Carmanah Technologies Aims to "Enlighten" the Financial Community

Vancouver, British Columbia - February 04, 2002 - Carmanah Technologies
Corporation (CMH - TSX Venture Exchange), a leading provider of solar-powered, LED (light emitting diode) lighting solutions, announces that
it has entered into an agreement with Vanguard Shareholder Solutions Inc. ("Vanguard"), whereby
Vanguard will provide financial public relations services to the company.

"We felt we were at risk of being the investment community's best kept secret", states Art Aylesworth,
CEO of Carmanah. "With overwhelming interest in our technology and the momentum our company is
gaining in the international marketplace, Carmanah needs to put our story in front of investors who
appreciate high quality growth companies. We are pleased to add Vanguard to our team."

Vanguard is a full-service investor relations firm located in Vancouver, BC and is headed by Mr. Paul
Lathigee. Vanguard will design and implement a program formulated to expand Carmanah's recognition
throughout the entire financial community - targeting the financial press, newsletter, brokers, investors
and analysts.

Vanguard provides communication and investor relations services to public companies listed on the
Toronto and CDNX exchanges. Vanguard helps their clients communicate their corporate story to the
investment community and financial media.

The agreement, subject to regulatory approval, will be effective February 1, 2002 and the terms specify
payments of $6,500 per month plus expenses. The term of the agreement is 11 months, with a review to
take place after 5 months.

This release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of
1995. These statements are based on management's current expectations and
beliefs and are subject to a number of risks and uncertainties that could cause
actual results to differ materially from those described in the forward-looking
statements. These risks and uncertainties are described under the caption "Note
Regarding Forward-looking Statements" and "Key Information - Risk Factors" and
elsewhere in our Annual Report for the fiscal year ended December 31, 2001, as
filed with the U.S. Securities and Exchange Commission and which are
incorporated herein by reference. These risks and uncertainties are also
described under the caption "Risk Factors" in our Annual Information Form dated
December 31, 2001, as filed with the British Columbia Securities Commission and
which are incorporated herein by reference. We do not assume any obligation to
update the forward-looking information contained in this press release.