Ialta Industries Ltd.

Ialta Industries Ltd.

June 29, 2005 09:18 ET

Ialta Industries Ltd.: Successful Automated Meter Reading Program in West Africa

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 29, 2005) - Ialta Industries Ltd. (CNQ:ILTA) (the "Company") is pleased to announce that Synaptech Solutions Inc. ("Synaptech"), a wholly owned subsidiary of the Company, has concluded a successful Automated Meter Reading (AMR) pilot program in Abidjan, Cote D'Ivoire (Ivory Coast). This pilot program received technical approval from electrical utility Compagnie Ivoirienne d'Electricite (CIE) for the deployment of Synaptech digital meters on existing power lines, for use in the EMpower system. This approval enhances Synaptech's position in delivering AMR solutions to developing nations. These markets desperately require solutions for inefficient data collection and monitoring, which in turn improves the revenue model for utility providers. CIE is defining a grid area in which to explore implementation of a larger, primary phase deployment of the Synaptech EMpower system. Currently CIE has over 900,000 electricity consumers and is expanding electrification at a rate of 5% year-over-year.

The demand in the Ivory Coast is very strong for technology that will help combat revenue losses due to power theft, graft, and billing mistakes. "The EMpower solution will work extremely well with the utility's digital metering infrastructure," states Mr. Mark Kauhane, President of Synaptech. "CIE will effectively leap frog in metering and information technology providing access to immediate consumption data and improving Customer Relations Management that would have been previously far too costly to attain."

"We are extremely pleased with the results of our AMR test with Synaptech Solutions," states CIE Deputy Director for Distribution, M. Daniel Sampah. "Our initiative is to replace all of the existing mechanical meters with advanced digital meters that have the ability to interface with an energy management network such as the EMpower system".

The Company's projects in the other West African markets continue to develop, with pilot projects under review. In the Republic of Congo, electrical utility SNE continues to operate and evaluate data from the installed EMpower pilot site. Discussions with the utility's new management are planned to resume with a focus on providing a "fair and equitable' metering, billing, and collection infrastructure. In Senegal, electrical utility Senelec has approved the EMpower system at a technical level. Budgeting plans are underway for deployment in 2006.

About Synaptech Solutions Inc.

Synaptech provides energy management solutions (EMS) for the global energy and utility markets. Incorporating various communications technologies -- wired, wireless, radio frequency and power line -- Synaptech provides an end-to-end Automatic Meter Reading (AMR) solution. Synaptech has secured the use of such technologies by way of licensing agreements, original equipment manufacturer agreements and distribution agreements. For more information, please visit www.ialtaindustries.com or www.synaptechinc.com.

On Behalf of the Board of Directors

Ialta Industries Ltd.

signed "Mark Kauhane"

Mark Kauhane, President

Certain matters discussed in this press release may contain forward-looking statements. Investors are cautioned that all statements, other than statement of historical fact, involve risks and uncertainties, including but not limited to: product development delays, the ability to attract and retain business partners, competition from other AMR manufacturers, competition from existing power line technologies, and the ability to provide the capital required for product development, operations and marketing. There can be no assurance that such statement will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Investors are encouraged to review the Company's filings on SEDAR at www.sedar.com.

Contact Information