Magnifoam Announces New Aerospace Orders

Business Wire, Sept 30, 2004

MISSISSAUGA, Ontario -- Magnifoam Technology International Inc. (MTII) is pleased to acknowledge the receipt of two new regional jet orders to supply interior thermal and acoustical insulation to Air Canada that could exceed $14,000,000.

Air Canada

Air Canada has signed a contract with Bombardier Aerospace for the sale of a possible 90 CRJ aircraft. The 30 firm aircraft order breakdown is as follows: 15 CRJ 700 Series 705 and 15 CRJ 200 along with an additional 15 conditional orders for CRJ 200. The remaining 45 aircraft are future options. Total value for this contract for Magnifoam, based on firm orders and options to purchase additional aircraft, exceeds $7,000,000.

In a subsequent release, Air Canada also announced the purchase of 45 additional EMBRAER ERJ 190 aircraft. The order offers the options to purchase 45 additional EMBRAER ERJ190 aircraft at a future date. Total value for this contract based on firm orders and options exceeds $7,000,000.

About Magnifoam

Magnifoam Technology International Inc. (MTII) designs, develops and manufactures custom-engineered products using silicone and other cellular materials. The company serves a variety of specialty niche markets and has three core businesses: Silicone, Aerospace and Fabricated Products. MTII's manufacturing divisions develop and produce silicone foam using patented technology, and design and fabricate energy management systems from a variety of flexible, cellular materials. Through its fully-owned subsidiary Leewood Elastomer GmbH, MTII produces and distributes specialty silicone elastomer products. MTII sells its products primarily in the aerospace and mass transit markets. Secondary product categories include the automotive, sporting goods, industrial, institutional, medical and electronic markets. The company's head office and two Canadian manufacturing operations are located in Mississauga, Ontario. International operations include a U.S. research and development, manufacturing and sales facility located in Richmond, Virginia. MTI Groendyk, located in Buchanan, Virginia, and MTI Leewood, located in Bremen, Germany, both operate full manufacturing, distribution and sales divisions. A sales office for the Scandinavian market is located in Stockholm and a sales office for the U.K. market is located in Preston, England.

Magnifoam Technology International Inc. (TSX:MTI)