Firan Technology Group Corporation (FTG) Acquires the Printed Circuit Board Business from Action Cir

Toronto, January 31, 2007 – Firan Technology Group Corporation (“FTG”), announced today they have acquired the printed circuit board fabrication business of Action Circuits based in Van Nuys, California. Terms of the sale were not disclosed.

Under the agreement, FTG will transition the current business of Action Circuits to the FTG facility in Chatsworth, California. The companies are working closely together to ensure a smooth transition of production to ensure no disruption of deliveries to customers.

“We are excited about this agreement as the customer base is very focused on Aerospace and Defense applications and is therefore a great fit for our facility”, commented Michael Labrador, Vice President and General Manager, FTG Circuits – Chatsworth. He added, “The product mix in terms of technology levels and production lot sizes will also fit our facility well.”

Mr. Scott Alyn, President, Action Circuits and Electronic Source Company noted, “Our focus going forward is to continue to build Electronic Source Company, our full service EMS business. As a result of the 68% growth realized at ESC last year, we need to expand into a larger facility and have decided to sell our printed circuit board fabrication business to facilitate that growth. We are pleased that FTG has acquired our fabrication business and we are confident that our customers will be well taken care of for the future.”

ABOUT FIRAN TECHNOLOGY GROUP CORPORATION

FTG is an aerospace and defense electronics product and subsystem supplier to the North American marketplace. FTG has two operating units.

FTG Circuits is a manufacturer of high technology/high reliability printed circuit boards. Our customers are leaders in the aviation, defense, and high technology industries. FTG Circuits has operations in Toronto, Ontario and Chatsworth, California.

FTG Aerospace manufactures illuminated cockpit panels, keyboards and sub-assemblies for original equipment manufacturers of avionics products as well as airframe manufacturers.

The Company’s shares are traded on the Toronto Stock Exchange under the symbol FTG.

This news release contains certain forward-looking statements. Such statements are based on the current expectations of management of the Company and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Company”s industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Company. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Company and not place undue reliance on forward-looking statements.

For further information please contact:

Bradley C. Bourne,
President and CEO
Tel: (416) 299-4000 x 314
Firan Technology Group Corporation
bradbourne@ftgcorp.com

Joseph R. Ricci,
Vice President and CFO
Tel:(416) 299-4000 x 309
Firan Technology Group Corporation
joericci@ftgcorp.com

Scott Alyn,
Electronic Source Company
Tel: (818) 988-7696 x 201
www.electronic-source.com

Additional information can be found at the Company”s web site www.ftgcorp.com

Press Release #07-002