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Automodular Rights Offering
TORONTO - May 18, 2005
The board of directors of Automodular Corporation (the "Corporation") has approved a rights offering (the “Offering”), whereby eligible shareholders will be given the opportunity to acquire additional common shares of the Corporation. The Offering has received all necessary regulatory approval.
A circular setting out the terms and conditions of the Offering will be mailed to shareholders on or about May 30, 2005.
Under the terms of the offering, common shareholders will receive one right for each common share held. Class X shareholders will receive one right for each common share that Class X shares held are convertible into. For every six rights, an eligible shareholder will be entitled purchase one common share at the subscription price of $0.75 per common share.
The Offering is targeted to raise approximately $2.25 million. Funds raised will be used for capital and pre-production expenditures related to recent contract awards and for general corporate purposes.
The directors have set May 27, 2005 as the record date. Shareholders eligible to participate in the Offering will have until June 24, 2005 to exercise rights held. | 
