Gendis Inc. Announces First Quarter Results

Market Wire, June, 2007

Gendis Inc. (TSX: GDS) today announced its financial results for the 1st quarter ended April 30, 2007 of the fiscal year ending January 31, 2008.

Revenue for the 1st quarter was $381,000 compared to $494,000 last year. The net loss for the 1st quarter was $781,000 ($0.05 per share) compared to a net loss of $219,000 ($0.01 per share) last year.

The decline in revenue and earnings in the quarter is primarily attributable to the Company's investment in Thunder Energy Trust. In the quarter, the Company recorded its share of a loss from investment revenue of $190,000 and recorded an investment asset impairment charge of $328,000. Thunder has been affected by several events over the past year including weak natural gas prices and the pending "Tax Fairness Plan" by the Federal Government of Canada. Consequently, Thunder management initiated a strategic review early in 2007 in order to minimize erosion of unitholder value. On April 24, 2007, a Plan of Arrangement was announced where Thunder unitholders will be bought out at $4.00 per unit providing $2.0 -million of cash to Gendis. The Plan of Arrangement is set to close June 22, 2007.

Effective with the beginning of the current year, the Company adopted the mandatory new standards for the accounting and presentation of "Financial Instruments" and "Comprehensive Income" on a prospective basis in accordance with required transitional provisions.