Enablence Technologies Inc.

Enablence Technologies Inc.

August 11, 2008 13:03 ET

Enablence Announce Board Appointment and Creation of a Compensation Committee

OTTAWA, ONTARIO--(Marketwire - Aug. 11, 2008) - Enablence Technologies Inc. (TSX VENTURE:ENA), ("Enablence" or the "Corporation") a leading supplier of fiber-to-the-home (FTTH) equipment for triple-play residential and business services and optical components and subsystems for access, metro and long haul markets, announced today that its Board of Directors has appointed Steve Bower to the Board of Enablence and established a Compensation Committee. Mr. Bower is a Chartered Accountant and Chief Financial Officer (CFO) of the Consumers Waterheater Income Fund.

With the addition of Mr. Bower there are now seven directors, of which four are not officers of the Corporation. Mr. Bower will serve as the Chairman of the Audit Committee. The Compensation Committee established by the Board of Directors is comprised of Stephan Guerin (Chairman), Nishith Goel and John Ryan.

As announced on August 8, 2008 the Board of Directors granted options to employees to acquire a total of 4,342,000 shares of the Corporation. These were granted to certain officers (1,242,000) and other employees (3,100,000). The options' vesting schedule is in line with the Employee Stock Option Plan. The stock options have an exercise price of $1.15 per share, exercisable on or before August 7, 2018. After these grants, 4,000,000 common shares remain available for issuance under the Company's stock option plan.

About Enablence Technologies Inc.

Enablence Technologies Inc., (TSX VENTURE:ENA) a publicly traded company, designs, manufactures and sells optical components, subsystems and systems to a global customer base. With corporate headquarters in Ottawa, Ontario, Canada, the company has two divisions, the FTTx Networks Division and the Optical Components & Subsystems Division, which provide products for access, metro and long haul optical communications applications. The company's component products rely on proprietary planar lightwave circuit (PLC) technology to integrate multiple optical functionalities into a single optical chip to address the global rollout of Fiber to the Home (FTTH).

Forward Looking Statements

The statements in this press release may contain forward looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Corporation's expectations and projections. The TSX Venture Exchange has not approved this press release and does not accept responsibility for the adequacy or accuracy of this press release.

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