ARISE files revised MD&A and restated June 30, 2006 and September 30, 2006 interim consolidated financial statements



    WATERLOO REGION, ON, March 6 /CNW/ - ARISE Technologies Corporation
(TSX-V: APV) announced today that it has filed revised Management Discussion &
Analysis (MD&A) and restated interim consolidated financial statements for the
second quarter and six months ended June 30, 2006 and third quarter and nine
months ended September 30, 2006.
    The restatements were undertaken to reflect a correction made to employee
stock compensation expenses. Employee stock compensation expenses related to
stock options previously granted in the first quarter of fiscal 2006 or
granted during the second and third quarters and vested in the second or third
quarters of fiscal 2006 were not recorded in earlier financial statements due
to a clerical error. This adjustment is a non-cash item and previous stock
option plan reporting in the notes to the interim consolidated financial
statements for the second and third quarters of fiscal 2006 properly disclosed
the quantity of options granted. No other revisions to the June 30, 2006 or
September 30, 2006 MD&A or interim consolidated financial statements have been
made.
    ARISE maintains a fixed stock option plan that enables it to grant
eligible officers, directors, employees or any other person, advisor, firm or
corporation engaged in management or consulting services for the Company or
any of its subsidiaries the right to acquire shares of ARISE. As a result of
these restatements, contributed capital and General and Administrative
expenses both increased by $147,054 for the quarter ended June 30, 2006 and by
$149,763 for the quarter ended September 30, 2006 ($296,817 for the nine
months ended September 30, 2006). As a result, net loss has been restated to
$582,469 for the second quarter and $1,343,130 for the six months ended June
30, 2006. Net loss has been restated to $650,919 for the third quarter and
$1,994,049 for the nine months ended September 30, 2006.
    Complete copies of the Company's revised Management Discussion & Analysis
and restated interim consolidated financial statements for the second quarter
and six months ended June 30, 2006 and the third quarter and nine months ended
September 30, 2006 can be obtained from the Company's web site at
www.arisetech.com or on SEDAR at www.sedar.com.

    About ARISE
    ARISE Technologies is dedicated to accelerating the use of solar energy
in mainstream North American markets. The Company's shares are listed on the
TSX Venture Exchange under the symbol APV. Additional information is available
at www.arisetech.com and www.sedar.com. Certain statements contained in this
press release may be considered as forward-looking. Such forward-looking
statements are subject to risks and uncertainties that could cause actual
results to differ materially from estimated or implied results. The TSX
Venture Exchange has neither approved nor disapproved the contents of this
news release.

    %SEDAR: 00017494E




For further information:

For further information: ARISE Technologies Corporation, 321 Shoemaker
Street, Kitchener, Ontario, Canada, N2E 3B3, Tel. (519) 725-2244, Fax: (519)
725-8907, www.arisetech.com; David Ward, Director, Communications & Investor
Relations, T: (519) 725-2244, C: (416) 953-7638, david.ward@arisetech.com

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ARISE TECHNOLOGIES CORPORATION

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