ExelTech announces its bankruptcy

MONTREAL, May 28 /CNW Telbec/ - ExelTech Aerospace Inc. (TSX Venture: XLT) announced today that it and its subsidiaries, ExelTech Canada Inc. and ExelTech YUL Inc., have not sought a further extension of the period in which to file a proposal under the Bankruptcy and Insolvency Act (Canada), which expires today. As a consequence, ExelTech Aerospace Inc., ExelTech Canada Inc. and ExelTech YUL Inc. will each be deemed to have filed assignments in bankruptcy. In light of the foregoing, the directors of ExelTech Aerospace have resigned.

RSM Richter Inc. is the trustee in bankruptcy.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

%SEDAR: 00020968EF

For further information: Stéphane DeBroux, CA, RSM Richter Inc., [phone], [email protected]