Thomas Equipment in Pact with Singapore Technologies' GJK Unit to Produce Skid Steer Loaders

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Petter Etholm, CEO of Thomas Equipment, announced an agreement in principle for Thomas Skid Steer Loaders to be produced by Singapore Technologies Engineering's Guizhou Jonyang Kinetics (GJK) subsidiary. He said GJK also to distribute Thomas products in China.

At Thomas Equipment we strive to produce the best quality skid steer loaders in the industry. Thomas' new manufacturing alignment further enhances our capability to offer customers the best in quality of product and service in the business.

Thomas Equipment Inc. , a company of Osiris Corporation (OSRS), announced that it entered into an agreement in principle for the production of Thomas Skid Steer Loaders with Singapore Technologies (ST) Engineering's Guizhou Jonyang Kinetics (GJK) subsidiary.

Petter Etholm, President and Chief Executive Officer of Thomas Equipment and Osiris, said, "Thomas is proud to align with a world-class manufacturer's of excavators and other heavy equipment for construction, agricultural and other industries and sees this as a major step in assuring that Thomas Skid Steer Loaders will continue to represent the best in engineering and performance."

Etholm added, "Thomas also signed a Letter of Intent for GJK to distribute Thomas Skid Steer Loaders in its markets, most notably China."

The Thomas Equipment CEO said, "The vast resources and product expertise at ST Engineering, a global company, and its GJK subsidiary, will provide Thomas with major support to bring our customers skid steer loaders that represent both value and quality. Thomas will be in an even stronger position to support its customers in every way in the highly competitive international skid steer market."

Thomas Equipment, celebrating its 65th year in business, will supervise all phases of production and quality control, added Etholm. Thomas Skid Steer Loaders produced by GJK are expected to begin shipping early next year, with shipments increasing throughout the year, augmenting production in Canada, which will phase out late next year.

Etholm said Thomas Equipment's marketing, sales, quality control and related staff in Centerville, New Brunswick, Canada, will spearhead all Thomas activities and oversee production.

Thomas Equipment is online at http://www.thomasloaders.com, with information about all models of Thomas Skid Steer Loaders. Each Thomas Skid Steer Loader has a bright yellow cab and Polar Bear Thomas logo that have represented excellence for the two-thirds of a century that Thomas has been providing top quality products to its customers.

Gilbert Bedard, Vice President of Sales at Thomas, said, "At Thomas Equipment we strive to produce the best quality skid steer loaders in the industry. Thomas' new manufacturing alignment further enhances our capability to offer customers the best in quality of product and service in the business."

Bedard added, "Thomas Skid Steer Loaders are marketed worldwide with strong presence in North America and Europe. We are pleased GJK will open avenues for Thomas to grow in the expanding China market, where massive construction and other projects are underway, calling for the best in heavy equipment and service."

ST Engineering, based in Singapore, is a global company and parent to GJK, which is located in China. GJK is also partially owned by the Peoples Republic of China, and is strongly positioned in that market.

Osiris Inc. (OSRS), online at http://www.osiriscorp.net, is a global holding company based in New York, Boston and Omaha, and is dedicated to building business in the industrial, agricultural and related business sectors. Osiris' operating subsidiaries are located in North America (Canada), Europe, and Asia. Subsidiaries of Osiris consist of Thomas Equipment Inc. and its units, which provide branded and other products to the industrial markets; Thomas Equipment Asia Co. Ltd.; Thomas Ventures, Inc., Pneutech, Inc. and TcomT Inc. Osiris' units manufacture and market industrial and construction equipment, distribute pneumatic and hydraulic systems and design wireless devices for the telecommunications industry, among other activities.

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Under the Private Securities Litigation Act of 1995 - This press release discusses forward-looking statements with risks and uncertainties. OSRS results could differ materially due to various factors, including inability to finance operations or expansion and hire or retain personnel, economy and interest rate changes, and events such as terrorism. OSRS believes statements to be reasonable, but neither OSRS nor any other person can represent they will be achieved. OSRS is not obligated to update statements due to new information, events or otherwise. Please see the risk factors associated with our Company and review our SEC filings.

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BRIAN DOBSON
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