UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON D.C.  20549


                                    FORM 8-K


                                 CURRENT REPORT
     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


       Date of Report (Date of earliest event reported): NOVEMBER 29, 2002


                 CYBERNET INTERNET SERVICES INTERNATIONAL, INC.
             (Exact name of Registrant as specified in its charter)


                                    DELAWARE
                            (State of Incorporation)


            000-25677                                    51-0384117
     (Commission File Number)               (I.R.S. Employer Identification No.)



                            1620 - 400 BURRARD STREET
                   VANCOUVER, BRITISH COLUMBIA V6C 3A6, CANADA
                        (Address of Registrant's office)


                                 (604) 683-5767
              (Registrant's telephone number, including area code)



ITEM  2.     ACQUISITION  OR  DISPOSITION OF ASSETS

Cybernet  Internet  Services  International,  Inc.  (the "Company"), through its
wholly-owned  subsidiary  Cybernet  Internet Dienstleistungen AG (the "Seller"),
entered  into  an  Asset  Purchase and Transfer Agreement dated November 7, 2002
(the "Agreement") with PSINET Germany GMBH ("PSINET GMBH") and PSINET DataCenter
Germany  GMBH  ("PSINET Germany") pursuant to which the Seller agreed to sell to
PSINET  GMBH  certain Customer Related Assets (as defined in the Agreement), and
agreed to sell to PSINET Germany certain Equipment Related Assets (as defined in
the  Agreement), associated with the Seller's computer data centers in Frankfurt
and  Munich,  Germany,  effective  November 1, 2002.

The  Agreement  contains  conditions  precedent,  representations,  warranties,
indemnities  and  covenants  reasonably customary for agreements of this nature.
The  Company  expects  the closing to occur in the last quarter of 2002 or early
2003.

ITEM  7.     FINANCIAL STATEMENTS AND EXHIBITS

EXHIBIT  NO.     DESCRIPTION
------------     -----------

 1               Asset  Purchase  and  Transfer  Agreement



                                   SIGNATURES


Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
Registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned  hereunto  duly  authorized.


                                                   CYBERNET  INTERNET  SERVICES
                                                   INTERNATIONAL,  INC.

                                                      "Michael  J.  Smith"
                                                   ----------------------------
                                                   Michael  J.  Smith
                                                   President


Date:     November  29,  2002