TSX - GAR NISKU, AB, March 23 /CNW/ - Garneau Inc. announced today that it has filed restated quarterly consolidated financial statements for the first, second and third quarters of 2005 to correct an over amortization of certain plant and equipment that was identified during the course of the Corporation's year end audit. This error has been corrected in the restated quarterly financial statements and the net effect to the financial position of Garneau as set forth in the restated financial statements is to increase the net earnings in each quarter by approximately $106,000. The restated quarterly financials are now available on SEDAR at www.sedar.com. Garneau expects that its audited consolidated financial statements and MD&A for the year ended December 31, 2005 will also be filed shortly. About Garneau Inc. ------------------ Garneau Inc.'s primary business is the application of high performance protective coatings and linings for oil and gas pipeline protection. Garneau Inc. also designs and fabricates oilfield equipment for both domestic and international markets. During more than 30 years of operating experience, Garneau Inc. has developed significant expertise and innovative technology, and has maintained a long-term focus on continuously improving the pipe coating process with cost-effective, quality coatings. A talented and effective management team provides the vision and experience for long-term profitable growth and increasing shareholder value. The company's Website can be accessed at: http://www.garneau-inc.com/ %SEDAR: 00008952E