For Immediate Release 29 December, 2005
QuestAir Reduces Size of Board of Directors
BURNABY, B.C. - QuestAir Technologies Inc. (AIM: QAR; TSX: QAR) announced today that it will be presenting a slate of seven directors for re-election at its Annual General Meeting, down from the current nine.
QuestAir made a commitment to shareholders to reduce the size of its board of directors as part of its transition from being a venture capital financed company to being a publicly traded company, which occurred just over a year ago. Accordingly, the company will be decreasing the number of directors to seven at its Annual General Meeting, scheduled for 24 February, 2006. This will make the size of the board of directors more consistent with a company of its size.
In order to facilitate the reduced size, two current directors will be stepping down from the board. Michael Brown, Chairman of Chrysalix Energy Management Inc., will be stepping down immediately. Mr. Brown has served on the board of QuestAir since 1997, initially as the chairman of the board and subsequently as an independent director. David Berkowitz, Senior Vice President of Ventures West Management Inc., will not stand for re-election at the Annual General Meeting. Mr. Berkowitz joined the board in 1999 as a representative of Ventures West, one of the company's largest shareholders.
Jonathan Wilkinson, President and CEO of QuestAir said, "Both Michael and David have made strong contributions to the company over the past several years. Management and the board of directors thank them for their years of service."
About QuestAir Technologies Inc.
QuestAir Technologies, Inc. is a developer 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".
Forward Looking Statements
Certain statements in this press release may constitute ''forward-looking'' statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as "anticipate", "believe", "plan", "estimate", "expect", "intend", ''may'', ''will'' and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements.
For further information please contact:
QuestAir Technologies Inc.
Jonathan Wilkinson
President & CEO
Phone: (001) 604-454-1134
Email: wilkinson@questairinc.com
Web: www.questairinc.com
UK media contact:
Charles Ryland
Ben Willey
Eleanor Williamson
Buchanan Communications
Phone: 020 7466 5000
Canadian media contact:
Terry Foster
James Hoggan + Associates
Phone: (001) 604-739-7500
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