Aearo announces acquisition of units of Con-Space

    INDIANAPOLIS, April 12 /CNW Telbec/ - On April 11, 2007, Aearo Company I
("Aearo") acquired 2,500,000 units of Con-Space Communications Ltd.
("Con-Space"). Each unit consists of one common share and one-quarter of one
common share purchase warrant with each whole warrant exercisable into one
common share upon payment of $1.00 per unit if exercised during the 36-month
period following the closing of the private placement of the units, $1.10 per
unit if exercised during the following 12-month period and $1.22 per unit if
exercised thereafter. These securities represent 19.81% of the currently
issued and outstanding common shares of Con-Space assuming exercise of all
warrants held by Aearo.
    Aearo and Con-Space entered into a subscription agreement for the
purchase by Aearo of the units (the "Subscription Agreement"). The
Subscription Agreement contained the terms under which the transaction was
made and the pricing terms of the warrants. As well, standard representations
and warranties were made by each party.
    Aearo's investment was carried out for general investment purposes.
Con-Space common shares trade on the TSX Venture Exchange, though the units
were purchased by private placement. Aearo may, from time to time, make
additional investments in or otherwise trade in Con-Space securities or
dispose of such securities, subject to market conditions.

For further information:

For further information: Rahul Kapur, Senior Vice-President, Aearo
Company I, (317) 692-6744

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