Virtek Announces Receipt of Unsolicited Interest from Jaguar Financial; Reiterates Support for Gerber Scientific Offer

    WATERLOO, ON, Sept. 15 /CNW/ - Virtek Vision International Inc. (TSX:VRK)
("Virtek" or the "Company"), a leading provider of high value industrial laser
solutions, today announced the receipt of a letter from Jaguar Financial
Corporation ("Jaguar") indicating Jaguar is contemplating an offer to acquire
all Virtek common shares not already owned by Jaguar for cash consideration of
$1.05 per share plus additional consideration in an amount to be determined
subject to a satisfactory due diligence examination (the "Jaguar Expression of
    After an extensive sale process, Virtek entered into a support agreement
dated September 2, 2008 between Virtek, Gerber Scientific Canada Inc. and
Gerber Scientific, Inc. (the "Support Agreement"). Under the support
agreement, Virtek is not permitted to provide confidential information to a
third party unless the third party has submitted a proposal that could
reasonably be likely to constitute a "Superior Proposal" as defined in the
    In reviewing the limited information provided in the letter, and in
consultation with its financial advisor and its legal counsel, the Board of
Directors of Virtek has determined that the Jaguar Expression of Interest
could not reasonably be likely to constitute a "Superior Proposal" as defined
in the Support Agreement and responded accordingly in a letter to Jaguar on
September 12, 2008.
    Virtek reiterates its support for the offer from Gerber Scientific for
all of Virtek's Common Shares at a price of $1.05 in cash per share (the
"Gerber Offer") and unanimously recommends that shareholders accept the Gerber
Offer. The Virtek Board of Directors further believes that the Gerber Offer
being mailed to shareholders later today remains in the best interests of
Virtek and is fair to its shareholders. The Board of Directors of Virtek
believes the fully-financed Gerber Offer has a high probability of being
completed and asks that inquiries concerning the offer be directed to Gerber's
information agent: Kingsdale Shareholder Services Inc., toll free at

    About Virtek Vision International Inc.

    Virtek Vision International Inc. is a leading provider of high value
industrial laser solutions focused on the needs of the global manufacturing
sector, providing templating, inspection, marking and engraving products.
Virtek serves customers in the prefabricated construction, transportation,
metalworking, tool and die and mold making industries worldwide. Virtek is a
full service provider, with services including manufacturing, development,
integration, training, after sales support and installation. The Company
delivers high value to our customers, including feature-rich systems with a
quick payback, productivity enhancements and total turnkey solutions. The
majority of Virtek's sales are in the United States and Europe. Virtek
maintains offices in Waterloo, Ontario, Canada; Boston, Massachusetts, United
States; Ludenscheid and Nurnberg, Germany; and Busto Arsizio, Italy. Please
visit for more information.

    Forward-looking Statements

    Except for historical information provided herein, this press release may
contain information and statements of a forward-looking nature concerning the
future performance of the Company. These statements are based on suppositions
and uncertainties as well as on management's best possible evaluation of
future events. Such factors may include, without excluding other
considerations, fluctuations in quarterly results, evolution in customer
demand for the Company's products and services, the impact of price pressures
exerted by competitors, and general market trends or economic changes. As a
result, readers are advised that actual results may differ from expected

    %SEDAR: 00006230E

For further information:

For further information: about Virtek Vision International Inc. please
visit or contact: Peter Monsberger, VP Finance and CFO, Tel:
(519) 746-7190, Fax: (519) 746-3383, e-mail:;
Stephen J. Sorocky, President and CEO, Tel. (519) 746-7190, Fax. (519)
746-3383, e-mail:; Investor Relations Contact: Jo
Mira Clodman, Clodman Hecht Communications Inc., (416) 787-3773, e-mail:

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