Tactex Controls Inc.
TSX VENTURE : TTX

Tactex Controls Inc.

September 17, 2008 13:08 ET

Tactex Bond Payments Deferred by Nitta Corporation

VICTORIA, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2008) - Tactex Controls Inc. (TSX VENTURE:TTX) is pleased to announce that Nitta Corporation of Japan has agreed to defer payments on a Secured Convertible Bond. Tactex issued the bond, worth 120,000,000 Japanese Yen or approximately $1.2 million CAD, to Nitta in 2006. Principal was to be repaid beginning in 2008. Under the terms of the new agreement, Nitta has deferred principal payments until June 2010 and interest payments until January 2009.

"Tactex is fortunate to have developed a strong partnership with Nitta - a globally respected manufacturing company. I am very encouraged to see their continued support in times when cash management is such a concern. Short-term relief from these payment obligations will ease our day-to-day operations and allow us to focus on growing our product sales through 2008," said Tactex President & CEO, David Lokhorst.

Nitta Corporation is a publicly traded manufacturing firm based in Japan. The company was established in 1885 and currently develops and manufactures a wide range of industrial and technology products including mechatronic products and sensors. Nitta is the Asian licence holder for Kinotex® sensing technology.

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

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