner of 13,804,504 shares, representing approximately 15.0997 per cent of the issued and outstanding shares on an undiluted basis (based on an aggregate of 91,422,569 share issued and outstanding).

Upon completion of the acquisition, Mr. Drescher now holds 21,804,504 shares, representing approximately 23.8502 per cent of the issued and outstanding shares on an undiluted basis (based on an aggregate of 91,422,569 shares issued and outstanding).

The acquisition of the shares by Mr. Drescher were made in reliance on the private agreement exemption from the formal takeover bid provisions of NI 62-104, as outlined in Section 4.2 of Part 4 of NI 62-104. More specifically, (a) the acquisition was made from not more than five persons in the aggregate, including persons located outside the local jurisdiction; (b) the bid was not made generally to security holders of the class of shares; and (c) the value of the consideration paid for the shares, including brokerage fees or commissions, was not greater than 115 per cent of the market price of the shares at the date of the acquisition as determined in accordance with Section 1.11 of NI 62-104.

Mr. Drescher acquired the shares, for investment purposes. In pursuing such purposes, Mr. Drescher reserves the right to formulate other plans or make other proposals and take such actions deemed necessary with respect to his investment in the company. Depending on the market conditions and other factors, Mr. Drescher may, from time to time, increase or decrease his beneficial ownership of the securities of the company as deemed appropriate.

This news release is being issued in connection with the filing of the early warning report pursuant to the requirements of NI 62-103 and NI 62-104. A copy of the early warning report will be filed under the company's profile on SEDAR+ and may also be obtained by contacting: Roland Perkins at 403-483-3200.

The company's head office is located at No. 507 -- 837 West Hasting St., Vancouver, B.C., V6C 3N6, Canada.