SOURCE: Plaintree Systems Inc.

November 19, 2008 08:00 ET

Plaintree Systems Announces a $2,800,000.00 Contract for an Aluminum and Steel Architectural Structure for Its Triodetic Division

OTTAWA--(Marketwire - November 19, 2008) - Plaintree Systems Inc. (CNQ: NPT) (OTCBB: PTEEF), today announced that its Triodetic's division entered into a contract worth more than USD $2.8 million for the engineering and manufacture of architectural details to complete the exterior design of a main building at the University of Texas Hospital Campus in Houston Texas. The bulk of the work on the project is expected in the 3rd Quarter of fiscal 2009.

"Triodetic has been a large contributor of key architectural details at the campus," said David Watson, Plaintree CEO. "This particular contract is for a heavily engineered tiara on the top of a 25 story building which serves as a crowning detail to the building. The structure will also incorporate and camouflage the structural steel required for the window washing gantries."

Plaintree's common shares are now listed in Canada on the Canada National Stock Exchange (CNSX) (formerly the Canadian Trading and Quotation System Inc. (CNQ)), under the symbol "NPT." Shareholders and Investors can access Company information on CNSX's website and receive full Company disclosure monthly. For more information on Plaintree or to receive stock quotes, complete with trading summaries, bid size and ask price, brokerage house participation, insider reports, news releases, disclosure information, and CNSX and SEDAR filings, visit the CNSX website at www.cnq.ca or the Company's website at www.plaintree.com.

About Plaintree Systems

The parent company, Plaintree Systems Inc. specializes in developing optical wireless communications equipment for Local Area, Wide Area, Voice, Internet and Security Networks. Plaintree also has two main divisions:

Hypernetics was established in 1972 and is a manufacturer of aero-space components for various applications including aircraft antiskid braking, aircraft instrument indicators, solenoids, high purity valves and permanent magnet alternators.

Triodetic, with over 40 years of experience, is a design/build manufacturer of steel, aluminum and stainless steel specialty structures such as commercial domes, free form structures, barrel vaults, space frames and industrial dome coverings.

Plaintree is publicly traded in Canada on the CNSX (NPT) and in the U.S. on the OTC BB (PTEEF), with 12,522,143 common shares and 18,325 class A preferred shares outstanding.

This press release may include statements that are forward-looking and based on current expectations. The actual results of the company may differ materially from current expectations. The business of the company is subject to many risks and uncertainties, including changes in markets for the company's products, delays in product development and introduction to manufacturing and intense competition. For a more detailed discussion of the risks and uncertainties related to the company's business, please refer to documents filed by the company with the U.S. Securities and Exchange Commission and Canadian regulatory authorities, including the Company's Form 20-f dated September 26, 2008.

Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • For further information:
    Plaintree Systems
    (613) 623-3434 ext 3002