CARMANAH WINS TECHNOLOGY COMPANY OF THE YEAR" AWARD

Victoria, British Columbia -- September 23, 2002 - Carmanah Technologies Corporation (TSX VE: CMH, Berlin and Frankfurt Stock Exchanges: QCX) is pleased to announce that it was awarded VIATeC's Technology Company of the Year award on September 19th, 2002 to a sold-out awards presentation dinner. The award recognizes Carmanah's exceptional growth and productivity in the last year, as well as the Company's commitment to excellence in the field of solar-powered LED technology.

"We are truly overwhelmed to receive this award," states Mr. Chuck Francis, Carmanah's Chief Operating Officer who accepted the award. "There are a number of outstanding, world-class technology organizations on Vancouver Island, and we are proud to be recognized among them. It has been the outstanding dedication of the entire Carmanah team that has enabled the company to achieve its level of success to-date. Every staff member and all stakeholders associated with Carmanah should take pride in this award."

To qualify as a Company of the Year" award candidate, a technology company must have been in business for a minimum of three years. The organization must demonstrate excellence through innovation, increasing profitability and sound business fundamentals. Also considered are a company's commitment to the technology sector on Vancouver Island and its involvement in the community. A confidential process is used to validate key performance data.

About VIATeC

VIATeC is a not-for-profit, industry-driven organization that actively promotes and supports the advanced-technology industry on Vancouver Island. VIATeC's mandate is to facilitate the development of Vancouver Island as a global centre of excellence for advanced technology.

About Carmanah Technologies Inc.

Carmanah is an award winning alternative energy manufacturer specializing in patented, proprietary solar-powered LED lighting solutions for the marine, transit, roadway and railway markets. The company has more than 45,000 units installed in 110 countries and manufactures under ISO 9001 quality assurance standards. The shares of Carmanah Technologies Corporation (parent company) are publicly traded on the TSX Venture Exchange under the symbol "CMH" and on the Berlin and Frankfurt Stock Exchanges under the symbol "QCX". For further information, please visit www.carmanah.com.

On Behalf of the Board of Directors

Carmanah Technologies Corporation

Praveen Varshney, Director

Corporate Contact:

Mr. Praveen Varshney, Director

Tel: (604) 629-0264

Toll-Free: 1-866-629-0264

investors@carmanah.com    

Media Contact:

Mr. David Davies

Tel: (250) 382-4332

ddavies@carmanah.com    

Investor Relations Contact:

Vanguard Shareholder Solutions

Tel: (604) 608-0824

Toll-Free: 1-866-801-0777

vanguard@carmanah.com