Prima Developments Ltd.

Prima Developments Ltd.

November 07, 2005 09:30 ET

Prima Announces 2000% Profit Increase

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 7, 2005) - Prima Developments Ltd. (TSX VENTURE:PID)(FWB:PDV) reports Final Fiscal 2005 quarterly profit up 2000% over same quarter in 2004. Gross sales for the 3 month period ending June 30, 2005 were $566,427 compared to $502,630 for the corresponding period in 2004. Also, management has achieved benefits from its cost cutting efforts. As a result of the combination of higher sales and lower costs, the Company generated a net profit of $124,854 for the quarter ending June 30, 2005, up from $6,055 for the corresponding quarter in 2004.

Roland Langset reports these results are considered very positive by management and reinforce the projections of a profitable up-coming 2006 year.

Management reports a number of major projects have sole specified the Ceramic Insulcoat products for the upcoming year and is also completing a number of joint venture manufacturing and marketing agreements, soon to be announced.

About Prima

Prima Developments, a developer of Envirosmart Building Products and Systems, through its wholly-owned subsidiary Envirocoat Technologies Inc. (ETI), is a global owner, producer and distributor of the high performance Ceramic InsulCoat R:E Paint & Coatings Systems. Envirocoatings markets its proprietary Ceramic InsulCoat product line through ICI Glidden, one of the largest paint and coatings companies with sales in over 50 countries globally. This system is a high quality, long lasting surface finish, which adds a thermal enhancement to all substrates thereby saving energy in addition to protecting and beautifying. ETI is a leader in the development of ceramic filled paints and coatings and has been manufacturing since 1960.

On behalf of the Board,

Roland Langset, President

This press release may include forward-looking statements; including statements relating to the Company's manufacturing capability, marketing strategy, future sales growth, profitability and competitive position. The words "plan", "expect", "believe", "intend", "anticipate", "forecast", "target", "estimate", and similar expressions identify forward-looking statements. Forward-looking statements are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. The Company does not undertake to review or update these forward-looking statements.

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

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