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  • News » Tunisia Deal and Private Placement Fri May 12 6:05:56 UTC 2006

    Calgary, Alberta – Real Time Measurements Inc. (TSX Venture Exchange: “RTY”) (“RTM”) Mr. Terry Matthews, President of RTM, announces a private placement consisting of up to 2,000,000 units at an issue price of $0.13 per unit for total proceeds of $260,000. Each unit shall consist of one common share and one­half common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share for $0.25 within 12 months of closing. The common shares and warrants will be subject to a four month hold period.

    Certain shareholders of RTM, who are insiders are selling 1,500,000 of their free­trading common shares through the facilities of the TSX Venture Exchange in order to facilitate their respective participation in the private placement. The balance of 500,000 units will be issued to unrelated parties. RTY will pay finders fees equal to 200,000 common shares at $0.13 per common share.

    RTY is also pleased to announce it has entered into an agreement with NA Solid Petroserve, of Tunisia to provide services to a number of clients in Tunisia, North Africa. This agreement calls for RTM to supply equipment and personnel to support the provision of surface readout subsurface measurement services in Tunisia, with further expansion into markets in Libya and Algeria. RTM intends to use funds from this private placement for this overseas development and management anticipates commencing overseas operations within the next three months.

    The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.

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