Mr. Bradley Bourne reports

FIRAN TECHNOLOGY GROUP (FTG) REACHES AGREEMENT WITH REPRESENTED EMPLOYEES FOR A NEW FOUR YEAR CONTRACT

A new contract with Firan Technology Group Corp.'s represented employees at its aerospace Toronto facility has been negotiated and ratified.

The contract has a four-year term and expires in August, 2027. The contract recognizes the strong demand at that site, the commitment to continuous improvement by everyone, as well as the external environment impacting the corporation and its employees.

With the ratification of this agreement, all employees will return to work immediately, ending a six-week work stoppage. The work stoppage negatively impacted customers, employees and investors. For customers, Firan will work diligently to get its deliveries back on track as quickly as possible, using all the resources it has available at FTG. For employees, Firan knows the work stoppage hurt them financially and the final settlement included a signing bonus to partially mitigate the lost wages. And for investors, the work stoppage will negatively impact Firan's first quarter through reduced revenues of $3-million to $4-million and the corresponding profits. This will be a one-time impact to the company.

"I believe the contract is well balanced with improved wages and benefits for the employees that are the direct result of the commitment by everyone to improve productivity through an ongoing focus on operational excellence," stated Brad Bourne, president and chief executive officer, Firan. He added, "We are seeing strong demand at the Aerospace Toronto site, and we can now focus our efforts to ramp up production to support our customers' needs."

About Firan Technology Group Corp.

Firan Technology Group is an aerospace and defence electronics product and subsystem supplier to customers around the globe. It has two operating units:

• FTG Circuits is a manufacturer of high-technology, high-reliability printed circuit boards. Its customers are leaders in the aviation, defence and high-technology industries. FTG Circuits has operations in Toronto, Ont.; Chatsworth, Calif.; Fredericksburg, Va.; Minnetonka, Minn.; Haverhill, Mass.; and a joint venture in Tianjin, China.
• FTG Aerospace manufactures and repairs illuminated cockpit panels, keyboards and subassemblies for original equipment manufacturers of aerospace and defence equipment. FTG Aerospace has operations in Toronto, Ont.; Chatsworth, Calif.; and Tianjin, China.

The corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG.

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