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.