Valiant and PARI Enter into Strategic Joint Venture for India

Windsor, Ontario, August 16, 2007 — Valiant Machine & Tool Inc. of Windsor, Ontario has signed a Memorandum of Understanding to create a strategic joint venture with Precision Automation & Robotics India Limited, of Pune, India for purposes of engineering, project management, after sales support and services, marketing and supporting procurement initiatives of Valiant in the Asia-Pacific region. PARI will have an exclusive relationship with Valiant to support all manufacturing and service support for body-in-white engineering and assembly within the region, in addition to specific technologies for powertrain assembly and material handling.

Valiant is a fully integrated manufacturer supplying turn key automated production systems for body-in-white, Powertrain, industrial parts cleaning, plastic injection molding and casting production tooling for the automotive, aerospace, construction and forestry industries.

PARI is a turnkey provider of integrated automated production systems and specialty machines and equipment in welding & assembly, powertrain, and related tooling in a rapidly growing Asia-Pacific Region.

The new company, to be known as VALIANT-PARI PRODUCTION SYSTEMS PVT.LTD will be headquartered in Pune, India. Valiant - PARI will be a full service provider of automated body-in-white lines for the automotive industry in Asia-Pacific. The JV will provide the necessary infrastructure to fully support turnkey services in the region and expand the global service capability of Valiant and PARI with a combined resource pool of over 1000 engineering and project management staff worldwide.

Through this partnership, Valiant, with operations in Canada, USA, Belgium, Austria, Czech Republic and Germany is broadening its commitment to the automotive industry with a focus on North America, Europe, and Asia-Pacific Markets.