TORONTO, ONTARIO – Monteco Ltd.’s group of companies continues to expand with the
creation of Imtex Corporation– a new division that will commercialize membrane
technology for industrial applications.

“Membranes offer distinct advantages over existing separation technologies,” said Dr.
Darren Lawless, Monteco’s Director of Research and Development. “With long life spans,
minimal chemical treatment and low labor and maintenance costs, our technology will
allow industries to meet stricter environmental regulations.”

For its first product, imtex plans to launch a membrane technology with applications in the
petrochemical industry.

Working with Dr. Xianshe Feng, an Associate Professor of Chemical Engineering at the
University of Waterloo, the process will be geared towards difficult multi-chemical
separation and purification.

“Current separation processes are costly, energy intensive and environmentally harmful,”
said Dr. Feng. “Working with Monteco, we hope to develop membrane technology that is
both affordable and extremely versatile and robust.”

“And that’s just the beginning,” added Lawless. “This new company will bring forward
advanced membrane technologies for a variety of applications.”

With growing markets and industries such as wastewater treatment and food and
beverage processing, the North American membrane market is expected to increase 8.4%
annually to $2.7 billion by 2008.

“Building on Imbrium System’s Stormceptor, and Green Turtle’s Proceptor, component
separation is certainly one of Monteco’s strengths,” said Monteco CEO Scott Monteith. “The
creation of Imtex Corp. offers tremendous potential