Cymat Acquires Rights to Aluminum Foaming Technology

Toronto, Ontario (October 19, 2001) – Cymat Corp., an innovative materials technology company, today announced that it has entered into an agreement with Cambridge University and QinetiQ (UK Department of Defense) to secure the exclusive licensing rights to a new hybrid aluminum foaming technology. This technology, which combines the best of aspects of Cymat's technology with that of powder metals technology, will provide the capability to economically fill complex cavities.

Cymat, Cambridge and QinetiQ have been collaborating for over a year to develop this foaming technology. The process combines Cymat’s feedstock with an inexpensive foaming agent to form solid plugs that, when heated, expand into their surroundings. The result is a uniform-celled foam at a cost substantially lower than current powder based foams and comparable to Cymat’s existing process.

“This is the final piece of the puzzle for our technology,” said Michael M. Liik, Cymat’s Chairman and CEO. “This technology will enable us to expand into a wider range of applications in automotive and other industries. In particular, it provides us with the ability to fill complex and difficult-to-access parts within the car frame for structural reinforcement purposes.”

About Cymat

Cymat is a materials technology company that has exclusive worldwide rights, through patents and licenses, for producing Stabilized Aluminum Foam (SAF). The proprietary, versatile process to produce SAF combines alloyed aluminum with a metal matrix composite to create strong, lightweight panels and shapes or fill cavities. SAF is a revolutionary material with a wide array of benefits, including a high strength-to-weight ratio, mechanical energy absorption, thermal and acoustic insulation, recyclability and relative low cost of production. Cymat’s research and development group is collaborating with a number of partners spanning the automotive, rail, oil and gas, marine and defense industries to develop applications for SAF. The company’s principal focus is on automotive, where SAF is ideally suited to the industry’s objectives to make vehicles lighter, safer and better for the environment. After years of extensive R&D, Cymat began commercialization of SAF in 2000 and has processed initial commercial orders. For further information, visit the Web site www.cymat.com.

For further information, please contact:
Michael M. Liik
Chairman & CEO
Cymat Corp.
(905) 696-9900
email: investor@cymat.com

Marla Gale
Investor Relations
Fleishman-Hillard Canada
(416) 214-0701
email: galem@fleishman.com