Coretec Inc.

Coretec Inc.

March 03, 2005 17:18 ET

Coretec Announces Delay in Release of Fourth Quarter and Year 2004 Financial Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CORETEC INC.

TSX SYMBOL: CYY

MARCH 3, 2005 - 17:18 ET

Coretec Announces Delay in Release of Fourth Quarter
and Year 2004 Financial Results

TORONTO, ONTARIO--(CCNMatthews - March 3, 2005) - Coretec Inc. (TSX:CYY)
announced today that it will delay the scheduled release of its
financial results for the fourth quarter and year 2004 pending analysis
of the accounting treatment of certain unrealized income tax recoveries
related to prior periods. As a result, the Company has also cancelled
the conference call to discuss the financial results scheduled for March
4, 2005 at 8:30 EST. The Company anticipates the accounting treatment of
the recoveries, if any, will be finalized within a week and will advise
as to the rescheduled earnings release date as soon as practicable. The
delay in the release of the Company's financial results is not due to
any material difference between management and the Company's auditors on
matters of presentation in the 2004 annual financial statements.

Coretec is one of the leading fabricators of printed circuit boards for
the prototype and quick turnaround production segments of the North
American and European markets. Coretec distinguishes itself from its
competitors by providing complete printed circuit board service
solutions, including highly engineered design, advanced prototyping and
quick turnaround production.

This news release may include statements about future expectations,
plans and prospects that may constitute forward-looking statements.
Please be cautioned that any such forward-looking statements are not
guarantees of future performance and involve significant risks and
uncertainties. Actual results or developments may vary materially from
those projected or implied in the forward-looking statements as a result
of any number of factors, including currency exchange rate fluctuations;
variability of operating results; dependence on certain industries;
management of growth and expansion; integration of operations; ability
to attract and retain key personnel; nature of sales; product complexity
and product defects; international operations; material cost
fluctuations and limited availability of raw materials; potential loss
of customers; competition; industry contraction and slow economic
growth; technological change and process development; environmental
liability; need for additional financing; product liability; pricing
pressure; ability to reduce costs; and other risks listed in Coretec's
public disclosure documents and other filings with securities regulatory
authorities found at www.sedar.com.

Additional information about Coretec Inc. is available at
www.coretec-inc.com.

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