For Immediate Release December 23, 2004
QuestAir Directors purchase IPO shares
BURNABY, B.C. - QuestAir Technologies Inc. ("QuestAir" or "the Company"; AIM: QAR; TSX: QAR), a developer, manufacturer and supplier of advanced gas purification systems, announced today that two of its Directors purchased shares in its recent Initial Public Offering, that closed on 21 December 2004.
QuestAir director Michael Brown purchased 11,429 common shares at $1.75, taking his personal holding to 60,014 common shares. Subsequent to the purchase, Mr. Brown transferred the purchased stock to Nepal Management Limited, a company beneficially owned by Mr. Brown.
Also, Harold Copping purchased 15,000 common shares at $1.75 via a holding company HalCop Holdings Limited, which is beneficially owned by Mr. Copping and his wife. Following the share purchase, Mr. Copping holds 15,000 common shares.
This announcement is made pursuant to the rules governing the operation of AIM as established by the London Stock Exchange Plc.
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About QuestAir Technologies Inc.
QuestAir Technologies, Inc. is a developer, manufacturer and supplier of proprietary gas purification systems for several large international markets, including existing markets such as oil refining, biogas production and natural gas processing, and emerging markets such as fuel cell power plants and fuel cell vehicle refuelling stations. The Company has joint development agreements with Exxon Mobil Research and Engineering Company and Shell Hydrogen, and a collaboration with FuelCell Energy. QuestAir is based in Burnaby, British Columbia and its shares trade on the AIM Market of the London Stock Exchange Plc. and on the Toronto Stock Exchange under the symbol "QAR".
For further information please contact:
| QuestAir Technologies Inc. |
Canaccord Capital (Europe) Limited |
| Andrew Hall |
Mark Ashurst |
| Director, Corporate Development |
Clayton Bush |
| Phone: 604-453-6967 |
Phone: 020 7518 2777 |
| Email: hall@questairinc.com |
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| Web: www.questairinc.com |
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| UK media contact |
Canadian media contact |
| Charles Ryland |
John Kageorge |
| Ben Willey |
James Hoggan + Associates |
| Eleanor Williamson |
Phone: (001) 604-739-7500 |
| Buchanan Communications |
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| Phone: 020 7466 5000 |
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