Mr. Bruce Rowlands reports

EUROCONTROL FILES THIRD QUARTER 2014 FINANCIALS

Eurocontrol Technics Group Inc. has filed its second quarter 2014 financial statements and management's discussion and analysis. The third quarter results reflect the fourth continuous quarter of positive cash flow and net losses continue to decline despite revenues being slightly down. The company's balance sheet remains strong with a cash balance in excess of $2.6-million at the end of the quarter. Management anticipates a strong fourth quarter of 2014 consistent with the seasonality of past years.

                              SUMMARIZED FINANCIAL RESULTS                        
                                                                              
                                     Three months ended          Nine months ended 
                                              Sept. 30,                  Sept. 30, 
                                      2014         2013         2014          2013

Revenue                         $1,612,337   $1,530,889   $4,502,508    $4,693,203
Cost of sales
(Cost) of sales -- direct
production (costs)               (621,365)    (695,214)  (1,885,727)   (1,982,834)
(Cost) of sales --
amortization and other
non-cash items                   (113,301)    (261,710)    (339,903)     (846,634)
Gross profit                       877,671      573,965    2,276,878     1,863,735
Expenses                           914,079      758,340    2,348,732     2,448,826
Other expense (income)            (38,358)       95,700      (4,115)         2,058
Income tax expense                   4,029        5,145       16,280        13,923
Net income (loss)                  (2,079)    (285,220)     (84,019)     (601,072)
Basic and fully diluted
(loss)
per share                           (0.00)       (0.00)       (0.00)        (0.00)
EBITDA                             153,600       26,657      402,928       379,277
EBIT (loss)                         26,034    (254,884)        7,013     (514,765)
                            

Bruce Rowlands, chairman and chief executive officer, stated, "We are pleased to report continued quarter over quarter improvement in working capital and EBIT driven primarily by our approach to capital allocation, which continued to show steady improvement across all key product groups through the nine months of 2014."

2014 financial and operating highlights

• Achieved third quarter revenue of $1,612,337;
• Achieved gross margin of 51 per cent;
• Recognized record EBIT of $7,031 compared with negative $514,765 in 2013;
• Working capital increased to $1,706,647 compared with $1,015,751 in Dec. 31, 2013;
• Recognized a net loss $84,019 compared with a loss of $601,072 for the same period in 2013;
• The company is projecting revenue of $6.5-million for fiscal 2014; estimate based on existing fuel marking projects with GFI contributing approximately 74 per cent of overall revenue and this revenue estimate does not take into account possible new fuel marking contract wins that may occur during the remainder of 2014;
• Eurocontrol achieving substantial cost-efficiencies in the first nine months of 2014, especially in terms of working capital and cash operating expenditures.

Outlook

The growth of Eurocontrol through acquisitions and integration of complementary businesses is an important component of the company's business strategy. Eurocontrol continues to seek opportunities to acquire or invest in business, products and technologies to expand, complement or otherwise relate to its business.

We seek Safe Harbor.