ExelTech announces resignation of Sylvain Duval and suspension of disclosure
of financial results

MONTREAL, Feb. 22 /CNW Telbec/ - ExelTech Aerospace Inc. (TSX Venture: XLT), announced today that Sylvain Duval has resigned as President and Chief Executive Officer of ExelTech, with effect as of February 26, 2010. Mr. Duval will remain a director of the Corporation. The day to day affairs of the Corporation will continue to be managed by senior management currently in place with the guidance of the Board of Directors of the Corporation, and under the supervision of RSM Richter Inc., in its capacity as interim receiver of the assets of ExelTech Canada Inc.

The Corporation also announced today that it will not be preparing or filing its financial statements for the quarter ended December 31, 2009 or any subsequent period, until further notice.

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.

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For further information: Gerard Moretti, Chief Financial Officer, [phone], ext. 2406, [email protected]