Pacific Safety Products Inc.
TSX VENTURE : PSP

Pacific Safety Products Inc.

November 23, 2006 15:32 ET

Pacific Safety Products Inc. Announces Re-Election of Directors and Stock Option Grant

KELOWNA, BRITISH COLUMBIA--(CCNMatthews - Nov. 23, 2006) - Pacific Safety Products Inc. (TSX VENTURE:PSP) held its Annual General Meeting on November 22, 2006 at which all seven Board members were re-elected. Mr. David Scott, Mr. Brad Field, Mr. Mel Cooper, Mr. Ross Langford, Mr. John Brodie, Mr. James Juntilla and the Honourable Roy McLaren were elected by acclamation for a further one-year period.

"I am very pleased that our Board members have chosen to continue serving PSP for another year," comments David Scott, CEO. "We have an exceptional group of individuals who will continue to provide strong leadership and guidance to management and ensure that the Company is governed to the highest independent standards."

In conjunction with their re-election and the Board Compensation Plan, Mr. Cooper, Mr. Langford, Mr. MacLaren, Mr. Brodie, Mr. Field and Mr. Juntilla were issued 15,000 stock options effective November 22, 2006 at an exercise price of $1.01, being the average closing price of the shares traded over the previous 20 trading days prior to the grant date.

OVERVIEW OF THE BUSINESS

The mission statement of Pacific Safety Products Inc. is ...we bring everyday heroes home safely™. PSP is an established industry leader in the development, production and distribution and sale of high-performance and high-quality protective products for the defence and security market. These products include body armor to protect against ballistic, stab and fragmentation threats, ballistic blankets to reduce blast effects and protective products against chemical and biological hazards. PSP is the largest armour manufacturer in Canada and supplies its products to the Canadian Department of National Defence, federal government agencies and major law enforcement organizations across the country. The Company, through its subsidiary, Sentry Armor Systems Inc., provides body armour products to U.S. based law enforcement and private security firms.

The Company provides quality protection solutions by effectively integrating the latest technologies to serve our customers' needs. Founded in 1984, PSP has grown to include more than 280 employees at our Canadian and U.S. facilities. These facilities are equipped with complete design, production and research capabilities.

Pacific Safety Products is a reporting issuer in British Columbia, Alberta and Ontario, Canada and publicly trades under the symbol PSP on the TSX Venture Exchange.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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