U.S. Market for LED-Based Marine Navigation Lights More Than Doubles on March 8th, 2004

Vancouver, British Columbia, Canada - Sunday, March 7, 2004 - Carmanah Technologies Corporation (TSX Venture: CMH) is pleased to announce that effective tomorrow a new U.S. Coast Guard regulation takes affect officially endorsing the use of LED (light emitting diode) lighting technology for private aids-to-navigation (PATONs). Previous regulations specified the use of tungsten-incandescent bulbs.

"This is a significant milestone for our company," states Carmanah CEO, Art Aylesworth. "The endorsement of LED solid state lighting for the marine industry is equivalent to the shift from kerosene to electricity in the last century."

The new U.S. Coast Guard regulation means, for the first time, individuals, corporations, and all levels of government will be allowed to use approved LED-based marine lighting for their marine navigation aids. In the U.S., these aids account for more than half of all aids-to-navigation registered. "LEDs are set to replace incandescent light bulbs for marine navigation in the United States and this presents an opportunity for Carmanah to do more business south of the border", states Aylesworth.

The U.S. Coast Guard has been using Carmanah's solar-powered LED lights since 1999 - making them the only LED marine navigation lights approved for use in the U.S. federal Aids-to-Navigation System. The Canadian Coast Guard also uses Carmanah's lights extensively for navigation lighting on Canada's waterways.

Compared to tungsten-incandescent bulbs, LEDs burn 20 times longer and use up to 90 percent less electricity. LEDs are also ideal for marine navigation lighting because they are durable, compact, and require no maintenance.

To find about more about Carmanah and its solar-powered LED marine lighting, please contact Mimi Drabit, Business Development Manager, Marine Division.

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 Carmanah's Annual Report for the fiscal year ended December 31, 2003, 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 Carmanah's Annual Information Form dated December 31, 2003, as filed with the British Columbia Securities Commission and which are incorporated herein by reference. Carmanah does not assume any obligation to update the forward-looking information contained in this press release.