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Leuven, July 4th 2007 - Metris (MTRS, Euronext Brussels) and Virtek Vision International Inc. (TSX:VRK) announce today that they have signed an asset purchase agreement for the acquisition by Metris of the Virtek Intelligent Laser Systems (iLS) division. The Virtek iLS acquisition fits in the Metris strategy to strengthen its distribution channels by acquiring companies that provide integration services in conjunction with Metris large scale metrology products.
Through this acquisition Metris strengthens its aerospace integration capabilities and reaches its 2007 strategic acquisition objectives.

The purchase agreement is subject to confirmatory due diligence and certain closing conditions and provides for a consideration of approximately C$6 million in cash. The budgeted revenues of the Virtek iLS division for the current fiscal year, total C$7,6 million. Metris expects the acquisition to be net profit accretive for the year 2007.

Virtek Vision International Inc. is a leading developer of precision laser-based technologies. The Virtek iLS division provides breakthrough technology to aircraft manufacturing - highly accurate large scale integrated measurement systems, advanced laser projection equipment, and complete workcell automation solutions.

Virtek's iLS was already appointed since July 2006 as integrator for Metris' iGPS and Laser Radar technology. The iGPS system is a modular, large volume tracking and measurement system that enables factory-wide localization of multiple objects simultaneously. The Metris Laser Radar provides fully automated, non-contact measurement and inspection capability for large-volume metrology applications up to 60 meters.

“We expect this acquisition to accelerate the adoption of iGPS and laser radar, since it allows us to offer our customers total integrated large scale metrology solutions” comments Bart Van Coppenolle, CEO and President of Metris. “The integration talent of Virtek iLS now completes the Metris large scale capabilities.”

“We have been pleased with the performance of our iLS group and optimistic about its potential to grow.  We believe, however, that it will be a better fit with Metris while we focus our energy on our Marking and Engraving business segment. This transaction should be positive for the future of both Virtek and Metris,” stated Bob Sandness, President and CEO of Virtek.

After integration of the acquisitions of Coord3, Garda and Virtek iLS, Metris will have executed on all three strategic acquisition objectives described in the financial report 2006.

Metris announces as well the successful closing of the Garda acquisition on July 2, 2007.
 

About Virtek Vision International Inc.

Virtek Vision International Inc. is a Canadian provider of precision laser-based templating, inspection, marking and engraving products and systems integration solutions. Virtek serves customers in the prefabricated construction, transportation, metalworking, tool and die and mold making industries worldwide. The Company's solutions enable customers to produce their products faster, better and at a lower cost. The majority of Virtek's sales are in the United States and Europe. Virtek maintains offices in Waterloo, Ontario, Canada; Boston, Massachusetts, USA; Ludenscheid and Nurnberg, Germany and Ebina City, Kanagawa, Japan.

More information is available at www.virtek.ca.