Lyrtech announces operating cost reductions and change in CFO



    QUEBEC CITY, Feb. 5 /CNW/ - Lyrtech Inc. (Lyrtech; TSX-V: LYT) announces
that it has taken important measures towards reducing costs and focusing on
its core activities. More specifically, downsizing and other cost-reduction
activities adopted over the last two months will generate operational annual
savings of over three quarters of a million dollars.
    These cost reductions do not account for the savings relating to disposal
of Lyrtech's former Montreal-based manufacturing operations, which was
successfully transferred to Enigma Interconnect. Manufacturing operations
have, however, resumed, but without Lyrtech being financially responsible for
them.
    Lyrtech considers that these cost-reduction efforts will be instrumental
in helping the company achieve its prime objective of attaining profitability
in 2008. Other cutback initiatives will be implemented as the company focuses
more on its core digital signal processing platforms and engineering
activities, including manufacturing of products designed for its engineering
customers.
    Lyrtech also announces that its current CFO, Mr. Alain Landry, has
resigned his position, effective February 5. Mr. Louis Bélanger, CEO,
temporarily becomes the company's acting CFO, until a permanent replacement
can be found. He is shouldered, in the meantime, by Mr. Vincent Bélanger, CA
of CFO Solution Inc. Mr. Vincent Bélanger (who is not related to Louis
Bélanger) is a former CFO of Lyrtech. Lyrtech would like to thank Mr. Landry
for his important contribution to Lyrtech over the last two and a half years.

    About Lyrtech

    Lyrtech 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 and software IP, as well as design, prototyping, and manufacturing
of electronic products through its manufacturing division. 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. For more
information, visit www.lyrtech.com.

    Forward-looking statements

    Certain statements made in this press release regarding Lyrtech's future
operations, expected financial position, future revenues, projected costs,
prospects, plans and objectives are forward-looking statements. These
forward-looking statements, by their nature, necessarily involve risks and
uncertainties that could cause actual results to differ materially from those
contemplated by the forward-looking statements. Lyrtech considers the
assumptions on which these forward-looking statements are based to be
reasonable at the time they were prepared, but cautions that these assumptions
regarding future events, many of which are beyond Lyrtech's control, may
ultimately prove to be incorrect. Factors and risks which could cause actual
results to differ materially from current expectations are discussed in
Lyrtech's annual report for the year ended December 31, 2006. Lyrtech
disclaims any intention or obligation to update or revise any forward-looking
statements. For additional information on risks and uncertainties relating to
these forward-looking statements, investors should consult Lyrtech's ongoing
filings, including its most recent annual report, found on SEDAR at
www.sedar.com.

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


    %SEDAR: 00014715EF




For further information:

For further information: Louis Bélanger, president, CEO, and acting CFO,
Lyrtech Inc., (418) 877-4644, louis.belanger@lyrtech.com

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LYRTECH INC.

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