Coretec Inc.
TSX : CYY

Coretec Inc.

May 17, 2006 20:01 ET

Coretec Inc. Announces the Appointment of Andre Kern as Chief Financial Officer

TORONTO, ONTARIO--(CCNMatthews - May 17, 2006) - Coretec Inc. (TSX:CYY) today announced the appointment of Andre Kern as Chief Financial Officer . Mr. Kern will lead Coretec's finance and accounting organization as well as play a key role on the executive team with respect to strategy development, systems implementation and governance.

Mr. Kern received his Chartered Accountant (CA) designation in 1985 and his Certified Public Accountant (CPA) designation in 2002. He has held several senior accounting and finance positions since leaving public practice in 1990 as well as brings to Coretec related industry expertise with a major North American EMS company. Mr. Kern received his BA from the University of Toronto in 1985.

"We believe that Andre's familiarity with our industry will allow him to contribute immediately and meaningfully to several key operational initiatives that we already have underway. The fact that he has both CA and CPA designations will also prove to be very helpful given that we operate in multiple jurisdictions. We are looking forward to Andre leading an accounting team that can meet the challenges of governance while providing the services that our various operations teams require in order to optimize their respective financial metrics, "said Paul Langston, Coretec's President and CEO.

Coretec is one of the leading designers and fabricators of printed circuit boards for the prototype and quick turnaround production segments of the North American and European markets. Coretec distinguishes itself from its competitors by providing complete printed circuit board solutions, including design, advanced prototyping and quick turnaround production across an outstanding range of product technologies.

This news release includes forward-looking statements related to Coretec's future growth, industry trends, performance and financial and operational results. Such forward-looking statements are based on assumptions and expectations and involve significant risks and uncertainties which would cause actual results to vary materially from those contained in the forward-looking statements. Such risks and uncertainties include, but are not limited to, potential changes in the economy and the electronics and printed circuit board industries, customer order levels, product mix and inventory build-up; lower than expected or delayed sales; currency fluctuations; pricing and other competitive pressures in the electronics and printed circuit board industries; Coretec's ability to reduce costs; Coretec's ability to integrate past and any future acquisitions; and other risks and uncertainties listed in Coretec's various public filings at www.sedar.com including Coretec's most recent AIF and MD&A. These and other factors should be considered carefully and undue reliance should not be placed on Coretec's forward-looking statements. Coretec does not undertake to update any forward-looking statement that is contained in this press release or other communications.

Additional information about Coretec Inc. is available at www.coretec-inc.com.

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