API Electronics Reports Record Results for Fiscal 2006

New York (ots/PRNewswire) - API Electronics Group Corp. (OTCBB:
AEGCF; ISIN: CA0018591077; WKN: A0DJ0U) today announced record
financial results for its fiscal year ended May 31, 2006. Note that
all figures are in U.S. dollars and are presented according to U.S.
GAAP.

Revenue for the fiscal year ended May 31, 2006 increased 25% to
US$15,634,093 from US$12,547,551 for the comparable 2005 fiscal year.
A strong order flow also contributed to a backlog of US$10,950,000.

For the fiscal year ended May 31, 2006, operating income increased
271% to US$874,841 from US$435,879 in the previous period. In
addition, net income increased 138% to US$716,598 from US$301, 006 in
the previous year.

The audited U.S. GAAP financial statements for API Electronics
Corp. are included in the joint proxy statement filed by API
Electronics Corp. and Rubincon Ventures Inc. with the Securities and
Exchange Commission on September 22, 2006, which is publicly
available at www.sec.gov and can be found under the Edgar filings
made by Rubincon Ventures Inc.

About API Electronics

API Electronics Group Corp., through its wholly owned subsidiaries
API Electronics Inc., Filtran Group, TM Systems and Keytronics, is
engaged in the manufacture of electronic components and systems for
the defense and communications industries. With a growing list of
blue chip customers, including Honeywell/Allied Signal, General
Dynamics, Lockheed Martin and numerous other top technology-based
firms around the world, API regularly ships off-the-shelf and custom
designed products to clients in more than 34 countries. API owns
state-of-the-art manufacturing and technology centers in New York,
Connecticut and Ontario, Canada and has manufacturing capabilities in
China and a distribution center in Britain. API Electronics trades on
the OTC Bulletin Board under the symbol AEGCF. For further
information, please visit our website at www.apielectronics.com.

This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.
All forward-looking statements are subject to certain risks,
uncertainties and assumptions. These risks and uncertainties, which
are more fully described in API's Annual and Quarterly Reports filed
with the Securities and Exchange Commission, include changes in
market conditions in the industries in which the Company operates.
Should one or more of these risks or uncertainties materialize, or
should the assumptions prove incorrect, actual results may vary in
material aspects from those currently anticipated.

ots Originaltext: API Electronics Inc
Im Internet recherchierbar: http://www.presseportal.de

Contact:
FOR FURTHER INFORMATION: API Electronics Group, Tel: +1-877-274-0274