VANCOUVER, BRITISH COLUMBIA--Consolidated Magna Ventures Ltd. ("Magna'', symbol CMV:CDNX) is pleased to announce that it has reached an agreement in principle ("the Agreement'') with Ultimate Technographics, Inc. ("Ultimate'') of Montreal, Quebec to co-develop the SkinnyServer(TM) software platform for the client side of the SkinnyScript(TM) workflow. The terms of the Agreement call for Magna to purchase complete OEM versions of Ultimate's proven PDF workflow applications into which Magna will incorporate its proprietary SkinnyScript(TM) technology for significantly reducing the size of graphic files, with no loss of quality. The combination of the software technologies will be offered on both Apple(TM) G4 and Windows(TM) platforms. The result will be a server-based automated Skinny PDF(TM) workflow for installation on a client's LAN. It is anticipated that the first generation of the SkinnyServer(TM) will be licensed to Publishers and Ad Agencies, however several vertical markets have been identified. Users will immediately benefit from the ability to create smaller file sizes onsite, thereby increasing throughput and productivity, while reducing costs of storage and communication and eliminating the need for couriers to transfer graphic files between publisher and prepress/printer. A prototype of the SkinnyServer(TM) will be demonstrated at the Graphics Canada 2001 Trade Show in Toronto, November 8-11, at Booth number 4002. About Ultimate Technographics, Inc. Ultimate Technographics invented digital imposition just over a decade ago with Impostrip, and today the company is one of the leading publishing & printing software component developers in the world. Ultimate has been expanding with new prepress solutions with the On-Q Server, a complete prepress workflow server for Mac or NT, with trapping, imposition and OPI in a unique client-server environment. Consolidated Magna Ventures Ltd. relies on litigation protection for statements that are not historical facts but are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from the targeted results.