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December 18, 2002

ZTEST ANNOUNCES STOCK OPTION GRANTS

NORTH YORK, December 18, 2002 - ZTEST Electronics Inc. ("ZTEST" or the "Corporation") (CDNX - "YZT") wishes to announce that on December 17, 2002 ZTEST granted 900,000 options at a price of $0.10 per share, valid until December 17, 2007, to the following persons, subject to regulatory approval by the TSX Venture Exchange:

Name Position with ZTEST Number of Options
Wojciech Drzazga Chief Executive Officer 200,000
Director 75,000
John Perreault President 200,000
Director 75,000
William J. Brown Director 75,000
K. Michael Guerriero Director 75,000
Donald G. Nurse Director 75,000
William R. Johnstone Secretary 75,000
Michael D. Kindy Chief Financial Officer 50,000
TOTAL 900,000

The exercise price of the options was based on the closing price of the common shares of ZTEST on December 17, 2002 being $0.07.

For more information contact Investor Relations:
Flora Wood and Philip Williams
(416) 366-0012
email: info@ztest.com

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.