Montec Holdings Inc.
TSX VENTURE : MTE.P

Montec Holdings Inc.

October 24, 2006 08:27 ET

Montec Holdings Inc. Update

Qualifying Transaction Submitted to the TSX Venture Exchange

MONTREAL, QUEBEC--(CCNMatthews - Oct. 24, 2006) - Montec Holdings Inc., a capital pool company listed on the TSX Venture Exchange (TSX VENTURE:MTE.P), today announced that it has submitted its Filing Statement to the TSX Venture Exchange for consideration and approval of its Qualifying Transaction (QT) with Datex Billing Services Inc. of Mississauga, Ontario.

"We conducted an in-depth due diligence of Datex and its industry segment to ensure that Datex fit into our stated strategy. In conformity with our mission, the search for a credible QT was paramount. We believe our carefully selective acquisition strategy will reduce investor risk and provide faster revenue growth through a diversified portfolio of synergistic companies in the high-tech industry. We have been and are evaluating other potential companies for subsequent acquisitions following the close of the QT with Datex," stated Myer Bentob, Chairman of the Board of Directors and CEO of Montec Holdings Inc.

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

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 acquiring and developing a diversified portfolio of high-growth technology companies. Montec provides the catalyst to enable their subsidiaries to maximize their full potential.

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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