Avensys has entered into a definitive agreement to acquire most of the assets of ITF Optic

April 6, 2006

2 Min Read

MONTREAL -- Avensys Inc., a wholly-owned subsidiaryof Manaris Corporation (OTCBB: MANS) (FRANKFURT WKN: A0F5LD), today announced that it has entered into a definitive agreement to acquire most of the assets of ITF Optical Technologies Inc. (ITF), a designer and manufacturer of advanced photonic solutions based on proprietary all-fiber technology.

ITF adds complementary products to Avensys’ current offerings and provides access to a new potential customer base. ITF specializes in providing sophisticated high-end applications for submarine, military, telecom and industrial uses. This will benefit Avensys and will serve to elevate both the Company’s technological depth and production capabilities.

ITF has invested over CAD $50,000,000 in facilities and high-end equipment since its creation in 1997. This acquisition will provide Avensys’ fiber component production division, Avensys Technologies, with access to ITF’s 10,000 square foot clean room, thereby providing economies of scale and facilities for future growth.In a separate transaction, ITF’s Research and Development unit, including all of its intellectual property assets, will be merged with that of Avensys’partner, Avensys Laboratories Inc. and will be renamed ITF Laboratories to leverage the strength of the ITF brand in the photonics industry. ITF Laboratories will spearhead the development of ultra-reliable fiber-optic systems; optical sensors and instrumentation; and fiber laser components.The two proposed transactions are subject to approval from ITF’s current shareholders, with final closing of the transaction expected in April 2006.

“Avensys and ITF are complementary in terms of the markets they serve. Most of Avensys Technologies’ business is generated in Asia and Europe while ITF’s primary market is the U.S. We expect these transactions to play a critical role as we move forward with our goals to accelerate Avensys Technology’s growth and position the Company as an important agent of consolidation in this sector,” stated Martin d’Amours, President and CEO of Avensys.

Avensys Inc.

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