July 18, 2005 16:30 ET

Ceapro Announces Granting of Stock Options

EDMONTON, July 18 - Ceapro Inc. (TSX VENTURE:CZO) today announced the
granting of 400,000 stock options subject to approval by the TSX-Venture
Exchange. Mr. Shawn McMillan, an officer of Ceapro, was awarded 150,000
options and Consultants were awarded 250,000. The exercise price is $0.28,
the closing price of Ceapro's shares on the date of the grant.

The options were awarded in accordance with the Stock Option Plan
approved by Shareholders on June 1, 2005 and by the TSX-Venture Exchange on
July 6, 2005.

"We are pleased to use our Stock Option Plan to recognize the significant
contributions made by these individuals to advance Ceapro's markets,
especially in the field of our CeaProve™ diabetes screening, diagnostic,
and management technology. Stock options are also critical in retaining key
employees and providing incentive to increase their proprietary interest in
the Company."

About Ceapro

Ceapro Inc., an innovation-driven biotechnology company, develops and
commercializes organic products for medical, cosmetic, and animal health
industries using proprietary technology and natural, renewable resources.
Based in Edmonton, Alberta, Ceapro is one of Alberta Venture's Fastest
Growing Companies for 2004 and 2005 and is one of Profit Magazine's Next 100
Companies. Ceapro is also the recipient of the ASTech Award for Outstanding
Commercial Achievement for companies with annual sales of less than $25
million. Ceapro's shares trade on the TSX Venture Exchange under the symbol
CZO. To learn more about Ceapro, log on to our website at www.ceapro.com.
Shares Outstanding: 36,355,950, Recent Close: $0.28.

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

This release may contain forward-looking statements. Various factors
could cause actual results to differ materially from those projected in
forward-looking statements. Although the Company believes that the
forward-looking statements contained herein are reasonable, it can give no
assurance that the Company's expectations are correct. All forward-looking
statements are expressly qualified in their entirety by this cautionary

Contact Information

  • Dr. Mark Redmond, President and CEO, Ceapro
    Inc., Telephone: (780) 421-4555