Ergoresearch Ltd

Ergoresearch Ltd

November 27, 2008 13:08 ET

Ergoresearch Discloses First Quarter 2009 Financial Results

MONTREAL, QUEBEC--(Marketwire - Nov. 27, 2008) - Ergoresearch Ltd "Ergoresearch" (TSX VENTURE:ERG)

Ergoresearch continues the achievement of its business plan, by announcing profits of $62 590 for the first quarter of fiscal year 2009 compared to $21 236 for the same quarter last year. During this first quarter, sales amounted to $612 127, an increase of 24.5% compared to Q1-2008. Ergoresearch has witnessed a complete turnaround, delivering record years for the last years with profits of $423 247 for the year ended June 30, 2008, of $210 111 for the year ended June 30, 2007, and of $159 502 for the year ended June 30, 2006. The Company previously benefited from important research to launch its patented technologies.

As previously announced, following the first quarter, Ergoresearch concluded the arms length acquisition of 100% of the assets of Orthoconcept Inc., a Quebec based company established in Laval. Orthoconcept specializes in providing orthotic and prosthetic devises in Quebec. This company established in 1990 provides orthotic and prosthetic products in Quebec, It holds the rights to the Orthoconcept, Podoconcept, orthobuy and Newskinparts trademarks. It has established itself as a leader in the industry by the quality of its products and the services provided by its employees.

The assets of Orthoconcept have been purchased through a subsidiary company, 9200-8127 Quebec Inc., renamed Orthoconcept (2008) inc., held by Ergoresearch Inc. in the proportion of 51%.

Mr. Sylvain Boucher, President & C.E.O. of Ergoreasearch stated: "Since the new management team has been appointed in 2005, it maintains its record breaking financial results with yet another profitable quarter. Inspired by such excellent results we can only continue on the road of profitability. "Mr Boucher added The acquisition of Orthoconcept is in line with our previously announced strategic growth business plan. The integration of Ergoresearch s manufacturing and design systems to Orthoconcept s activities and the marketing and administrative synergies should generate considerable economies of scale to propel us in future quarters.

Ergoresearch s management remains interested in new opportunities and does not exclude other acquisition projects in the coming fiscal year.

Forward-looking statements

Certain statements in this Press Release contain forward-looking statements and information that may entail certain risks related to uncertainties. Such statements are based on Management s expectations and no assurance can be given that potential future results or circumstances described in the forward looking statements will be achieved or will occur. Such risks factors include, but are not limited to, those related to the Company s ability to finance its activities, competition, fluctuations in operating results, the impact of general economics, industry and market conditions, the ability to recruit and retain qualified employees, fluctuations in cash flow, expectations regarding market demand for particular products and the dependence on new product development.

The reader should not give great importance to forward-looking statements as (i) the results may differ from conclusions, predictions or projections contained in such forward-looking statements; and (ii) certain important factors or hypothesis taken into account in reaching conclusions or the preparation of a projection or prediction may prove to be incorrect in fact.

Management disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Ergoresearch Ltd ( through its subsidiaries ( and (, is a leading general and foot orthotics manufacturer as well as being on the leading edge of durable medical equipment development in the orthopaedic industry. The Company owns patented technologies that confer competitive advantages in the industry and relies on its undeniable knowledge of consolidation in the healthcare industry.

The TSX Venture exchange has not reviewed and does not accept responsability for the adequacy or accuracy of this press release.

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