Sofame Technologies Inc. comments on results for the second quarter, and first six months ended March 31, 2008



    MONTREAL, June 2 /CNW Telbec/ - Sofame Technologies Inc. has filed its
results for the second quarter and first six months ended March 31, 2008.

    
    Second quarter events:

    - In March, Sofame announced first quarter gross margin ending
      December 31, 2007 of 36.3% compared to 13.3% in the same prior period
      on flat sales of $589,000
    - Gross margin in the second quarter ending March 31, 2008 was 38.9%
      versus (10.9%) in the same period a year earlier
    - Revenues in the second quarter ending March 31, 2008 were $766,027
      representing an increase of 114% versus $358,112 in the same quarter of
      2007
    - The net loss in the second quarter was $248,524 after restructuring
      costs, a significant improvement versus second quarter loss of $405,480
      a year earlier
    - Increase in commitment from Wise Energy Equipment Solutions Inc. of
      St-Paul, Minnesota, to order $12 million of Sofame equipment over three
      years
    - Exclusive agreement with Soffimat SA of Paris to represent Sofame in
      France, and become a partner in Sofame Europe to recruit and manage
      agents and distributors across Europe, the Middle East and North Africa

    Events subsequent to March 31, 2008

    - In April 2008, Sofame closed a private placement of $2.18 million and
      issued 7,147,541 common shares at $0.305 to accredited investors
    - Sofame welcomed Stoermer Industrial Energy Systems to Manufacturer's
      Representative network covering Ohio and Kentucky
    - Dutton and Associates in the United States initiated coverage of Sofame
      shares on April 24, 2008, with a strong speculative buy recommendation
    - During a European investor tour, Sofame was invited to present at the
      Cleantech Forum in Brussels, where the 100% customer financing model
      was presented to green funds and institutional investors
    - Ahmed Hirani joined Sofame as Vice President of Sales with the mandate
      to expand the sales team and Representative network across North
      America
    - Sofame chose Enviroair Industries to be its exclusive Rep in Quebec and
      eastern Ontario
    

    Sofame's President and Chief Executive Officer, John Gocek stated, "The
last six months have been cathartic for Sofame, as a host of positive changes
have been brought to the operations and marketing. These achievements were
made while the plant was in full operation during the last two quarters. Some
of the more important plant restructuring was completed in May 2008, and we
expect manufacturing capacity to increase by 300% following implementation of
flow manufacturing and 5S principles on the shop floor. The product line is
now ideally suited to meet the energy efficiency requirements of industrial
and institutional thermal plant operators and owners.
    The announcement today by Quebec and Ontario provincial legislatures to
implement a cap and trade system to legislate greenhouse gas reductions by
industry in these two Canadian provinces will place Sofame at the top of the
agenda for many companies operating thermal plants and boilers where major
energy savings can be achieved immediately."

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    About Sofame

    SOFAME Technologies Inc. custom engineers and manufactures unique,
high-efficiency direct-contact heat recovery and hot water heating systems.
Sofame's products extract up to 99% of heat from flue gases depending on the
application, and also from wastewater, and return the energy in the form of
high temperature hot water or preheated make-up air. In addition to
economically recovering heat from waste energy, Sofame's products also help
customers to significantly reduce greenhouse gas emissions. Using world
leading, patented green technology, the Company serves building owners,
institutional, industrial and commercial markets through a network of
dedicated engineering representatives.
    %SEDAR: 00005005E




For further information:

For further information: Kelly Hamblin, Sofame Technologies Inc., (514)
523-6545 ext. 233, kellyhamblin@sofame.com; Jérôme Cliche, Sofame Technologies
Inc., (514) 523-6545 ext. 249, jeromecliche@sofame.com

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