Montec Holdings Inc.

Montec Holdings Inc.

October 31, 2006 08:00 ET

Montec Holdings Inc. Update: Qualifying Transaction to be Completed by January 26, 2007

MONTREAL, QUEBEC--(CCNMatthews - Oct. 31, 2006) - Montec Holdings Inc., a capital pool company listed on the TSX Venture Exchange (TSX VENTURE:MTE.P), today announced that the TSX Venture Exchange has given Montec until January 26, 2007 to complete its Qualifying Transaction (QT) with Datex Billing Services Inc. of Mississauga, Ontario. As previously announced, Montec submitted its Filing Statement in connection with the QT to the TSX Venture Exchange on October 19, 2006. Montec is very confident that it will complete its QT prior to this deadline.

Pending the completion of the QT, the common shares of Montec have been suspended. It is expected that trading in Montec's common shares will resume immediately following the close of the QT, subject to obtaining the approval of the TSX Venture Exchange.

About Montec Holdings

Montec Holdings Inc. is an innovative Capital Pool Company ("CPC"), listed on the TSX Venture Exchange (TSX-V:MTE.P). Montec's objective is to create shareholder value by building a profitable technology entity with high-growth potential. Structured as a holding company, it will acquire and develop a diversified portfolio of high-growth technology companies.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains certain forward-looking statements that reflect the current views and/or expectations of Montec Holdings Inc. with respect to performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. Investors are cautioned not to rely on these forward-looking statements. Montec Holdings Inc. does not undertake to update these forward-looking statements.

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