Excel-tech Ltd.

Excel-tech Ltd.

November 21, 2007 12:26 ET

Excel-Tech Ltd. Announces Results of Shareholder Vote on Acquisition by Natus Medical Incorporated

OAKVILLE, ONTARIO--(Marketwire - Nov. 21, 2007) - Excel-Tech Ltd. ("XLTEK") (TSX:NRV) announced today that at its special meeting of shareholders held today (the "Meeting"), shareholders approved an arrangement involving the acquisition by a subsidiary of Natus Medical Incorporated ("Natus") of all of XLTEK's outstanding common shares for cash consideration of CDN$3.25 per share (the "Arrangement"). 12,775,907 common shares of XLTEK (approximately 67.15% of the outstanding common shares) were represented at the Meeting, in person or by proxy, and the Arrangement was approved by 99.98% of the votes cast at the Meeting.

XLTEK, Natus and their advisors expect that the balance of the conditions to the closing of the Arrangement will be satisfied over the next week including final court approval of the Arrangement scheduled for November 26, 2007. Assuming all other conditions are satisfied or waived, the closing of the Arrangement is anticipated to occur on November 29, 2007.


XLTEK is a medical technology company that designs, develops and sells proprietary medical devices. XLTEK's core business consists of its neuro diagnostic equipment, used by neurology specialists to assist in the diagnosis and monitoring of the central and peripheral nervous systems. These core products, marketed since 1997, are sold into three main markets: the epilepsy market, the sleep disorders market, and the neurophysiology market, including myopathy, neuropathy and surgical monitoring.

XLTEK is headquartered in Oakville, a suburb of Toronto, Ontario, Canada. The Company's common shares trade on the Toronto Stock Exchange (Symbol: NRV). Additional information about XLTEK and its products may be found at www.xltek.com.

Cautionary Information Regarding Forward-Looking Statements

Certain statements contained in this release containing words like "believe", "intend", "may", "expect" and other similar expressions, are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the Company's forward-looking statements include XLTEK's ability to close the arrangement transaction in the time period anticipated, if at all, which is dependent upon the parties' ability to receive the requisite regulatory approvals and to comply with the closing conditions to the transaction, some of which are beyond the control of XLTEK and Natus. More information about potential risk factors that could affect the business and financial results of XLTEK can be found in XLTEK's SEDAR filings, which can be accessed through XLTEK's web site at www.xltek.com.

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