Pan Terra Industries Inc.
TSX VENTURE : PNT

Pan Terra Industries Inc.

November 29, 2006 18:23 ET

Pan Terra 2nd Quarter Results

CALGARY, ALBERTA--(CCNMatthews - Nov. 29, 2006) - Pan Terra Industries Inc. (TSX VENTURE:PNT) announces it has filed its 2nd Quarter 2007 financial results for the three months ended September 30, 2006.

The Company is reporting a net loss of $186,594 or $0.01 per share for the three months ending September 30, 2006 compared to a profit of $335,400 or $0.02 per share for the three months ending September 30, 2005. For the six months ended September 30, 2006 the Company is reporting a net income of $930,107 or $0.04 per share compared to a net income of $58,227 or $0.00 per share for the period ending September 30, 2005.

The Bluebird-Trotter-Morton Joint Venture Ltd. industry partnership announced in April 2006 has changed the way in which the Company's financials are reported. This is largely due to the accounting treatment as a net profits arrangement where Pan Terra recognizes its profit on industry-partnered projects.

Revenue for the three months ended September 30, 2006 was $3.5 million compared to $10.4 million for the three months ended September 30, 2005. The revenue for the six months ended September 30, 2006 was $9.4 million compared to $19.3 million for the six months ended September 30, 2005.

Virtually all projects are being managed through the industry partnership. Under the partnership the Company has created a strong economic and financial dependency upon Bluebird-Trotter-Morton Joint Venture Ltd. The success of this industry partnership led management to announce on November 10, 2006 that it is seeking shareholder approval at the December 15, 2006 AGM and Special Shareholders Meeting to sell the Bluebird Division construction related assets to Trotter and Morton. The Board of Directors has also approved the termination of the Company's Employee Share Purchase Plan. Pan Terra is exploring other opportunities as a public company possibly in the energy or resources sector.

About Pan Terra

Pan Terra is currently an innovative construction solutions contractor that develops new sites and redevelops existing sites to the point where an owner, developer, or general contractor can proceed with building construction. The focus of the Company is site preparation and underground utility installations and rehabilitation. The Company offers packaged services in industrial, commercial, retail and residential markets. Pan Terra's major clients include leading general contractors, owners and developers. The Company has extensive relationships with architects, engineers, and consultants. Pan Terra's growth plan includes: acquisition of successful companies, leveraging of environmental and trenchless technology solutions and total dedication to exceptional operational performance and achievement.

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

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