Excel-tech Ltd.

Excel-tech Ltd.

October 29, 2007 11:05 ET

Excel-Tech Ltd. Obtains Interim Order in Connection with Proposed Plan of Arrangement and Mails Shareholder Meeting Materials

OAKVILLE, ONTARIO--(Marketwire - Oct. 29, 2007) - Excel-Tech Ltd. ("XLTEK") (TSX:NRV) announced today that it has obtained an Interim Order from the Ontario Superior Court of Justice (the "Court") approving various matters in connection with the Special Meeting of XLTEK shareholders to consider the proposed arrangement transaction with Natus Medical Incorporated (NASDAQ:BABY), including the mailing of a management information circular and form of proxy. The management information circular, letter of transmittal and form of proxy have been mailed to registered shareholders and have been posted and will be available on the SEDAR website of the Canadian Securities Administrators at www.sedar.com.

The special meeting will be held at 10:00 a.m. (Toronto time) on November 21, 2007 at the offices of Gowling Lafleur Henderson LLP, Suite 1600, 1 First Canadian Place, 100 King Street West, Toronto, Ontario M5X 1G5. If the proposed arrangement transaction is approved by not less than two-thirds of the
votes cast at the special meeting by the shareholders present at that meeting or represented by proxy, then final approval will be required and sought from the Court on or about November 26, 2007. Assuming all other conditions are satisfied or waived, the arrangement transaction is currently expected to close on November 28, 2007.


XLTEK is a medical technology company that designs, develops and sells proprietary medical devices. XLTEK's core business consists of its neuro diagnostic equipment, used by neurology specialists to assist in the diagnosis and monitoring of the central and peripheral nervous systems. These core products, marketed since 1997, are sold into three main markets: the epilepsy market, the sleep disorders market, and the neurophysiology market, including myopathy, neuropathy and surgical monitoring.

XLTEK is headquartered in Oakville, a suburb of Toronto, Ontario, Canada. The Company's common shares trade on the Toronto Stock Exchange (Symbol: NRV.TO). Additional information about XLTEK and its products may be found at www.xltek.com.

Cautionary Information Regarding Forward-Looking Statements

Certain statements contained in this release containing words like "believe", "intend", "may", "expect" and other similar expressions, are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the Company's forwardlooking statements include XLTEK's ability to close the arrangement transaction in the time period anticipated, if at all, which is dependent upon the parties' ability to receive the requisite regulatory approvals and to comply with the closing conditions to the transaction, some of which are beyond the control of XLTEK and Natus. More information about potential risk factors that could affect the business and financial results of XLTEK can be found in XLTEK's SEDAR filings, which can be accessed through XLTEK's web site at www.xltek.com

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