ETX Systems

Press Release

Date: January 25, 2006

Envision Technologies Corp. creates dedicated entity focused on the ETX Upgrader design

CALGARY, AB – Gerard Monaghan, CEO of ETX Systems is pleased to announce the creation of ETX Systems Inc. The company, a private entity incorporated under the laws of Alberta has the sole mandate to demonstrate and commercialize the ETX Upgrader. Development of the ETX Reactor was carried out under Envision Technologies Corp. In support of the mandate of the new company all tangible and intangible assets associated with the ETX Reactor technology will be transferred to ETX Systems.

"Under Envision Technologies Corp. we pursued a number of business opportunities of which the ETX Reactor was one.", Mr. Monaghan explains. "We were using the company not only to evaluate technologies but also as a vehicle through which to perform consulting activities. To properly execute our business plan we required a legal entity that is focused only on the single ETX Reactor asset."

A private offering is planned to capitalize ETX Systems Inc. The funds will be used to carry out a number of projects critical to achieving the commercialization of the technology. The funds will also be used to set up basic supporting infrastructure.

ETX Systems Inc. is a fit-for-purpose private entity based in Calgary, AB, whose sole mandate is to commercialize its patented IYQ Upgrading technology. The process claims to deliver revolutionary yields and qualities relative to delayed coking, for significantly less cost per barrel. The increased production of high quality liquids leads to reduced environmental impact, leveraged through both the upstream and downstream scope.  For more information contact Gerard Monaghan, CEO of ETX Systems Inc. (gerard.monaghan@etxsystems.com).

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