Lyrtech announces the taking in payment of the assets of Lyrtech and Lyrtech RD by Finexcorp

QUEBEC CITY, Nov. 16, 2011 /CNW Telbec/ - Lyrtech Inc. ("Lyrtech" or the "Corporation") (TSXV: LTK), a leader in digital signal processing technologies, and its affiliate company Lyrtech RD Inc., announces the taking in payment, on November 15, 2011, of their assets by a secured creditor, Finexcorp Inc., following a judgment rendered by Quebec Superior Court.

Finexcorp and its affiliates have indicated their intention to support the operations that will continue. A new corporate entity will fulfill all of Lyrtech's contractual obligations and outstanding orders. They assure that customers and partners will know a seamless and rapid transition.

The Corporation will continue to provide updates on the situation.

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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