Lyrtech announces the receipt of a motion to institute proceedings of premature forced surrender and taking in payment

QUEBEC CITY, Nov. 14, 2011 /CNW Telbec/ - Lyrtech Inc. ("Lyrtech" or the "Corporation") (TSXV: LTK), a worldwide leader in digital signal processing technologies, and its affiliate company Lyrtech RD Inc., announce the receipt on November 11, 2011, of a motion to institute proceedings of premature forced surrender and taking in payment served by a secured creditor, Finexcorp Inc., under section 2765 and following of the Civil Code of Québec (the "Motion"). The Motion was sent following the receipt of prior notices of exercise of a hypothec issued on October 17, 2011.

The request will be heard on November 15, 2011 at the Palais de Justice of Quebec City.

The Corporation will continue to provide updates as it develops the next steps of its strategy.

About Lyrtech
Lyrtech, a proud member of the Texas Instruments Design House Network, develops and manufactures advanced digital signal processing solutions for companies worldwide, a vital technology to network and wireless communications, audio and video processing, as well as electronic systems in all fields of technology. Lyrtech offers a full range of DSP-FPGA development platforms, as well as design, prototyping, and manufacturing of electronic products. Lyrtech works in partnership with industry leaders such as Texas Instruments, The MathWorks, and Xilinx. Lyrtech's customers include many prestigious names of the consumer electronics, telecommunications, aerospace, and defense fields.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

SOURCE LYRTECH INC.

For further information:

Louis Belanger
President and CEO

Lyrtech Inc.
(418) 877-4644
louis.belanger@lyrtech.com

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LYRTECH INC.

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