Pacific Safety Products Inc.
TSX VENTURE : PSP

Pacific Safety Products Inc.

May 26, 2006 06:00 ET

Pacific Safety Products Inc. Corporate Update

KELOWNA, BRITISH COLUMBIA--(CCNMatthews - May 26, 2006) - Pacific Safety Products Inc. (TSX VENTURE:PSP) ("PSP" or "the Company") today announced that it has been awarded a contract modification from Public Works and Government Services Canada for the supply of 10,000 Fragmentation Vest carriers. This amendment is valued at $1.4 million, bringing the total value for this contract to $31.8M.

"We continue to see growth in this area of our business and look forward to future opportunities for enhancing these products," says Gerry Bush, President.

The Company also announced that Lori Field, Corporate Secretary, will take retirement from PSP effective June 30, 2006. "Lori has served the Company and the Board with exemplary dedication and a professional approach to its affairs," stated David Scott, CEO & Chairman. "We look forward to a continued relationship with Lori as both a shareholder and as a source of corporate knowledge."

Valerie Dougans, the Company's Chief Financial Officer, will assume the additional role of Corporate Secretary effective June 30, 2006.

The Company has also retained the services of Lecia Stewart to assist the senior management team in its strategic planning. Ms. Stewart brings to PSP 20 years of public and private sector experience in transportation, major infrastructure project management, negotiations, communications and labor relations. For the past four years, she has been a Director of the Canadian Air Transport Security Authority.

OVERVIEW OF THE BUSINESS

About PSP

The mission statement of Pacific Safety Products Inc. is ...we bring everyday heroes home safely™. PSP is an established industry leader in the production, distribution and sale of high performance and high quality safety products. These products primarily include body armor to protect against ballistic, stab and fragmentation threats. PSP is the largest armor manufacturer in Canada and has significant international customers. The Company also produces tactical clothing and emergency medical kits.

Pacific Safety Products is a reporting issuer in British Columbia, Alberta and Ontario, Canada and publicly trades under the symbol PSP on the TSX Venture Exchange.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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