Luxell Reports Results for Fiscal 2006



    TORONTO, March 9 /CNW/ - Luxell Technologies Inc. (TSX:LUX) today
announced results for fiscal 2006. The Company reported that revenues for the
year ending August 31, 2006 were $3,328,352, as compared with $2,800,601 for
the prior fiscal year. The total net loss for 2006 was $8,775,586 or $0.20 per
share compared to a net loss of $7,169,442 or $0.17 per share for 2005.
    Revenues for the fourth quarter ended August 31, 2006 were $838,000
compared to $1,003,455 for the same period in 2005. The net loss for the
fourth quarter ended August 31, 2006 was $3,237,000 versus a loss of
$1,801,535 for the fourth quarter of 2005.
    On August 28, 2006, just prior to the end of the 4th quarter and year
end, Luxell filed a Notice of Intent to make a proposal (the "Proposal") to
its creditors under the Bankruptcy and Insolvency Act (Canada). BDO Dunwoody
were appointed as Trustee. On October 18, 2006, the majority of the Company's
creditors voted in favour of a submitted proposal and this was subsequently
approved by the Superior Court of Justice on November 7, 2006.
    John MacDonald, Chairman and Luxell's interim-CEO at the 2006 year-end
said, "I'm confident that as the current year unfolds, shareholders will begin
to see a completely new company emerge. The Board of Directors is extremely
pleased to see what our new management group is achieving as they continue to
restructure sales and operations and move Luxell towards profitability. I hope
we see a lot of shareholders come out for the AGM where they will be able to
meet the new management team and get more information on the positive changes
taking place."
    For more details please see the complete filings posted on the Sedar web
site.

    About Luxell

    Luxell designs, manufactures and licenses flat panel display technologies
and solutions for defence and avionics industries. More information can be
found at www.luxell.com. (C) Luxell Technologies Inc., Luxell and Black Layer
are trademarks of Luxell Technologies Inc. All other company and/or product
names are trademarks and/or registered trademarks of their respective
manufacturers.

    %SEDAR: 00008266E




For further information:

For further information: Luxell Technologies Inc.: Simon Dann, Director,
Corporate Communications & Investor Relations, (905) 363-0325,
sdann@luxell.com

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LUXELL TECHNOLOGIES INC.

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