IR&D Partnerships: A Clear Success at Premier Tech

Market Wire, October, 2008

Premier Tech is proud to announce that today it has paid C$1 089 280.00 in royalties to its financial partners as a repayment of the money advanced to support its Innovation, Research and Development (IR&D) activities within the framework of the MOBILISATEUR programs.

It is in such a risk sharing approach that Premier Tech and its partners of the Government of Canada and of the Government of Quebec invest in innovation programs aiming at ensuring the Company's long-term positioning and competitiveness.

Based on the success of the IR&D programs, combined reimbursements for MOBILISATEUR I and II have now reached over C$8 million. Let us recall that these two IR&D initiatives have had a considerable impact on the company's results, allowing Premier Tech to introduce close to 150 products.

IR&D activities are at the very heart of Premier Tech's positioning and future. In fact, IR&D is intrinsic to the entire organization. The importance attributed to this aspect explains the company's technological leadership within its various business units.

Corporate Profile

For 85 years now, Premier Tech has been building its know-how and reputation on the various technology-oriented opportunities offered by sphagnum peat moss, an abundant natural resource in Canada. Its seven business units, gathered in three groups - Horticulture and Agriculture, Industrial Equipment and Environmental Technologies - have the mission to become technological and commercial leaders in their respective fields of expertise. Buoyed by a multidisciplinary team of over 1 600 people located in America, Europe and Asia, Premier Tech is building on the development of its personnel, on innovation, research and development, and on the introduction of value-added products. Its strategic approach is supported by ongoing worldwide market development efforts.

Contacts: Premier Tech Ms. Lynn Maurais Corporate Office Director 418-867-8883, extension 6336 418-862-6642 (FAX) maul@premiertech.com