Aastra Technologies Limited

Aastra Technologies Limited

October 31, 2007 15:55 ET

Aastra Provides Update on ABCP Investments

TORONTO, ONTARIO--(Marketwire - Oct. 31, 2007) - Aastra Technologies Limited (TSX:AAH) announced today that, as expected, it received cash proceeds of $5,247,000 upon the maturity of its investment in the Lafayette Structured Credit Trust.

As a result the Company's holdings of asset backed commercial papers ("ABCP") are now limited to approximately $8.6 million in the Structured Investment Trust III which was not paid back to the Company on its maturity earlier this month. The Company will continue to monitor this situation.

About Aastra Technologies Limited

Aastra Technologies Limited (TSX:AAH) is a global company at the forefront of the Enterprise Communication market. Headquartered in Concord, Ontario, Canada, Aastra develops and delivers innovative and integrated solutions that address the communication needs of businesses small and large around the world. Aastra enables Enterprises to communicate and collaborate more efficiently and effectively by offering customers a full range of open standard IP-based and traditional communications networking products, including terminals, systems, and applications. For additional information on Aastra, visit our website at http://www.aastra.com.

This press release contains forward-looking information or forward-looking statements within the meaning of applicable securities legislation ("forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as "believes", "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", or "intends" or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken or achieved) are not statements of historical fact, but are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Aastra, or developments in Aastra's business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Please refer to the heading "Risk Factors" in our annual information form filed on www.sedar.com, for the material factors that could cause our actual results to differ materially from the forward-looking statements made today. Forward-looking statements include, but are not limited to: Aastra's expectation that's its portfolio of asset-backed commercial paper will not have a material adverse impact on its ability to funds its current operations or implement planned business development initiatives. The material factors and assumptions that were applied in making such forward-looking statements today include: that our remaining portfolio of cash and short-term investments are well diversified among cash deposits at various banks, treasury bills (T-Bills) issued by various governments, banker's acceptance (BAs) issued by various banks and highly-rated, short-term corporate bonds; and that the recent disruption in the Canadian credit market for asset-backed commercial paper will not materially adversely disrupt the credit market, in general, and specifically relating to the creditworthiness of Canadian banks and highly-rated, short-term corporate bonds . It is important to note that: unless otherwise indicated, forward-looking statements in this press release describe Aastra's expectations as of the date of this press release; Aastra cautions readers not to place undue reliance on the forward-looking statements in this press release as actual results may differ materially from expectations if known and unknown risks or uncertainties affect Aastra's business, or if estimates or assumptions prove inaccurate. Therefore, Aastra cannot provide any assurance that forward-looking statements will materialize and Aastra assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or other reason.

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