Lyrtech awarded contract for up to $8 million for the delivery of circuit processors

    QUEBEC CITY, Nov. 8 /CNW/ - Lyrtech Inc. ("Lyrtech" or the "Company")
(TSX-V: LYT), a worldwide leader in digital signal processing ("DSP")
technologies with state-of-the-art EMS facilities, today announced it has been
awarded a contract for up to $8 million over 12 months to supply circuit
processors and engineering services to a customer in the global security
industry. Under terms of the agreement, Lyrtech will initially receive
$4 million for the manufacturing of units and provision of warranty services,
with the potential for an additional $4 million to be received if all options
are exercised. It is expected that up to twenty jobs will be created to
fulfill this contract and revenue recognition will commence in January 2008.
    "We believe this customer order demonstrates the strategic benefits and
value creation our Innovator Division provides. Our ability to work with
difficult prototype designs and production requirements, along with our many
years of experience in providing these services proved key in winning this
contract," said Miguel Caron, President and CEO of Lyrtech. "With this order
we believe that we will be in a better position to report positive earnings in
fiscal 2008."

    About Lyrtech Inc.

    Lyrtech is a worldwide leader in digital signal processing ("DSP")
technologies with state of the art EMS facilities. The Company 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, as
well as design, prototyping, and manufacturing of electronic products through
its Innovator 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 such as BAE Systems, Defence Research and Development
Canada (DRDC), the European Aerospace Defence and Space Company (EADS),
Fujitsu, Harris, ITT, Motorola, Neural Audio, NTT DoCoMo, and Samsung-Thales.
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    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

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

For further information:

For further information: Miguel Caron, President and Chief Executive
Officer, Lyrtech Inc., (418) 877-4644,; Alain Landry,
Chief Financial Officer, Lyrtech Inc., (418) 877-4644,; Investor Relations: Matthieu Cardinal, The Equicom
Group, (514) 844-6054,; Media Relations:
Marie-Claude Leroux, Morin Relations Publiques, (514) 289-8688 ext. 224,

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