Eurocontrol Technics Inc.
TSX VENTURE : EUO

Eurocontrol Technics Inc.

January 24, 2006 09:55 ET

Eurocontrol Provides Update on Turkish Contract

TORONTO, ONTARIO--(CCNMatthews - Jan. 24, 2006) - Eurocontrol Technics Inc. (TSX VENTURE:EUO) Further to Eurocontrol's press release dated January 5, 2006 on the rescission of the Turkey contract to its subsidiary, GFI Petromark Ltd., the Company has now started legal proceedings in the Supreme Court of Turkey. GFI has retained a legal team headed by Mr. Dincer Sen, a well-known Turkish lawyer. EMRA (the Energy Market Regulatory Authority of Turkey), the entity responsible for awarding these contracts, has been officially notified by the Court of our appeal and has to respond within 30 days. Our lawyers now advise us that a decision will likely be made by early to mid February 2006.

Eurocontrol's president, Gadi Gonen stated: "Our legal advisors have informed us that they feel positive about having the injunction granted in GFI's favor. This will then allow us to continue the process of having EMRA sign the contract to mark Turkey's oil supply. We therefore remain optimistic that the contract will be signed and that we can begin to execute the contract by May or sooner."

It is important to note that GFI has spent significant time and effort at the highest levels of the Turkish government, along with trade representatives of Israel and Canada to Turkey, to make sure that proper legal conduct is followed by EMRA to honor the tender award won by GFI in November 2005.

About Eurocontrol Technics Inc.

Eurocontrol Technics Inc. a Canadian-based company trading on the TSX Venture Exchange under the symbol "EUO." Eurocontrol is currently a minority owner of Global Fluids International S.A. (www.gfi-petromark.com) and is earning into a 51% interest (see press release dated November 10, 2005).

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