CVTech Announces Record Net Earnings

The principal highlights of the 3rd quarter ended September 30, 2008 are the following:

- Revenues increased of 36% at $41.2 million compared to $30.3 million for the same quarter in 2007;

- Quarterly net earnings of $2.8 million compared to $1.1 million for the same quarter in 2007, the highest net earnings for a quarter in the Corporation's history;

- Quarterly basic net earnings per share of $0.05 compared to $0.02 for the same quarter in 2007, the highest basic net earnings per share for a quarter in the Corporation's history; and

- An increase of earnings before interest, taxes, depreciation and amortization ("EBITDA") of 74% at $6.4 million compared to $3.7 million for the same quarter in 2007.

OVERVIEW

CVTech is a management corporation. Some of its subsidiaries design, manufacture and sell CVTs. Another subsidiary, Thiro, provides services for the construction and maintenance of electrical transmission and distribution lines. It has two indirect subsidiaries: Thiro USA and J.J.L. Deboisement inc. ("J.J.L.") Thiro USA, like Thiro, provides services for the construction and maintenance of electrical transmission and distribution lines. J.J.L. specializes in vegetation control on rights-of-way for transmission and distribution lines. The subsidiary CVTech-AAB inc. specializes in the rebuilding of crankshafts and reconditioning of cylinders, and the distribution of engine parts.

CVTech is the owner of the trademarks and CVTech R&D inc. holds the intellectual property on products which are part of its technological solutions.

CVTech currently has a staff of approximately 682 employees comprising 163 employees in the CVT systems and related products segments and 519 employees in the electricity segment. -- www.cnxmarketlink.com