Firan Technology Group Corporation (FTG) Receives Follow on Award in Support of the U.S. Army's Ground Based Mobile Radar System

• Press Release
• Source: Firan Technology Group Corporation
• On Tuesday December 2, 2008, 4:36 pm EST

TORONTO, ONTARIO--(MARKET WIRE)--Dec 2, 2008 -- FTG (Toronto:FTG.TO - News) announced today that it has received a follow on award for printed circuit boards for a ground based mobile radar system. The award is valued at approximately $725,000 USD for FTG and is deliverable over a 6 month period. The circuit boards will be primarily built at FTG Circuits - Chatsworth although FTG Circuits - Toronto has also been qualified to build this product. These RF circuits utilize the technology acquired from Filtran Microcircuits at the beginning of the year.

"We are very pleased with this award as it is the direct result of our acquisition of the assets and technologies of Filtran Microcircuits and the strong, mutually beneficial relationship we established with their customers' as a result", commented Brad Bourne, President and CEO, FTG Corporation. He added, "FTG has targeted RF circuit boards as a key technology investment for 2008 and we are on track to achieve over $3M in new revenue as a result of the Filtran acquisition and follow-on investments."

This recent award continues to demonstrate FTG's focus in the defense and aerospace sector by providing high reliability, highly technical printed circuits to the industry innovators and leaders.

Targeted reinvestment in emerging printed circuit board technologies and a dedicated team driven to offer high reliability manufacturing solutions, continues to broaden FTG's reach into the highly competitive aerospace and defense marketplace.

ABOUT FIRAN TECHNOLOGY GROUP CORPORATION

FTG is an aerospace and defense electronics product and subsystem supplier to the North American marketplace. FTG has two operating units:

FTG Circuits is a manufacturer of high technology/high reliability printed circuit boards. Our customers are leaders in the aviation, defense, and high technology industries. FTG Circuits has operations in Toronto, Ontario and Chatsworth, California.

FTG Aerospace manufactures illuminated cockpit panels, keyboards and sub-assemblies for original equipment manufacturers of avionics products as well as airframe manufacturers located in Toronto, Ontario.

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

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation's industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

Additional information can be found at the Corporation's website www.ftgcorp.com.

     Contacts:
     Firan Technology Group Corporation
     Bradley C. Bourne
     President and CEO
     (416) 299-4000 x314
     Email: bradbourne@ftgcorp.com
      
     Firan Technology Group Corporation
     Joseph R. Ricci
     Vice President and CFO
     (416) 299-4000 x309
     Email: joericci@ftgcorp.com
     Website: http://www.ftgcorp.com