Excel-tech Ltd.

Excel-tech Ltd.

September 26, 2007 17:20 ET

XLTEK Announces New Board of Directors Appointment

OAKVILLE, ONTARIO--(Marketwire - Sept. 26, 2007) - Excel-Tech Ltd. ("XLTEK") (TSX:NRV) announced today that Dr. Eric M. Yoder had been appointed to the Company's Board of Directors.

Dr. Yoder has a long and extensive career in the medical profession, health plan medical management and related fields. Most recently he was Executive Vice President and Chief Medical Officer of Amerigroup Corporation of Virginia Beach, Virginia, a leading provider of managed healthcare services for the public sector. Dr. Yoder was responsible for health plan medical management oversight, medical management program development, quality management and reporting, pharmacy strategy and operations, behavioral health, disease management, health promotion, and the HIPAA privacy program. He received his Bachelor of Science degree from the University of Maryland, his MD from the Duke University School of Medicine, and an MBA from the University of Oregon.

"We are very fortunate to have someone with Dr. Yoder's background and proven expertise join our Board of Directors," commented John Mumford, President and CEO. "His extensive experience with the US Medicaid and Medicare systems, and how cost and clinical outcome criteria are evaluated by insurers and providers to approve reimbursements, will prove invaluable as we continue to extend our presence in the North American medical technology business."

Dr. Yoder replaces Mr. K. Chipman Vallis, who is retiring from XLTEK's Board of Directors.

"We thank Chip for his contributions to the Board and management over the past six years, and wish him well in his future endeavors," Mr. Mumford concluded.


XLTEK is a medical technology company that designs, develops and sells proprietary medical devices. XLTEK's core business consists of its Neuro-Diagnostic Equipment, used by neurology specialists to assist in the diagnosis and monitoring of the central and peripheral nervous systems. These core products, marketed since 1997, are sold into three main markets: the epilepsy market, the sleep disorders market, and the neurophysiology market, including myopathy, neuropathy and surgical monitoring. Revenue from these core market segments currently generates the majority of XLTEK's revenue. The Company is leveraging these proprietary technologies and strong market position to develop new and related products targeted at complementary markets.

XLTEK is headquartered in Oakville, Ontario, Canada. The Company's common shares trade on the Toronto Stock Exchange (Symbol: NRV.TO). Additional information about XLTEK and its products may be found at www.xltek.com.

Forward-Looking Statements:

Certain statements contained in this release containing words like "believe", "intend", "may", "expect" and other similar expressions, are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the Company's forward-looking statements include the following: market acceptance of our technologies and products; our ability to obtain financing; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain and develop partnership opportunities; the timing of commercial product launches; the ability to achieve key technical milestones in key products and other risk factors identified from time to time in the Company's filings.

The consolidated financial statements and Management's Discussion and Analysis for the period can be found at www.xltek.com.

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