EquiTech Corporation Announces Third Quarter 2005 Results
12:05 EST Monday, November 28, 2005

EDMONTON, ALBERTA--(CCNMatthews - Nov. 28, 2005) - EquiTech Corporation (TSX VENTURE:EQT) ("EquiTech"), a specialty pharmaceutical company with proprietary technology to improve the effectiveness of oral medication, today announced unaudited financial results for the three and nine month periods ended September 30, 2005.

The Corporation had cash of $847,366 at September 30, 2005, an increase of $555,887 compared to December 31, 2004 ($291,479). This increase is attributed to $1,190,658 raised through the exercise of warrants in the nine month period ended September 30, 2005. This increase was offset by $579,984 used in operations and patent costs of $55,787 as the Corporation continues to expand its intellectual property portfolio.

The net loss for the third quarter of 2005 was $144,399 a decrease of $143,987 compared to the same period last year ($288,386). This is attributed primarily to a decrease in total research and development expenses of $136,479 as our lead ibuprofen caplet progressed through completion of its Phase II clinical trial.

The year to date net loss was $622,332, a decrease of $158,984 compared to last year ($781,316). This is attributed to a decrease of $87,750 in research and development, a decrease of $92,408 in non-cash stock based compensation expense offset by an increase in administrative and general expenses of $19,293 due to expensing in this period of previously deferred costs ($22,886) associated with financing.

The Corporation will be focused primarily on business development and partnering activities for its 200 mg strength ibuprofen caplet as well as conducting early preclinical research on a number of drug candidates to expand our product pipeline. Additional development of our lead ibuprofen caplet will not be undertaken until a suitable partnership agreement or additional financings have been finalized.

EquiTech's lead drug is ZAG-1701 an ibuprofen caplet designed to be swallowed whole with water and break apart in the stomach within minutes. A Phase II clinical trial in patients experiencing the pain of wisdom tooth removal showed that ZAG-1701 is absorbed into the blood stream significantly faster than a leading over-the-counter ibuprofen tablet and that patients reported a trend of achieving meaningful pain relief faster.

About EquiTech Corporation

EquiTech's fast-absorbing ibuprofen caplet has been developed using the Company's patent-pending absorption enhancing technology. Ibuprofen is used for the treatment of moderate acute aches and pain. The worldwide pain medication market is estimated at more than US$38 billion and is projected to reach US$75 billion by 2010.

EquiTech trades on the TSX Venture Exchange under the symbol EQT and currently has approximately 18.4 million common shares outstanding. For further information, visit www.equitechcorporation.com.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities of the corporation have not been and will not be registered under the U.S. Securities Act, 1933, as amended and subject to certain exemptions may not be offered or sold in the United States or to U.S. persons. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements, i.e. information that is not strictly historical, concerning EquiTech's business and prospects. Forward-looking statements are subject to a number of risks and uncertainties. Actual events and results may differ materially from those discussed in this press release, due to factors including research, development, commercial and market risks.

FOR FURTHER INFORMATION PLEASE CONTACT:

EquiTech Corporation James A. Chivers-Wilson President & CEO (780) 430-1633

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