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Delphax Appoints Grant Thornton LLP as Independent Auditors

Wednesday, September 29, 2004

Press release from the issuing company

MINNEAPOLIS, Sept. 28 -- Delphax Technologies Inc. today announced that it has engaged Grant Thornton LLP as its new independent auditors. Grant Thornton, a firm dedicated to serving the needs of middle-market companies, replaces Ernst & Young LLP. The company initiated the selection process in early August. "Our audit committee was impressed with Grant Thornton's reputation for servicing publicly held manufacturing clients in our general size range and its track record for working with entrepreneurial companies seeking to expand their markets on the strength of superior technology," said Jay Herman, chairman and chief executive officer of Delphax Technologies. "We look forward to a long relationship." The change in auditors was not related to any disagreements or issues with Ernst & Young. As previously disclosed, Ernst & Young resigned as the independent public accountants for Delphax on August 31, 2004.




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