Priva Inc.
TSX VENTURE : PIV

Priva Inc.

January 31, 2007 11:22 ET

Priva Eliminates All Long-Term Debt & Cancels Warrants

MONTREAL, QUEBEC--(CCNMatthews - Jan. 31, 2007) - Mr. David Horowitz, President and CEO of Priva Inc. (TSX VENTURE:PIV) is pleased to announce that Priva has paid off its outstanding long-term convertible debenture of $600,000 plus accrued interest that was due to the Business Development Bank Of Canada (BDC).

Part of the proceeds from the Company's recent sale of Priva (USA) Inc. were used to eliminate all of the of the Company's long-term debt obligations, including a small software loan. In connection with the recent sale, Priva Inc. has cancelled 1,000,000 Warrants that were originally scheduled to expire in 2010.

Priva's President & C.E.O, David Horowitz, stated "The ability to pay off all of the Company's long-term debts will reduce overall annual interest charges. In addition, by canceling the outstanding 1,000,000 Warrants, the annual expense charges related to the Warrants have now been eliminated".

Montreal based Priva Inc. is a leading manufacturer, distributor and marketer of an assortment of absorbent, waterproof textile products sold to retailers in Canada, the US, the UK, Australia and New Zealand, with export sales representing just about 60% of sales. Priva's products for adults are sold under the Priva and Americare™ labels; children's products are marketed under the "Snoozy™" and "Tidy Turtle™" brand names and Priva's anti-allergen products are sold under the Quorum™ and Zip & Block™ labels.

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

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