JEC II Associates, LLC

December 24, 2009 14:25 ET

JEC II Associates, LLC Acquires Common Shares of GSI Group, Inc.

TORONTO, ONTARIO--(Marketwire - Dec. 24, 2009) - JEC II Associates, LLC of Randolph, Massachusetts ("JEC") announced today that on December 22, 2009, it acquired through purchases on the NASDAQ Stock Market or Electronic OTC Market an aggregate of 716,238 common shares of GSI Group, Inc. ("GSI") at a price of $1.0134 (US$ 0.9656) per share for an aggregate purchase price of $725,835.58 (US$691,599.41). Together with previously owned common shares, JEC now holds an aggregate of 4,766,972 common shares, representing approximately 10.02% of the issued and outstanding common shares of GSI, based on GSI's last public disclosure of outstanding common shares.

The shares are being acquired for investment purposes. Future purchases or sales will depend upon market conditions, compliance with applicable regulatory requirements and other factors.

This news release is being issued pursuant to Part 3 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report filed by JEC in connection with the acquisition is available on GSI's SEDAR profile, and it can also be obtained directly from JEC by contacting the representative of JEC, Michael Torok at (617) 680-6709 or Michael@jeccapital.com.

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