Omnitech Consultant Group inc.
TSX VENTURE : GCO

Omnitech Consultant Group inc.

October 16, 2006 09:00 ET

GCO's Founder Continues to Financially Support the Company

QUEBEC CITY, QUEBEC--(CCNMatthews - Oct. 16, 2006) - Omnitech Consultant Group Inc. ("GCO") (TSX VENTURE:GCO) announces that Mr. Claude Belley, Vice-Chairman of the Board and Strategic Advisor, extended a loan of $250,000 to the company on October 10, 2006, through his holding company, 9137-4470 Quebec Inc., in order to satisfy certain conditions for the renewal of the credit terms granted to GCO by the Laurentian Bank of Canada, notably a reduction in GCO's line of credit. This $250,000 loan will be guaranteed through mortgages against the entirety of the assets of GCO, Toptech Groupe Conseil inc. and Le Groupe Isac inc.

Mr. Belley has previously lent the company, to finance its cash flow, the amounts of $238,313.46 on May 18, 2006 and $107,500 on August 2, 2006, through promissory notes bearing an annual interest of 9% payable monthly and expiring on May 18 and August 2, 2008 respectively. Subject to the approval of the TSX venture Exchange, the notes are, at the option of the bearer, replaceable in debentures that will be convertible into units, each unit being composed of one common share of GCO and one warrant at a conversion price equal to the closing price of the shares of GCO on the date before such replacement.

"We would like to thank Mr. Belley, GCO's founder, for its continued financial support and his trust in the company", stated Mr. Philippe Collard, GCO's Chief Executive Officer.

About Omnitech Consultant Group Inc. ("GCO")

GCO is a Canadian leader in performance engineering. GCO offers solutions as a one-stop-shop in engineering, information technology and systems maintenance. GCO is capable of intervening in all aspects of industrial engineering and information technology, thus combining a major and distinctive niche compared with the competition. GCO integrates new technologies or optimizes existing systems by applying cutting-edge expertise currently used in the best practices.

TSX Venture Exchange Inc. assumes no responsibility regarding the relevance or accuracy of this press release.

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