TSX Symbol: CH TORONTO, Nov. 2 /CNW/ - Century II Holdings Inc. today announced its consolidated financial results for the third quarter ended September 30, 2006. The Company's operations principally reflect its investment in Information Communication Services (ICS) Inc. (operating as ICS Courier). The Company reported net earnings in the third quarter of 2006 of $1.3 million ($0.11 per share) compared to $1.0 million ($0.09 per share) for the same period last year. Net earnings for the nine months ended September 30, 2006 are $6.5 million ($0.57 per share) compared to $2.9 million ($0.25 per share) for the same period last year. Earnings before income taxes in the quarter of $2.0 million represent an improvement of $1.0 million compared to last year. Year-to-date pre-tax earnings of $5.0 million are 173% higher than the same period last year. Commenting on the financial performance of the third quarter of 2006, Mr. Geoff Davies, President and Chief Executive Officer of the Company, said that "the Company's continued improved financial performance is attributed to the ongoing focus by its employees on customer service and operations efficiency. Revenue increases reflect increased volumes which combined with effective cost controls are contributing to the continuing improvement in earnings." At its meeting held on November 1, 2006, the Board of Directors authorized the payment of a one time dividend of $0.16 per share. This dividend will be payable on December 15, 2006 to shareholders of record at the close of business on December 1, 2006. About Century II Holdings Inc. (TSX Symbol: CH) ----------------------------------------------- Century II Holdings Inc. is a publicly listed holding company whose wholly owned subsidiary, ICS Courier, operates a fixed route courier business servicing in excess of 35,000 accounts largely in the insurance, financial, travel, optical and dental business sectors across Canada. Certain statements in this press release constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance and achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, competition and technological changes. These factors and other risks and uncertainties are discussed in the Company's Annual Report for the year ended December 31, 2005 and in the subsequent reports filed by the Company with the Ontario Securities Commission. %SEDAR: 00002281E