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February 25, 1998

Ztest Electronics Inc. Company Update

MISSISSAUGA, ONTARIO--ZTEST Electronics, (the "Company") is pleased to announce that it has agreed to accept an offer from a lendor to the Company to exchange debts of $180,000 for the issuance by the Company of 150,000 units, each unit being comprised of one (1) common share priced at $1.20 per share and six-tenths (6/10) of a warrant with each full warrant being good to purchase a further common share at a price of $1.35 until six months from Closing.

The Company, in addition to its proprietary line of Automatic Test Equipment, offers strategic partner services in electronic design and manufacturing to emerging high tech companies in return for long-term manufacturing contracts together with a combination of fees and equity positions.

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