Mindready Solutions Inc.

Mindready Solutions Inc.

August 09, 2007 19:57 ET

Mindready Solutions appoints new President and CEO

MONTREAL, CANADA--(Marketwire - 9 août 2007) - Mindready Solutions Inc. (TSX: MNY) announces the appointment of Jean Mayer as President and Christian Moreau as CEO, effective immediately. Mr. Mayer has also been appointed to the Board of Directors. Mr. Mayer and Moreau were the company's General Counsel and Vice President, Operations, respectively. The company also announces the appointment of Vladimir Ivanov, who recently joined Mindready, as Vice President, Finance. Mr. Marc Lamy, who occupied the position of President, CEO and CFO, has resigned and left the company.

Mindready Solutions, currently subject to a cease trade order until it
files its audited annual consolidated financial statements, its annual MD&A
and its annual information form for the year ended December 31, 2006, as well
as its interim consolidated financial statements that will be due on the
filing date, also announces that its external auditors will resume their work
in the near future to complete the audit of the company's 2006 consolidated
financials statements in order for the company to file the continuous
disclosure documents required by the regulatory authorities to lift the cease
trade order.

Mindready's Board is pleased that Mr. Mayer and Moreau have accepted to
lead Mindready. In the short term, the Board and the new management's focus is
a return to normalcy by ensuring the lifting of the cease trade order. The
Board trusts the company's new senior management team's ability to ensure that
best efforts are made to restore shareholder confidence in the company's
financial reporting and satisfy relevant regulatory authorities.
"I am confident to take on this leadership position with the knowledge
that I can count on the capability, efficiency and commitment of the new
management team and of our first-class employees", declared Jean Mayer,
President of Mindready. "We intend to work closely with our external auditors
to bring our financial reporting back on track. At the same time, we are
adjusting our organizational structure, human resources and operating expenses
to current conditions while maintaining our sales, innovation and product
delivery capacity. This fall, the new leadership team will review the
company's business plan with the Board to reset the course for the future."

Mindready Solutions Inc. (TSX: MNY) is a leading supplier of innovative
solutions for test and embedded systems serving the aerospace & defence,
automotive & transportation and telecommunications markets from design to
manufacturing. More information about Mindready and its products, systems and
engineering services can be found at www.mindready.com.

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