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TSO3: Third Quarter 2005 Financial Results

November 10, 2005

Québec City, November 10, 2005 – TSO3 Inc. (TSX: TOS) announced today its financial results for the third quarter of 2005. The Company recorded a net loss of $1,400,000 or $0.04 per share, for the third quarter of 2005, compared to a net loss of $1,418,982 or also $0.04 per share for the same period in 2004.

“Our devices are undergoing a trial period in several hospitals in North America and our users express satisfaction with the utilization of our sterilizer. We estimate that this trial period will soon be over in several hospitals and that the first satisfaction reports will be received during the fourth quarter of 2005”, stated Jocelyn Vézina, CEO at TSO3 Inc. “The first firm sale of our device was recently concluded with a hospital that was not part of our referral site program. This sale was made through a call for bids. During the selection process, our device was submitted to a tough evaluation process and compared to the competition according to very precise criteria. Clearly, this sale testifies to the need in the market and the superior capacity of our technology to meet that need”.


Summary of Activities for the Quarter

• First firm sale a 125L Ozone Sterilizer in North America, which came through a request for quotation for the acquisition of a low temperature sterilizer without ethylene oxide. Ownership rights were transferred after the client completed the evaluation period and experienced satisfactory results.

• New claims increase the diversity and volume of instruments that can be processed in the TSO3 125L Ozone Sterilizer. The 125L shows increased capability to sterilize lumened surgical instruments. Lumens are the narrow internal channels, or tubes, of instruments used in minimally invasive surgical procedures.

• Private placement on a firm underwritten basis presented by Canaccord Capital Corporation for $10M, with the potential for an additional $6.25M through the exercise of the warrants over the next two years.

• Collaboration with the British government is underway with the prion testing. The 125L Ozone Sterilizer has been installed in the British Health Protection Agency laboratories and work began during the third quarter.

To view the analysis of the financial situation and the operating results, download the report for the third quarter.
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