Montreal, October 30^th, 2006

MONTREAL, QUEBEC -- Perlite Canada Inc. (the "company") is pleased to announce the conclusion of an exclusive perlite distribution agreement with Aegean Perlites S.A. ("Aegean").

Under the terms of the agreement, the company has been named exclusive distributor for the raw perlite produced by Aegean for Canada (excluding the provinces of Alberta and British Columbia) and for the east coast of the United States.

The agreement was concluded following a diligent mutual verification by the parties of their respective business that extended over a period of approximately 18 months. The company believes that this agreement will guarantee it a supply of superior-quality raw perlite and enable it to support the growth of its activities. According to the company, the agreement will promote the development of new markets for its perlite-transformation activities while adding the sale of raw perlite to its activities.

The initial term of the agreement is 10 years, and the agreement is renewable for successive periods of 5 years after that. The agreement is subject to the company achieving certain annual sales minimums for raw perlite.

Aegean is a Greek company that has owned and operated a perlite mine on the island of Yali in Greece since 1994. Aegean has international sales in more than 10 countries in the European Union, the Middle East and the American continent.