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To: Gilbert Drapeau who wrote (182)	6/20/2001 11:10:10 AM
From: Gilbert Drapeau	Read Replies (3) \| Respond to of 192

Mindready Announces Restructuring Program to Adjust to a Decrease in Revenues for the Second Quarter MONTREAL, QUEBEC--JUNE 20, 2001 - 08:10 EDT Mindready Solutions Inc., a leading supplier of test engineering and real-time communications solutions for the telecommunications, aerospace and multimedia industries today announced a restructuring program aimed at rationalizing some of its operations. The objective of this program is to adjust to the impacts of the overall business environment slowdown in the telecommunications industry, the company's main market. This slowdown will account for a significant decrease in the company's revenues and earnings in the second quarter, compared with last quarter's results. These impacts follow the realignment process currently undertaken by the company's major clients, resulting in the postponement of the implementation of many projects. This restructuring program includes cost reduction measures, that have already been initiated, aiming at reducing the company's operating costs by about 4.5 millions dollars on an annualised basis. These measures affect about 15% of the company's overall headcount and will account for a special charge of $450,000 that will be taken against second-quarter earnings. "While we are taking some difficult decisions today, I am confident that our strategy is the right one," said Mr Daniel Dussault, president and chief executive officer at Mindready Solutions Inc. "With the current market conditions that will continue to be difficult in 2001, it is important to adjust our operations and related operating expenses to a lower level of revenues than we were forecasting. I believe those initiatives coupled with an improving business environment should well position Mindready for continuous growth in the future". Mindready Solutions Inc. Mindready is a leading supplier of test engineering services and real-time communications solutions for embedded systems for the telecommunications, aerospace and multimedia industries. Recognized as a leader in IEEE-1394-based products, Mindready offers complete innovative solutions based on this technology. Mindready's expertise covers design and development of real-time applications, as well as complete test engineering solutions for complex embedded systems. Mindready's clients include Nortel Networks, Hewlett-Packard, WindRiver, Boeing, Fujitsu, Maxtor, Xerox and Texas Instruments. More information about Mindready and its products and services can be found at www.mindready.com. Forward-looking statements Certain statements contained in this press release regarding Mindready's future operating results or performance or business prospects and any other statements not constituting historical facts are "forward-looking statements". These forward-looking statements reflect only Mindready's current beliefs and specific assumptions with respect to future business decisions and results are based on information currently available to Mindready. Accordingly, these statements are subject to risks, uncertainties and contingencies, which could cause Mindready's future operating results, performance or business prospects to differ from those expressed in, or implied by, these statements.