AimGlobal Technologies Sees Fourth Quarter Below Expectations

- Revenue in the range of $165 million expected for year ended March 31,

2001

- Company comments on fraudulent press release on Internet message board



AMEX and TSE: AGT



Apr 23, 2001, 01:00 ET from AimGlobal Technologies Company Inc.

    TORONTO, April 23 /PRNewswire/ - AimGlobal Technologies Company Inc.
 (AMEX, TSE: AGT) today announced that its results for the fourth quarter and
 year ending March 31, 2001 are anticipated to be slightly below the Company's
 previously stated expectations. The Company now expects year end revenues in
 the range of $165 million, as compared to previous revenue estimates of $169
 million.
     "The US economic downturn has had a greater effect on our revenues, cash
 flow and earnings than previously expected. At the end of the quarter, we were
 still experiencing order pushouts as our customers reassessed their spending
 given the continuing uncertainty in the high technology markets," stated Mr.
 Steve deJaray, Chairman and CEO. "We have committed to the highest level of
 service to our customers and remain flexible in accommodating their changing
 needs. We have not experienced any order cancellations and fully expect that
 with an improving economy, customer order schedules should improve."
     In the interim, the Company has streamlined its workforce and has frozen
 capital spending to reflect current reduced requirements. Implementation of
 the JD Edwards enterprise resource planning (ERP) system continues, with four
 of the five facilities now operational on the system and the fifth facility
 scheduled for live implementation shortly. The benefit of cost reductions
 related to the ERP implementation are expected to have an effect into the
 first and second quarters of fiscal year 2002.
     "Due to the lack of visibility into the impact of current market
 conditions on growth in calendar 2001, at this time we cannot provide
 meaningful guidance for the Company's financial outlook for our fiscal year
 2002," said Mr. deJaray.
     The Company has been made aware of a message on the Internet in the form
 of a press release attributed to the Company, fraudulently and falsely
 purporting to provide guidance for fiscal year 2002. Neither the Company nor
 its representatives participate in such message boards and, upon learning of
 this false press, has had the fraudulent message removed and has initiated a
 full criminal investigation with the appropriate authorities, including the
 American and Toronto stock exchanges.
     Mr. deJaray wishes to remind investors that the only authorized, reliable
 sources of information about AimGlobal Technologies are the stock exchanges on
 which it is listed, the applicable securities commissions, and the Company
 itself through its website, www.aimglobaltech.com, and its official
 representatives. Securities authorities have laid down harsh penalties for
 individuals convicted of committing fraud.
 
     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.
 
     About AimGlobal Technologies Company Inc.
 
     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 23 /PRNewswire/ - AimGlobal Technologies Company Inc.
 (AMEX, TSE: AGT) today announced that its results for the fourth quarter and
 year ending March 31, 2001 are anticipated to be slightly below the Company's
 previously stated expectations. The Company now expects year end revenues in
 the range of $165 million, as compared to previous revenue estimates of $169
 million.
     "The US economic downturn has had a greater effect on our revenues, cash
 flow and earnings than previously expected. At the end of the quarter, we were
 still experiencing order pushouts as our customers reassessed their spending
 given the continuing uncertainty in the high technology markets," stated Mr.
 Steve deJaray, Chairman and CEO. "We have committed to the highest level of
 service to our customers and remain flexible in accommodating their changing
 needs. We have not experienced any order cancellations and fully expect that
 with an improving economy, customer order schedules should improve."
     In the interim, the Company has streamlined its workforce and has frozen
 capital spending to reflect current reduced requirements. Implementation of
 the JD Edwards enterprise resource planning (ERP) system continues, with four
 of the five facilities now operational on the system and the fifth facility
 scheduled for live implementation shortly. The benefit of cost reductions
 related to the ERP implementation are expected to have an effect into the
 first and second quarters of fiscal year 2002.
     "Due to the lack of visibility into the impact of current market
 conditions on growth in calendar 2001, at this time we cannot provide
 meaningful guidance for the Company's financial outlook for our fiscal year
 2002," said Mr. deJaray.
     The Company has been made aware of a message on the Internet in the form
 of a press release attributed to the Company, fraudulently and falsely
 purporting to provide guidance for fiscal year 2002. Neither the Company nor
 its representatives participate in such message boards and, upon learning of
 this false press, has had the fraudulent message removed and has initiated a
 full criminal investigation with the appropriate authorities, including the
 American and Toronto stock exchanges.
     Mr. deJaray wishes to remind investors that the only authorized, reliable
 sources of information about AimGlobal Technologies are the stock exchanges on
 which it is listed, the applicable securities commissions, and the Company
 itself through its website, www.aimglobaltech.com, and its official
 representatives. Securities authorities have laid down harsh penalties for
 individuals convicted of committing fraud.
 
     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.
 
     About AimGlobal Technologies Company Inc.
 
     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.