Cencotech reports results of operations for the nine months ended July 31st, 2005

TORONTO, Sept. 29 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the
results of operations for the first nine months of fiscal 2005 ended
July 31st. All amounts referenced herein are in Canadian dollars.
Revenue for the first nine months of fiscal 2005 was $1,625,703 as
compared to $1,156,743 for the same period last year. The Company recorded net
income of $254,880 or $0.02 per share as compared to a loss of $752,594 or
($0.05) per share in the same period last year. The continued development in
the sales and marketing alliances with others in the large volume currency
handling market, along with well contained operating costs have provided the
foundation for continuing profitability. With this in mind, the Board of
Directors has, subject to regulatory approval, today approved the conversion
of $600,000 in outstanding debt to common shares of the Company at a price of
$0.10 per share. This transaction is scheduled to close with certain selected
suppliers on October 31st, 2005. Concurrently, the convertible debt and
secured debt agreements will be extended to December 31, 2006 and the
conversion rate on the convertible debenture will be adjusted to $0.165 per
share.
To allow minority shareholders to maintain their pro rata interest in the
Company, the Board of Directors has also approved, subject to regulatory
approval, a rights offering for a maximum of 5,000,000 shares at $0.10 per
share. Upon receipt of regulatory approval, the Company plans to issue rights
to all shareholders in November 2005. Two of the creditors of the Company who
are receiving shares for partial repayment of debt, Dynamic Venture
Opportunities Fund Ltd. and Ashley Park Enterprises Inc., will agree not to
exercise any right.
Upon completion of the debt for equity transaction and a successful
closing of the rights offering, the Company's working capital position will be
significantly improved and will allow the Company the flexibility to pursue
the markets for its new products.

Cencotech Inc. was created to acquire and manage emerging high technology
enterprises with sound business solutions for their customers. The
Corporation's present products are designed to bring efficiency to the
processing of currency and other value instruments in financial institutions,
large retailers, public transportation operations and the gaming industry.
Cencotech systems are "open-architectured" and have been developed to
interface with client's legacy systems.

The TSX Venture Exchange has neither approved nor disapproved of the
information contained in this release. This Media Release may contain forward-
looking statements, which reflect the Corporation's current expectations
regarding future events. The forward-looking statements involve risks and
uncertainties. Actual events could differ from those projected herein and
depend on a number of factors including the success of the Corporation's sales
strategies.