Automodular Corporation

Automodular Corporation

March 24, 2006 13:55 ET

Automodular Signs Equipment Financing Agreement

TORONTO, ONTARIO--(CCNMatthews - March 24, 2006) - Automodular Corporation ("Automodular")(TSX:AM) announces that it has signed a $6 million equipment financing agreement for assets to be purchased for its new program in Oakville, Ontario. The facility will be repaid in equal monthly installments over a 6-year term starting Q3 2006.

The closing of this agreement substantially completes the funding required by Automodular to complete its $22 million expansion in Oakville, Ontario.

Automodular is a supplier of sub-assembly, sequencing, transportation and logistics services to 6 OEM plants in Ontario, Michigan and Ohio. The Company has 7 operating facilities and employs over 800 people.

This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities and on the SEDAR website at The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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