Cryopak Industries Inc.

Cryopak Industries Inc.

March 10, 2005 09:00 ET

Cryopak Announces Consolidation/Stock Split


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CRYOPAK INDUSTRIES INC.

TSX VENTURE SYMBOL: CII
OTC Bulletin Board SYMBOL: CYPKF

MARCH 10, 2005 - 09:00 ET

Cryopak Announces Consolidation/Stock Split

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 10, 2005) - Cryopak
Industries Inc. (TSX VENTURE:CII)(OTCBB:CYPKF) announces that it is
proceeding with the share consolidation and subsequent share split
approved at the Annual General Meeting held September 23, 2004. The
consolidation and subsequent split will be effective at midnight on
March 21, 2005 and will effectively result in a 1 (new) for 6 (old)
share consolidation. The common shares of the Company will commence
trading on a post-consolidated basis on the opening of trading on
Monday, March 21, 2005. Holders with less than 6,000 old common shares
will have their shares purchased and be entitled to receive $0.0578 per
old common share, being the weighted average trading price per share on
the TSX Venture Exchange during the preceding five (5) trading days.

After the consolidation and split, the common shares of the Company will
trade on the TSX Venture Exchange under the symbol "CYK".

All registered shareholders of the Company as of March 21, 2005 will be
sent information packages from the Company's registrar and transfer
agent, CIBC Mellon Trust Company, allowing shareholders holding less
than 6,000 old common shares to receive the cash consideration for their
shares or those holding more than 6,000 old common shares to exchange
their share certificates for new share certificates, as the case may be.

Only registered shareholders are required to complete, sign and submit
the letter of transmittal. Shareholders who own shares beneficially
through their broker, bank or other intermediary are not required to
submit a letter of transmittal.

About Cryopak

With facilities in Vancouver and Montreal, we are a leading provider of
temperature-controlling products and solutions. Our clients include some
of North America's leading retailers and consumer goods companies, as
well as global pharmaceutical companies. In our retail business, we
develop, manufacture and sell reusable ice substitutes, flexible hot and
cold compresses, reusable gel ice and instant hot and cold packs. These
products are marketed under such popular brand names as Ice-Pak™,
Flexible Ice™ Blanket, Simply Cozy®, and Flex Pak™. In our
pharmaceutical business, we engineer solutions and supply products that
help our customers safely transport their temperature sensitive
pharmaceuticals. Over the past few years we have evolved into a
recognized player in this growing segment as we assist customers in
optimizing their cold chain processes. Our shares are listed on the TSX
Venture Exchange under the symbol CII.

ON BEHALF OF THE BOARD OF DIRECTORS

Martin Carsky, President and CEO

Certain statements contained herein are "forward-looking" statements (as
such term is defined in the Private Securities Reform Act of 1995).
Because such statements include risks and uncertainties, actual results
may differ from those expressed or implied by such forward-looking
statements.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Cryopak Industries Inc.
    Martin Carsky
    President and CEO
    1-800-667-2532
    www.cryopak.com