October 02, 2006 09:00 ET

Ceapro Reports Management Changes

EDMONTON, Oct. 2 - Ceapro Inc. (TSX VENTURE:CZO) today announced the
appointment of Mr. Branko Jankovic as Controller, effective today. For the
past nine years, Mr. Jankovic has been a business consultant providing
consulting services to public, private, and government clients. He currently
serves as a director of ProMetic Life Sciences Inc. (TSX:PLI). Mr. Jankovic
graduated from Lakehead University in 1983 with a Bachelor's Degree in
Commerce and was awarded Dean Braun medal for top standing. He articled with
Collins Barrow in Edmonton and obtained the Chartered Accountant designation
in 1985 from the Institute of Chartered Accountants in Alberta.

With regret, we announce the resignation of Mr. Shawn McMillan as Chief
Financial Officer, effective October 15, 2006. Mr. McMillan has accepted a
senior position with a public security firm in Edmonton. The Board and
Management of Ceapro thank him for his service and contribution to the Company
and wish him well in his new position. Ceapro's President and CEO, Dr.
Redmond, will serve as CFO on an interim basis until a new appointment is

About Ceapro Inc.

Ceapro Inc. is a growth stage biotechnology company. Ceapro's core
technology is the extraction of functional, active ingredients. We will
continue to add value to our extracts by manufacturing medical and therapeutic
products, support the use of our extracts in products for human and animal
health, and introduce health and wellness services employing our CeaProve®
diagnostic technology. Ceapro shares trade on the TSX Venture Exchange under
the symbol CZO. To learn more about Ceapro, visit our website at
www.ceapro.com. Shares Outstanding: 37,098,670, Recent Close: $0.32.

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 & CEO, Ceapro Inc.,
    Telephone: (780) 421-4555