AimGlobal Technologies Responds to National Post Article

- Inaccuracies corrected; Chairman and CEO shares positive outlook

for current year

- Company announces private placement in anticipation of growth



Apr 29, 2001, 01:00 ET from AimGlobal Technologies Company Inc.

    TORONTO, April 29 /PRNewswire/ - AimGlobal Technologies Company Inc.
 (AMEX, TSE: AGT) today addressed queries relating to a misleading article
 published in last week's National Post. In one instance, the Post gravely
 misquoted Mr. Jeff Rath, an analyst with Canaccord Capital, and in another
 relied on inaccurate information about the Company provided by Mr. Pierre-Yves
 Terrisse of Yorkton Securities. The day the article ran, the National Post
 contacted Mr. Steve deJaray, Chairman and CEO of AimGlobal Technologies, with
 an apology for failing to contact the Company to verify information prior to
 printing the article. The Post also apologized directly to Mr. Rath for its
 quoting error, and printed the Company's response in its weekend edition.
     "It is very unfortunate that this past week has brought some undeserved
 negative attention to AimGlobal Technologies," said Mr. deJaray. "We are
 grateful that the National Post apologized for the inaccuracies in the
 article; however, considering the negative tone of the article, I would like
 to take this opportunity to correct this perception and to share with our
 customers, employees and investors our positive outlook for the current year.
     "Contrary to the article, the Company is not in a financial crunch. For
 years we have been and we remain on the best of terms with our bankers. We are
 proud of the success of our business model, and are working to evolve it as
 our business continues to grow. While this past quarter came in below
 expectations, I am certain that shareholders appreciate our business focus. We
 do not depend on the production of high-volume, commodity products like many
 of the larger EMS providers; rather, we produce mid-volume, highly technical
 non-consumer microelectronics products. When serving our specialized market
 involves a pushout or delay in order schedules, we readily try to accommodate
 our customers' needs. The close relationship we forge with our customers and
 strategic partners is our strength and ultimately what keeps our customers
 satisfied - it is the foundation of our past and future success.
     "In our most recent news release, we refrained from providing revenue
 guidance for fiscal 2002, as we did not and still do not deem it responsible
 to do so, given the current lack of visibility into our markets and our
 continuing commitment to remain flexible to our customers' needs. We are well
 aware of our previous mistakes in enthusiastically publishing and then falling
 short of our own very high targets. Those mistakes have overshadowed our
 impressive 57% revenue growth over the past year and remarkable 62% compound
 annual growth over the past three years. We have every expectation of
 continuing our trend of revenue growth, and look forward to providing specific
 revenue and profit targets with the return of economic stability. We strongly
 feel that Mr. Terrisse and Yorkton Securities are acting irresponsibly, with
 self-interest, and are demonstrating extremely poor judgement in predicting a
 dramatic revenue decline for the current year, especially in the face of our
 strong historical performance and our confidence in continued significant
 growth.
     "Our shareholders will appreciate that we are a mere 36 months into our
 business plan, and in that time we have grown from revenues of $37 million to
 expected revenue of $165 million in the fiscal year ending March 31, 2001. We
 are building on strong relationships with over 120 customers in areas as
 diverse as medical instrumentation, aerospace hardware and telecommunications
 infrastructure. The benefits of the diversity of our customer list can be
 likened to the stability of a well-balanced investment portfolio having
 interest in many business sectors. In 36 months, we have built our
 manufacturing infrastructure with the capacity to support revenue of some $450
 million and there is every indication - outstanding employee base, cutting-
 edge manufacturing technologies and facilities, excellent customer
 relationships - that we are heading successfully in that direction."
     The Company has for some time been in the planning stages of, and today
 announced, a brokered private placement to management and institutions of a
 maximum $12 million at $2.31 per unit. Each unit consists of one common share
 and one common share purchase warrant entitling the holder to purchase one
 additional common share at a purchase price of $2.75 per share for the maximum
 term of the warrant. The proceeds of the private placement will be used for
 general working capital in anticipation of growth. The private placement
 involves hold period restrictions and is subject to regulatory approval. "This
 private placement is not in any way connected to or relief from any current
 short security positions in the Company," stated Mr. deJaray. "Yorkton
 Securities is not involved in this private placement and does not maintain any
 fiscal relationship with the Company."
 
     About Aimtronics Corporation
 
     Aimtronics Corporation, a wholly owned subsidiary of AimGlobal
 Technologies Company Inc., offers a complete range of Electronics
 Manufacturing Solutions and is a leading technical provider of services in the
 microelectronics industry. Aimtronics' supply chain management solutions offer
 design assistance - reducing time-to-market metrics, time-to-volume metrics,
 full product testing, packaging, warranty service, and end-of-life support.
 Aimtronics' microelectronics technology centre provides proprietary thick film
 hybrid design and assembly including chip-on-board, multi-chip module, and
 flip-chip technologies.
     Through five facilities located across the continent, Aimtronics serves
 the high technology markets throughout North America.
     Founded 14 years ago, and through its operating subsidiary, AimGlobal
 Technologies serves the medical, aerospace, wireless, telecommunications,
 industrial, military and emergency services markets. With operations in New
 York State, Ontario and British Columbia, AimGlobal Technologies is a
 recognized technical innovator and a leading provider of proprietary
 microelectronics manufacturing solutions.
 
     Safe Harbor Statement
     Certain information in this press release contains "forward looking
 statements" within the meaning of the Securities Exchange Act of 1934,
 including those concerning the Company's future results and strategy. Actual
 results could differ from those in the forward looking statements due to a
 number of uncertainties, including, but not limited to, the demand for the
 Company's products and services; the size, timing and recognition of revenue
 from significant orders; increased competition, changes in Company strategy;
 product life cycles; the impact of rapid technological advances, evolving
 industry standards, changes in customer requirements, and fluctuations in
 foreign exchange rates.
     The Company's expense levels are based, in part, on its expectations as
 to future revenue and a significant portion of the Company's expenses do not
 vary with revenue. As a result, if revenue is below expectations, results of
 operations are likely to be materially adversely affected.
 
 
 

SOURCE AimGlobal Technologies Company Inc.
    TORONTO, April 29 /PRNewswire/ - AimGlobal Technologies Company Inc.
 (AMEX, TSE: AGT) today addressed queries relating to a misleading article
 published in last week's National Post. In one instance, the Post gravely
 misquoted Mr. Jeff Rath, an analyst with Canaccord Capital, and in another
 relied on inaccurate information about the Company provided by Mr. Pierre-Yves
 Terrisse of Yorkton Securities. The day the article ran, the National Post
 contacted Mr. Steve deJaray, Chairman and CEO of AimGlobal Technologies, with
 an apology for failing to contact the Company to verify information prior to
 printing the article. The Post also apologized directly to Mr. Rath for its
 quoting error, and printed the Company's response in its weekend edition.
     "It is very unfortunate that this past week has brought some undeserved
 negative attention to AimGlobal Technologies," said Mr. deJaray. "We are
 grateful that the National Post apologized for the inaccuracies in the
 article; however, considering the negative tone of the article, I would like
 to take this opportunity to correct this perception and to share with our
 customers, employees and investors our positive outlook for the current year.
     "Contrary to the article, the Company is not in a financial crunch. For
 years we have been and we remain on the best of terms with our bankers. We are
 proud of the success of our business model, and are working to evolve it as
 our business continues to grow. While this past quarter came in below
 expectations, I am certain that shareholders appreciate our business focus. We
 do not depend on the production of high-volume, commodity products like many
 of the larger EMS providers; rather, we produce mid-volume, highly technical
 non-consumer microelectronics products. When serving our specialized market
 involves a pushout or delay in order schedules, we readily try to accommodate
 our customers' needs. The close relationship we forge with our customers and
 strategic partners is our strength and ultimately what keeps our customers
 satisfied - it is the foundation of our past and future success.
     "In our most recent news release, we refrained from providing revenue
 guidance for fiscal 2002, as we did not and still do not deem it responsible
 to do so, given the current lack of visibility into our markets and our
 continuing commitment to remain flexible to our customers' needs. We are well
 aware of our previous mistakes in enthusiastically publishing and then falling
 short of our own very high targets. Those mistakes have overshadowed our
 impressive 57% revenue growth over the past year and remarkable 62% compound
 annual growth over the past three years. We have every expectation of
 continuing our trend of revenue growth, and look forward to providing specific
 revenue and profit targets with the return of economic stability. We strongly
 feel that Mr. Terrisse and Yorkton Securities are acting irresponsibly, with
 self-interest, and are demonstrating extremely poor judgement in predicting a
 dramatic revenue decline for the current year, especially in the face of our
 strong historical performance and our confidence in continued significant
 growth.
     "Our shareholders will appreciate that we are a mere 36 months into our
 business plan, and in that time we have grown from revenues of $37 million to
 expected revenue of $165 million in the fiscal year ending March 31, 2001. We
 are building on strong relationships with over 120 customers in areas as
 diverse as medical instrumentation, aerospace hardware and telecommunications
 infrastructure. The benefits of the diversity of our customer list can be
 likened to the stability of a well-balanced investment portfolio having
 interest in many business sectors. In 36 months, we have built our
 manufacturing infrastructure with the capacity to support revenue of some $450
 million and there is every indication - outstanding employee base, cutting-
 edge manufacturing technologies and facilities, excellent customer
 relationships - that we are heading successfully in that direction."
     The Company has for some time been in the planning stages of, and today
 announced, a brokered private placement to management and institutions of a
 maximum $12 million at $2.31 per unit. Each unit consists of one common share
 and one common share purchase warrant entitling the holder to purchase one
 additional common share at a purchase price of $2.75 per share for the maximum
 term of the warrant. The proceeds of the private placement will be used for
 general working capital in anticipation of growth. The private placement
 involves hold period restrictions and is subject to regulatory approval. "This
 private placement is not in any way connected to or relief from any current
 short security positions in the Company," stated Mr. deJaray. "Yorkton
 Securities is not involved in this private placement and does not maintain any
 fiscal relationship with the Company."
 
     About Aimtronics Corporation
 
     Aimtronics Corporation, a wholly owned subsidiary of AimGlobal
 Technologies Company Inc., offers a complete range of Electronics
 Manufacturing Solutions and is a leading technical provider of services in the
 microelectronics industry. Aimtronics' supply chain management solutions offer
 design assistance - reducing time-to-market metrics, time-to-volume metrics,
 full product testing, packaging, warranty service, and end-of-life support.
 Aimtronics' microelectronics technology centre provides proprietary thick film
 hybrid design and assembly including chip-on-board, multi-chip module, and
 flip-chip technologies.
     Through five facilities located across the continent, Aimtronics serves
 the high technology markets throughout North America.
     Founded 14 years ago, and through its operating subsidiary, AimGlobal
 Technologies serves the medical, aerospace, wireless, telecommunications,
 industrial, military and emergency services markets. With operations in New
 York State, Ontario and British Columbia, AimGlobal Technologies is a
 recognized technical innovator and a leading provider of proprietary
 microelectronics manufacturing solutions.
 
     Safe Harbor Statement
     Certain information in this press release contains "forward looking
 statements" within the meaning of the Securities Exchange Act of 1934,
 including those concerning the Company's future results and strategy. Actual
 results could differ from those in the forward looking statements due to a
 number of uncertainties, including, but not limited to, the demand for the
 Company's products and services; the size, timing and recognition of revenue
 from significant orders; increased competition, changes in Company strategy;
 product life cycles; the impact of rapid technological advances, evolving
 industry standards, changes in customer requirements, and fluctuations in
 foreign exchange rates.
     The Company's expense levels are based, in part, on its expectations as
 to future revenue and a significant portion of the Company's expenses do not
 vary with revenue. As a result, if revenue is below expectations, results of
 operations are likely to be materially adversely affected.
 
 
 SOURCE AimGlobal Technologies Company Inc.