Luxell Reports 1st Quarter Results for Fiscal 2007

    TORONTO, April 16 /CNW/ - Luxell Technologies Inc. (TSX:LUX) today
announced that revenues for the three months ended November 30, 2006 increased
147% to $726,932 as compared with $293,980 for the three months ended
November 30, 2005. The net loss for the quarter was $2,091,368 (($0.05) per
share) compared to a loss of $2,052,420 (($0.05) per share) for the three
months ended November 30, 2005.
    Through the first quarter of fiscal 2007, the Company continued to
produce and ship display products in order to fulfill existing contracts. The
Company also saw a new CEO appointed on September 8, 2006 who began the
Company's restructuring process. In addition, and as part of the Company's
filing of a Notice of Intent to make a proposal (the "Proposal") to its
creditors under the Bankruptcy and Insolvency Act (Canada), a Proposal was
submitted to Creditors. 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.
    Complete details of the Company's unaudited first quarter financial
statements for fiscal 2007 will be found at

    About Luxell

    Luxell designs, manufactures and licenses flat panel display technologies
and solutions for defence and avionics industries. More information can be
found at (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

    %SEDAR: 00008266E

For further information:

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

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