CVTech Group Inc. announces its intention to make a normal course issuer bid



    DRUMMONDVILLE, QC, Oct. 27 /CNW Telbec/ - CVTech Group Inc. ("CVTech" or
the "Corporation") (Toronto Stock Exchange: CVT) announces its intention to
make a normal course issuer bid (the "bid").
    Having obtained the approval of the Toronto Stock Exchange, CVTech may
now repurchase, for cancellation purposes, up to 2,771,678 common shares over
a twelve (12) month period beginning October 29, 2008 and ending October 28,
2009, which represents five per cent (5%) of CVTech's issued and outstanding
common shares calculated on a non fully diluted basis.
    The purchases will be done only through the intermediary of the Toronto
Stock Exchange and at the market price at the time of purchase. As at October
23, 2008, there are 55,433,577 common shares issued and outstanding.
    Between April 1, 2008 and September 30, 2008, the average daily trading
volume for the common shares of CVTech was 225,927 shares. Therefore, under
the rules and policies of the Toronto Stock Exchange, CVTech has the right to
repurchase, for any one trading day, a maximum of fifty-six thousand four
hundred and eighty-one (56,481) common shares, which represents twenty-five
per cent (25%) of the average daily trading volume.
    Also, CVTech may purchase, once per calendar week and in addition to the
daily limit of fifty-six thousand four hundred and eighty-one (56,481) common
shares, one block of shares (as defined by the Toronto Stock Exchange Manual)
not directly or indirectly owned by insiders of the Corporation, in accordance
with the rules and policies of the Toronto Stock Exchange.
    The Board of Directors of CVTech considers that it is in the best
interest of its shareholders to use a portion of its positive cash flow to
repurchase the Corporation's common shares considering that the price on the
Toronto Stock Exchange does not reflect the Corporation's book value and its
growth potential. The Corporation has not repurchased any common shares in the
twelve months preceding the bid.
    All repurchases of common shares made by the Corporation will be made
solely within the framework of the bid and in conformity with the rules and
policies of the Toronto Stock Exchange. To the knowledge of the Corporation,
no director, insider or senior officer intends to sell to CVTech common shares
during the term of the bid.

    OVERVIEW

    CVTech is a management corporation. Its subsidiary, Thiro ltée ("Thiro")
provides services for the construction and maintenance of electrical
transmission and distribution lines. Thiro has two indirect subsidiaries:
Thiro USA and J.J.L. Déboisement inc. ("J.J.L."). Thiro USA, like Thiro,
provides services for the construction and maintenance of electrical
transmission and distribution lines. J.J.L. specializes in vegetation control
on rights-of-way for transmission and distribution lines. Other subsidiaries
design, manufacture and sell CVT. The subsidiary CVTech-AAB specializes in the
rebuilding of crankshafts, the reconditioning of cylinders and in the
distribution of engine parts.
    CVTech is the owner of the trademarks and CVTech R&D inc. holds the
intellectual property on products which are part of its technological
solutions.
    CVTech currently has a staff of approximately 607 employees comprising
165 employees in the CVT systems and related products segments and
442 employees in the electricity segment.

    FORWARD-LOOKING STATEMENTS

    The present document may contain forward-looking statements that reflect
the current expectations of management with regard to future events. These
forward-looking statements depend on a certain number of factors and are
subject to risks and uncertainties. The actual results could differ from those
anticipated. Management undertakes no obligation to update or revise the said
forward-looking statements on receipt of new information or subsequent to
future events other than the ones required by law.

    For further information with regard to CVTech, the reader is invited to
consult the SEDAR database and the Corporation's Website at: www.cvtech.ca.




For further information:

For further information: André Laramée, MBA, President and CEO, CVTech
Group Inc., (819) 477-3232; Mario Trahan, CMA, Chief Financial Officer, CVTech
Group Inc., (819) 477-3232

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