Mindready Solutions Inc.

Mindready Solutions Inc.

June 06, 2006 16:43 ET

Mindready Solutions Obtains an Extension for the Presentation of its Annual Financial Statements and Management Cease Trade Order is Maintained

MONTREAL, QUEBEC--(CCNMatthews - June 6, 2006) - Mindready Solutions Inc. (TSX:MNY) hereby reports that, contrary to what was previously announced, the annual report, the annual financial statements and the management discussion and analysis (MD&A) for the fiscal year ending December 31, 2005 could not be issued before June 5, 2006. Mindready is now in discussions with its auditors and the AMF to agree upon a further extension that will allow all parties to precisely evaluate the impact and appropriate accounting related to the failed transaction with United Tri-Tech Corporation.

The company is still currently under a management cease trade order resulting from the non-deposit of its financial statements before the prescribed deadline and its inability to issue them. The company will continue issuing notices of default to keep the market informed of the situation. The interim financial statements for the quarter ending March 31, 2006 should be released in the days following the publication of the annual financial statements.

Furthermore, an issuer cease trade order may be imposed by the regulatory authorities for reasons such as Mindready failing to file the aforementioned documents prior to the date that will officially be determined in the next few days.

Mindready Solutions Inc. (TSX:MNY) is a leading supplier of innovative end-to-end solutions for new electronic product introduction, from design to manufacturing and test systems, serving the aerospace & defense, wireless telecommunication and automotive & transportation markets. Mindready serves clients such as Lockheed Martin, Raytheon, Northrop Grumman, Boeing, Visteon, Rockwell Collins, NASA, Ford, Nissan, Motorola, Panasonic, Renault, Harris, Flextronics, Nortel and Alcatel. More information about Mindready and its products, systems and engineering services can be found at www.mindready.com.

The statements regarding the company's future operating results, performance and business prospects contained in this press release, and any other statements not constituting historical information, are forward-looking statements. These forward-looking statements reflect the company's current opinions and assumptions with respect to future business decisions and results, and are based on the information currently available to the company. Accordingly, these statements are subject to risks, uncertainties and contingencies that could cause the company's future operating results, performance or business prospects to differ from those expressed in, or implied by, these statements.

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