MTI Global Inc.

MTI Global Inc.

May 25, 2005 13:55 ET

Magnifoam Technology International Inc. Renamed MTI Global Inc.

MISSISSAUGA, ONTARIO--(CCNMatthews - May 25, 2005) - Magnifoam Technology International Inc. (TSX:MTI) today announced that its new corporate name will be MTI Global Inc. The change was approved by shareholders on May 11, 2005.

The change of name is part of the corporate strategy to leverage brand equity across the Company's three business platforms, while incorporating the overall MTI label for consistency. The change will also help communicate the Company's range and extent of international operations.

The Company's stock will continue to trade on the TSX under the symbol MTI, but on or about May 27, 2005, trading will begin under the new name MTI Global Inc.

About the Company

MTI Global Inc. (MTI) designs, develops and manufactures custom-engineered products using silicone and other cellular materials. The Company serves a variety of specialty markets focused on three main product categories: Silicone, Aerospace and Fabricated Products. MTI's manufacturing divisions develop and produce silicone foam using patented technology. The Company design and fabricates energy management systems from a variety of flexible, cellular materials. MTI also produces and distributes specialty silicone elastomer products. MTI's primary markets are aerospace and mass transit. Secondary markets include sporting goods, automotive, industrial, institutional, medical and electronics markets. MTI's head office and Canadian manufacturing operations are located in Mississauga, Ontario, with international manufacturing operations located in Richmond and Buchanan, Virginia, and Bremen, Germany. The Company also has sales operations in England and Sweden, and an engineering support centre in Brazil.

Contact Information