FTG experienced strong bookings across the Corporation in Q1 2008. Bookings in the quarter were up 31% from Q4 2007 and up 53% from Q3 2007. Total bookings in the quarter were more than $16M and the book-to-bill for the Corporation was 1.18:1. The book-to-bill was 1.10:1 for FTG Circuits-Toronto, 1.40:1 for FTG Circuits-Chatsworth and 1.18:1 for FTG Aerospace. Bookings were strong from existing and new customers. Total backlog of orders at the end of Q1 were $16.5 M.

Q1 2008 Results  (three months ended February 29, 2008 compared----------------  with three months ended March 2, 2007)                                                        Q1 2008     Q1 2007                                                    ------------------------Sales                                               $13,598,000  $13,911,00Earnings before: - Net R&D                 - Filtran restructuring losses                 - Income Tax (Recovery)/Expense        161,000     718,000                                                    ------------------------Less:Net R&D Investment                                     $863,000     190,000Filtran Restructuring and Losses                       $368,000           -Income Tax (Recovery) / Expense                        ($23,000)     46,000                                                    ------------------------Net (Loss) / Earnings                               ($1,047,000)   $482,000                                                    ------------------------(Loss) / Earnings per share - basic                                                 ($0.06)      $0.03 - diluted                                               ($0.06)      $0.02

The Corporation's revenue grew in Q1 2008 to $13,598,000, an increase of $1,035,000 or 8% sequentially over Q4 2007. Revenue was down $313,000 or 2% compared to the same quarter 2007. However, excluding the impact of the strengthening Canadian dollar versus the US dollar, revenue was up approximately $1.5M or 11% over the same period last year. The Canadian dollar has strengthened over 16% between February 2007 and February 2008 and 77% of FTG's sales are in US dollars. The acquisition of Filtran increased revenues by $442,000 during the final two months of the quarter. This impact is expected to grow as qualification activities are concluded and production ramps up at FTG's existing facilities.

Q1 2008 sales for the Circuits' segment were $10,569,000, an increase of $861,000 or 9% sequentially over Q4 2007. Sales were up at both facilities. For the Aerospace segment, sales in the first quarter were $3,029,000 compared to $2,855,000 in Q4, 2007, an increase of $174,000 or 6%.

FTG incurred an operating profit before R&D, Filtran related restructuring costs, Filtran integration costs and taxes in Q1 2008 of $161,000. The Filtran costs excluded are the losses incurred at Filtran before the closure of that facility as well as the restructuring costs at FTG facilities related to the transition of Filtran work to these facilities.

Net loss for the first quarter was $1,047,000 compared to net income of $482,000 in the comparable quarter in 2007. The Q1 2007 income includes $395,000 in SR&ED tax credits that were later eliminated. Impacting the Q1 2008 net loss was the one time transition, integration and restructuring costs associated with the Filtran acquisition of $368,000 and the impact of the strengthening Canadian dollar of $1,041,000. Excluding these factors, net income in Q1 2008 would have been $275,000 higher than Q1 2007.

FTG accomplished many goals in Q1 2008 that continue to improve the Corporation and position it for the future, including:

- The acquisition of the assets of Filtran Microcircuits, Inc.

- The qualification of existing FTG facilities to build the Filtran products for a number of different customers

- The award from General Dynamics Canada recognizing supplier excellence for FTG Circuits-Toronto

- 12% increase in sales within Canada compared to Q4 2007, lessening the Corporation's exposure to currency fluctuations

- Continued higher technology activity across all three sites

- Expansion of FTG-Circuits Chatsworth facility by 8,500 square feet or 35% to accommodate equipment and activity from Filtran.

As at February 29, 2008, the Corporation's primary source of liquidity included accounts receivable of $11,522,000 and inventory of $8,442,000. Net working capital at February 29, 2008 was $7,574,000.

"Our first quarter in 2008 saw significant improvement across our business. Bookings and sales were strong. Our bottom line improved dramatically from the previous quarter. We acquired Filtran and made great strides in integrating the business into FTG. Offsetting all of this is the challenge posed by the ongoing strength of the Canadian dollar," stated Mr. Brad Bourne, President and Chief Executive Officer. "To address the currency challenge we remain committed to our strategy of Operational Excellence to improve our internal performance, and to aggressively invest in R&D to improve our technological capabilities to grow the business. Based on the current strength of the Aerospace and Defense market and our backlog going into our second quarter, we anticipate continued improvement in our financial results going forward", he added.

The Company will host a live conference call on Friday, April 11, 2008 at 8:30am (EDT) to discuss the results of Q1 2008.

Anyone wishing to participate in the call should dial 416-641-6140 or 1-866-542-4265 and identify that you are calling to participate in the FTG conference call. The Chairperson is Mr. Bradley Bourne. A replay of the call will be available until April 18, 2008 and will be available on the FTG website at www.ftgcorp.com. The number to call for a rebroadcast is 416-695-5800 or 1-800-408-3053, pass code 3257684.

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.

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. 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. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

Additional information can be found at the Company's website www.ftgcorp.com.

FIRAN TECHNOLOGY GROUP CORPORATIONInterim Consolidated Balance Sheets(in thousands of dollars)(unaudited)--------------------------------------------------------------------------------------------------------------------------------------------------------                                       February 29, 2008  November 30, 2007                                       -------------------------------------ASSETSCURRENT Cash                                        $       385        $       234 Accounts receivable                              11,522             10,761 Income taxes recoverable                             78                 74 Inventories                                       8,442              7,621 Prepaid expenses                                    473                412----------------------------------------------------------------------------                                                  20,900             19,102CAPITAL ASSETS                                     8,295              7,757FUTURE INCOME TAXES                                   33                 34GOODWILL AND INTANGIBLES(Note 5)                   4,142              3,904----------------------------------------------------------------------------                                             $    33,370        $    30,797--------------------------------------------------------------------------------------------------------------------------------------------------------LIABILITIESCURRENT Bank indebtedness (Note 6)                  $     3,887        $       400 Accounts payable and accrued  liabilities                                      8,193              7,604 Current portion of long-term debt                 1,246              1,368----------------------------------------------------------------------------                                                  13,326              9,372LONG-TERM DEBT                                     5,597              5,900----------------------------------------------------------------------------                                                  18,923             15,272----------------------------------------------------------------------------CONTINGENCY (Note 13)SHAREHOLDERS' EQUITY Share capital  Common shares                                   12,681             12,681  Preferred shares                                 2,218              2,218 Contributed surplus (Note 7(c))                   7,968              7,939 Deficit                                          (7,531)            (6,484) Accumulated other comprehensive loss               (889)              (829)----------------------------------------------------------------------------                                                  14,447             15,525----------------------------------------------------------------------------                                             $    33,370        $    30,797--------------------------------------------------------------------------------------------------------------------------------------------------------See accompanying notes.FIRAN TECHNOLOGY GROUP CORPORATIONInterim Consolidated Statements of (Loss) Earnings(in thousands of dollars except per share amounts)--------------------------------------------------------------------------------------------------------------------------------------------------------                                                  Three Months Ended                                        ------------------------------------                                        February 29, 2008     March 2, 2007                                               (unaudited)       (unaudited)                                        ------------------------------------SALES                                         $    13,598       $    13,911COST OF SALES                                      10,701            10,600----------------------------------------------------------------------------                                                    2,897             3,311----------------------------------------------------------------------------EXPENSES Selling, general and administrative                2,014             1,665 Research and development costs                       863               589 Recovery of research and  development costs (Note 8)                            -              (399) Amortization of capital assets                       700               790 Interest expense on long-term debt                   139               138 Interest expense on short-term debt                   43                 - Restructuring costs (Note 9)                         208                 -----------------------------------------------------------------------------                                                    3,967             2,783----------------------------------------------------------------------------(LOSS) EARNINGS BEFORE INCOME TAXES                (1,070)              528INCOME TAXES (RECOVERY) (Note 10)                     (23)               46----------------------------------------------------------------------------NET (LOSS) EARNINGS                           $    (1,047)      $       482--------------------------------------------------------------------------------------------------------------------------------------------------------NET (LOSS) EARNINGS PER SHARE Basic (Note 7(b))                            $     (0.06)      $      0.03 Diluted (Note 7(b))                          $     (0.06)      $      0.02-------------------------------------------------------------------------------------------------------------------------------------------------------- See accompanying notes.FIRAN TECHNOLOGY GROUP CORPORATIONInterim Consolidated Statements of Shareholders' Equity(in thousands of dollars) (unaudited)--------------------------------------------------------------------------------------------------------------------------------------------------------                                    Common  Preferred     Total Contributed                                    Shares     Shares   Capital     Surplus                                 -------------------------------------------                                 -------------------------------------------Balance, November 30, 2007        $ 12,681    $ 2,218  $ 14,899     $ 7,939                                 ------------------------------------------- Net lossOther comprehensive loss: Foreign currency  translation adjustments  (Note 14)Comprehensive lossStock based compensation                                                 29                                 -------------------------------------------Balance, February 29, 2008        $ 12,681    $ 2,218  $ 14,899     $ 7,968                                 -------------------------------------------                                 -------------------------------------------                                              Accum-                                              ulated                                               Other                                             Compre-      Total       Total                                             hensive    Deficit      Share-                                                Loss        and    holders'                                  Deficit    ("AOCL")      AOCL      Equity                                 -------------------------------------------                                 -------------------------------------------Balance, November 30, 2007       $ (6,484) $    (829) $  (7,313)   $ 15,525                                 ------------------------------------------- Net loss                          (1,047)         -     (1,047)     (1,047)Other comprehensive loss: Foreign currency  translation adjustments  (Note 14)                             -        (60)       (60)        (60)                                 -------------------------------------------Comprehensive loss                 (1,047)       (60)    (1,107)     (1,107)                                 -------------------------------------------Stock based compensation                -          -          -          29                                 -------------------------------------------Balance, February 29, 2008       $ (7,531) $    (889) $  (8,420)   $ 14,447                                 -------------------------------------------                                 -----------------------------------------------------------------------------------------------------------------------                                    Common  Preferred     Total Contributed                                    Shares     Shares   Capital     Surplus                                 -------------------------------------------                                 -------------------------------------------Balance, November 30, 2006        $ 12,681    $ 2,218  $ 14,899     $ 7,804                                 ------------------------------------------- Net earningsOther comprehensive income: Foreign currency  translation adjustments  (Note 14)Comprehensive incomeStock based compensation                                                 47                                 -------------------------------------------Balance, March 2, 2007            $ 12,681    $ 2,218  $ 14,899     $ 7,851                                 -------------------------------------------                                 -------------------------------------------                                                          Total       Total                                                        Deficit      Share-                                                            and    holders'                                  Deficit       AOCL       AOCL      Equity                                 -------------------------------------------                                 -------------------------------------------Balance, November 30, 2006         $ (653) $       1  $    (652)   $ 22,051 Net earnings                         482          -        482         482Other comprehensive income:Foreign currency translation adjustments (Note 14)                              -         (9)        (9)         (9)                                 -------------------------------------------Comprehensive income                  482         (9)       473         473                                 -------------------------------------------Stock based compensation                -          -          -          47                                 -------------------------------------------Balance, March 2, 2007             $ (171) $      (8) $    (179)   $ 22,571                                 -------------------------------------------                                 -------------------------------------------See accompanying notes.FIRAN TECHNOLOGY GROUP CORPORATIONInterim Consolidated Statements of Cash Flows(in thousands of dollars)--------------------------------------------------------------------------------------------------------------------------------------------------------                                                         Three Months Ended                                           ---------------------------------                                           February 29, 2008  March 2, 2007                                                  (unaudited)    (unaudited)                                           ---------------------------------NET (OUTFLOW) INFLOW OF CASH RELATED TO THE FOLLOWING ACTIVITIES: OPERATING  Net (loss) earnings                      $          (1,047) $         482  Items not affecting cash   Stock based compensation expense                       29             47   Future income taxes                                     -              3   Recovery of research and    development costs (Note 8)                             -           (395)   Effect of exchange rates on U.S.    dollar Canadian debt                                 (57)            63   Amortization of capital assets                        700            790----------------------------------------------------------------------------                                                        (375)           990  Changes in non-cash operating   working capital                                    (1,085)        (1,112)----------------------------------------------------------------------------                                                      (1,460)          (122)---------------------------------------------------------------------------- INVESTING  Acquisition of Filtran   Microcircuits Inc. (Note 4)                        (1,462)             -  Additions to capital assets                           (101)          (860)----------------------------------------------------------------------------                                                      (1,563)          (860)---------------------------------------------------------------------------- FINANCING  Increase in bank indebtedness                        3,493              -  Repayments of long-term debt                          (318)          (266)----------------------------------------------------------------------------                                                       3,175           (266)---------------------------------------------------------------------------- Effects of foreign exchange rate  changes on cash flow                                    (1)           (27)----------------------------------------------------------------------------NET CASH FLOW                                            151         (1,275)CASH, BEGINNING OF PERIOD                                234          2,348----------------------------------------------------------------------------CASH, END OF PERIOD                        $             385  $       1,073--------------------------------------------------------------------------------------------------------------------------------------------------------DISCLOSURE OF CASH PAYMENTS Payments for interest                     $             179  $         138 Payments for income taxes                 $               2  $           -See accompanying notes.

FIRAN TECHNOLOGY GROUP CORPORATION

Notes to the Interim Consolidated Financial Statements

(in thousands of dollars except per share amounts)

4. ACQUISITION OF FILTRAN MICROCIRCUITS INC. ("FILTRAN")

On December 28, 2007, the Corporation acquired substantially all of the assets of Filtran Microcircuits Inc. ("Filtran"), a Canadian printed circuit board manufacturer based in Ottawa, Ontario and focused primarily on the manufacture of microwave printed circuit boards for high frequency applications.

The transaction was effected pursuant to an asset purchase agreement entered into between the Corporation, Filtran and Filtran's parent company, Merrimac Industries Inc. ("Merrimac"). The total consideration payable by the Corporation was $1,450 in cash plus the assumption of liabilities. The Corporation paid $800 of the purchase price at closing with the balance payable 49 calendar days after closing. The Corporation financed the acquisition from existing cash and its bank operating line.

The preliminary allocation of the purchase price to the fair values of assets and liabilities acquired was made using the purchase method of accounting and are as follows:

Accounts receivable                                                 $   384Inventories                                                             321Prepaid expenses                                                          6Capital assets (machinery & equipment)                                1,160Accounts payable and accrued liabilities                               (687)Goodwill and intangible assets                                          278----------------------------------------------------------------------------Purchase price including acquisition expenses of$59 and net of cash acquired of $47                                 $ 1,462--------------------------------------------------------------------------------------------------------------------------------------------------------

5. GOODWILL AND INTANGIBLES

Goodwill results from the Circuit World Corporation and FTG Inc. combination in fiscal 2003 of $1,039 and $2,865 from the acquisition of FTG Circuits - Chatsworth in fiscal 2005. $278 of goodwill and intangibles results from the fiscal 2008 acquisition of Filtran Microcircuits Inc. FTG Circuits - Chatsworth is a considered self-sustaining subsidiary; accordingly its goodwill is translated at exchange rates in effect at the balance sheet date. The resulting loss of $40 on the translation of the goodwill is included in the accumulated other comprehensive loss section of shareholders' equity.

6. BANK INDEBTEDNESS

The US subsidiary utilized $400 US of the revolving facility at February 29, 2008 ($400 US at November 30, 2007) and $3,493 (nil at November 30, 2007) was utilized by the Canadian parent to finance the purchase of Filtran Microcircuits Inc. and general working capital purposes. The revolving credit facility is secured by a first charge on all of the property and assets of the Corporation. During the quarter, the Corporation's primary lender increased the capital expenditure facility by $2,000 US.

The Corporation is in compliance with all of its bank covenants as at February 28, 2008.

8. RESEARCH AND DEVELOPMENT COSTS AND RECOVERIES

Research and development costs include the cost of direct labour, materials and an allocation of overhead. Generally, these costs represent specific activities regarding the technical uncertainty of production processes and exotic materials. In 2007, recovery of research and development costs represented $395 of non-refundable Scientific Research and Experimental Development ("SR&ED") tax credit claims which could be used to reduce future taxable income and $4 from the Ontario government Industrial Research Assistance Program ("IRAP"). During the first quarter of 2008, the Corporation earned additional SR&ED tax credits of $745 which were not recorded as recoveries.

9. RESTRUCTURING COSTS

The Corporation recorded and paid $208 in restructuring costs in the first quarter of 2008 for costs associated with integrating and closing the Filtran facility.

10. INCOME TAXES

The Corporation accounts for income taxes under the liability method. Under the liability method, a future tax asset would be recorded only to the extent that based on available evidence; it is more likely than not that a future tax asset would be realized. The valuation allowance is reviewed and adjusted for each reporting period. Should management estimates of taxable income change in future periods, it may be necessary to adjust the valuation allowance, which could affect the results of operations in the period such a determination was made.

The income tax expense for the first quarter of 2008 consists of a U.S. subsidiary current tax recovery of $23 at a 45.4% income tax rate. There is no current recovery recorded for the Canadian operation. This compares to a first quarter 2007 Canadian operation provision of $3 at a 34% income tax rate and a U.S subsidiary provision of $43 at a 45.4% income tax rate.

15. SEGMENTED INFORMATION

The Corporation operates in two operating segments, FTG Circuits and FTG Aerospace. FTG Circuits is a leading manufacturer of high technology/high reliability printed circuit boards within the North American marketplace. FTG Aerospace is a manufacturer of illuminated cockpit panels, keyboards, bezels and sub assemblies for original equipment manufacturers of avionic products and airframe manufacturers. FTG Circuits and FTG Aerospace financial information is shown below:

                                          Period ended February 29, 2008                                    ----------------------------------------                                                        Corporate                                    Circuits  Aerospace    Office     Total                                    ----------------------------------------Sales                               $ 10,569    $ 3,029       $ -  $ 13,598Costs and SG&A expenses                9,396      2,729       590    12,715Amortization of capital assets           659         41         -       700Research and development costs           788         75         -       863Recovery of research and development costs                         -          -         -         -Restructuring costs                      208          -         -       208                                    ----------------------------------------(Loss) earnings before interest and taxes                                  (482)       184      (590)     (888)Interest expense                         182          -         -       182Income taxes (recovery)                  (23)         -         -       (23)                                    ----------------------------------------Net (loss) earnings                     (641)       184      (590)   (1,047)                                    ----------------------------------------                                    ----------------------------------------Segment assets                        25,653      7,717         -    33,370Goodwill and intangibles               4,142          -         -     4,142Additions to capital assets              101          -         -       101                                            Period ended March 2, 2007                                    ----------------------------------------                                                        Corporate                                    Circuits  Aerospace    Office     Total                                    ----------------------------------------Sales                               $ 10,882    $ 3,029       $ -  $ 13,911Costs and SG&A expenses                9,148      2,653       464    12,265Amortization of capital assets           728         62         -       790Research and development costs           576         13         -       589Recovery of research and development costs                      (395)        (4)        -      (399)                                    ----------------------------------------Earnings before interest and taxes       825        305      (464)      666Interest expense                         138          -         -       138Income taxes (recovery)                  (22)        68         -        46                                    ----------------------------------------Net earnings (loss)                      709        237      (464)      482                                    ----------------------------------------                                    ----------------------------------------Segment assets                        30,067      7,524         -    37,591Goodwill                               4,549          -         -     4,549Additions to capital assets              720        140         -       860Geographic location(in thousands of dollars)                       February 29, 2008                                    ----------------------------------------                                              United                                     Canada   States   Asia Europe    Total                                    ----------------------------------------                                    ----------------------------------------Sales (by location of customer)     $ 2,268 $ 10,408  $ 740  $ 182 $ 13,598Goodwill and intangibles (by location of division)                1,317    2,825      -      -    4,142Capital assets (by location of division)                         6,698    1,597      -      -    8,295                                                  March 2, 2007                                    ----------------------------------------                                              United                                     Canada   States   Asia Europe    Total                                    ----------------------------------------                                    ----------------------------------------Sales (by location of customer)     $ 2,179 $ 11,462   $ 84  $ 186 $ 13,911Goodwill (by location of division)    1,039    3,510      -      -    4,549Capital assets (by location of division)                          5,497    1,592      -      -    7,089