Mindready Solutions appoints new President and CEO

MONTREAL, Aug. 9 /CNW Telbec/ - Mindready Solutions Inc. (TSX: MNY) announces the appointment of Jean Mayer as President and Christian Moreau as CEO, effective immediately. Mr. Mayer has also been appointed to the Board of Directors. Mr. Mayer and Moreau were the company's General Counsel and Vice President, Operations, respectively. The company also announces the appointment of Vladimir Ivanov, who recently joined Mindready, as Vice President, Finance. Mr. Marc Lamy, who occupied the position of President, CEO and CFO, has resigned and left the company.

Mindready Solutions, currently subject to a cease trade order until it files its audited annual consolidated financial statements, its annual MD&A and its annual information form for the year ended December 31, 2006, as well as its interim consolidated financial statements that will be due on the filing date, also announces that its external auditors will resume their work in the near future to complete the audit of the company's 2006 consolidated financials statements in order for the company to file the continuous disclosure documents required by the regulatory authorities to lift the cease trade order.

Mindready's Board is pleased that Mr. Mayer and Moreau have accepted to lead Mindready. In the short term, the Board and the new management's focus is a return to normalcy by ensuring the lifting of the cease trade order. The Board trusts the company's new senior management team's ability to ensure that best efforts are made to restore shareholder confidence in the company's financial reporting and satisfy relevant regulatory authorities.

"I am confident to take on this leadership position with the knowledge that I can count on the capability, efficiency and commitment of the new management team and of our first-class employees", declared Jean Mayer, President of Mindready. "We intend to work closely with our external auditors to bring our financial reporting back on track. At the same time, we are adjusting our organizational structure, human resources and operating expenses to current conditions while maintaining our sales, innovation and product delivery capacity. This fall, the new leadership team will review the company's business plan with the Board to reset the course for the future."

Mindready Solutions Inc. (TSX: MNY) is a leading supplier of innovative solutions for test and embedded systems serving the aerospace & defence, automotive & transportation and telecommunications markets from design to manufacturing. More information about Mindready and its products, systems and engineering services can be found at www.mindready.com.