Contec Innovations Inc.
TSX VENTURE : BUZ

Contec Innovations Inc.

November 17, 2006 19:08 ET

Contec Completes Issuance of Employee Shares

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 17, 2006) - Further to the news release dated October 31, 2006, Contec Innovations (TSX VENTURE:BUZ), a provider of mobile Internet infrastructure software, has completed the issuance of 139,563 common shares to employees of the Company at a deemed price of C$0.19 per share.

The shares covered under this issuance represents the amount certain employees purchased for the month of October 2006 under an optional program that enables them to invest in shares of the Company by being paid a percentage of their salary in common shares.

The TSX Venture Exchange accepted this transaction on November 7, 2006 and the shares issued will be subject to a four-month hold period expiring March 8, 2007.

ON BEHALF OF THE BOARD OF DIRECTORS OF CONTEC INNOVATIONS

Don Lay, CEO

About Contec Innovations

Contec Innovations (TSX VENTURE:BUZ) provides mobile data infrastructure software that accelerates the development and rollout of new mobile data services. Hornet™, Contec's core product, delivers a flexible and scalable application development, testing and hosting solution that quickly provisions operator branded services as well as manages third party, value-added service providers. Contec's business focus is China, the world's largest and fastest growing wireless marketplace with over 425 million mobile subscribers. Contec, headquartered in Vancouver, Canada has sales and support offices in China. For more information, visit www.contec.ca.

The statement made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations. Hornet™ is a trademark of Contec Innovations Inc.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein.

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