Venga Aerospace Systems Inc.
PINK SHEETS : VNGAF
TSX VENTURE : VAV

Venga Aerospace Systems Inc.

December 19, 2006 09:49 ET

Venga Closes Final Tranche of Private Placement

TORONTO, ONTARIO--(CCNMatthews - Dec. 19, 2006) - Venga Aerospace Systems Inc. ("Venga")(TSX VENTURE:VAV)(PINK SHEETS:VNGAF) is pleased to announce that the Company has now completed the third and final tranche of its non-brokered $600,000.00 USD private placement first announced on November 14, 2006 through the issuance of 3,004,290 common shares priced at $0.05 for gross proceeds of $135,000.00 USD. The securities issued pursuant to this final tranche of the private placement have a four-month re-sale restriction expiring on April 19, 2007. The Company will use the proceeds of this final tranche as further payment of Venga's agreed upon capital contribution to the Company's new, 3DP North America Joint Venture.

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that may cause the Company's results to differ materially from expectations and speak only as of the date hereof.

SHARES ISSUED: 201,184,633

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

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