CIMATEC ENVIRONMENTAL ENGINEERING INC.
TSX VENTURE : CEG

CIMATEC ENVIRONMENTAL ENGINEERING INC.

November 07, 2006 15:56 ET

Cimatec Files Restated Financial Statements

TORONTO, ONTARIO--(CCNMatthews - Nov. 7, 2006) - Further to the news release dated October 19, 2006, Cimatec Environmental Engineering Inc. (TSX VENTURE:CEG) today filed restated audited consolidated financial statements for the year ended December 31, 2005, primarily to correct the calculations relating to stock option expenses and for accounting for warrants issued by Cimatec in 2005. The amount of $308,000 was reported for stock option expenses, which increased the cost of sales and other expenses from $2,887,945 to $3,195,945. The value of warrants issued was increased by $52,400 to $69,000.

The restated audited consolidated financial statements for the year ended December 31, 2005 have been posted on SEDAR and may be viewed at www.sedar.com.

This announcement is being made in accordance with Cimatec's disclosure policies, adopted pursuant to applicable Canadian regulatory rules and policies.

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

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