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					INVESTOR UPDATE Newsletter
Issued: Tuesday, February 28, 2006

Welcome to the February issue of Carmanah's INVESTOR UPDATE newsletter. This summary publication has been created to keep you better informed about the Company's operations. To supplement this monthly e-mail, you can also visit the "What's New" section available on Carmanah's corporate web site at: www.carmanah.com/content/company/whatsnew.aspx If you have any questions, comments or suggestions about this publication or Carmanah in general, please contact Mark Komonoski, Manager of Investor Relations, toll-free: 877-255-8483 (US & Canada) or worldwide: +1 (403) 861-8384. You can also reach him at mkomonoski@carmanah.com. IN THIS ISSUE 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Carmanah Begins Trading on the Toronto Stock Exchange Oregon DOT Trials Carmanah's 24-Hour Solar Flashing Beacon for 'Stop Ahead' Warning Signs Carmanah Supplies 1800 LED Signs to Leading US Lottery Corporation US Army Orders Solar LED Spotlights and Aviation Lights for Forward-Operating Base California City Orders Additional LED Edge-Lit Signs BC Ministry Orders Solar-Powered Illumination for Canadian Highway Rest Stops Carmanah Sells LED Street Name Signs To Hurricane-Prone Florida Region Product Release: Ultra-compact R820C Solar LED Pedestrian Crosswalk Beacon Other Sales Updates Carmanah a Finalist at California’s 2005 Flex Your Power Awards Recent Media Coverage

----------------------------1. CARMANAH BEGINS TRADING ON THE TORONTO STOCK EXCHANGE February 2, 2006 - Carmanah's CEO, Art Aylesworth, and Carmanah's founder, Dr. David Green, were invited to ring in the opening bell on the first day of trading for Carmanah after graduation from the smallcap Toronto Venture Exchange. Video footage from Toronto's CP24 (operated by CityTV) is available from our web site: www.carmanah.com/content/investors/ShowMediaClipping.aspx?id=060131-3 Windows Media Player is required to view this footage, if you do not have this software installed on your computer, you can download the player for free at: www.microsoft.com/windows/windowsmedia

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Building 4, 203 Harbour Road, Victoria, BC, Canada V9A 3S2 Phone (250) 380-0052 Toll Free 1-800-665-3749 Fax (250) 380-0062 E-mail: investors@carmanah.com

2. OREGON DOT TRIALS CARMANAH'S 24-HOUR BEACON FOR 'STOP AHEAD' WARNING SIGNS The Oregon Department of Transportation (ODOT) has ordered a trial unit of Carmanah's R247 24-hour solar flashing beacon for a field trial evaluation. For this warning sign beacon application, the ODOT was looking for a technology that is MUTCD compliant and could fit onto an existing square telespar (standard square sign posts). The MUTCD (Manual on Uniform Traffic Control Devices), published by The Federal Highway Administration (FHWA), includes all the placement standards for the traffic control devices. Carmanah's R247 solar flashing beacon fit all these requirements and was therefore ordered for a trial installation. The ODOT, established in 1969, provides safe and efficient transportation to Oregon communities and develops programs for Oregon's public transportation services. More details: www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=060214-1 www.roadlights.com ----------------------------3. CARMANAH SUPPLIES 1800 LED SIGNS TO LEADING US LOTTERY CORPORATION Carmanah's LED Sign Group is pleased to report it has delivered over 1800 units of the Company's unique LED edge-lit hanging window signs to a leading US lottery company since July 2004. The signs are installed in some of the lottery corporation's over 6,000 retail outlets to promote lottery play at the consumer level. This leading lottery company chose Carmanah's signs for their distinctive eye-catching edge-lit design. Carmanah's signs are very energy efficient, require no maintenance, and take only a few minutes to install. Sampling 100 of its stores over a 52 week period, this US lottery found that the brightly-illuminated signs have proven to increase lottery sales by 4.1 per cent. The client is pleased with Carmanah's product and customer service, and continues to purchase additional signs. Carmanah's ultra-bright LED edge-lit illuminated signs have quickly become a leading international standard for unique point-of-purchase displays in the lottery industry. Carmanah's LED signs demand customer attention, attract new lottery players, encourage purchase behavior, and increase brand awareness. For more details: www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=060220-1 www.lotterysigns.com ----------------------------4. US ARMY ORDERS SOLAR LED SPOTLIGHTS AND AVIATION LIGHTS FOR FORWARDOPERATING BASE Carmanah has recently received an order from the US Army for 34 units of its GI-101 spotlights, 22 units of GI-102 spotlights, as well as an additional 390 airfield lights for obstruction, apron edge and taxiway edge applications. All of these solar-powered LED lights will be installed at a US forward-operating base in Iraq where over 800 other Carmanah aviation lights have been in use for the last 18 months. Carmanah's solar-powered, self-contained LED aviation lights have proved to be the ideal lighting solution for several US forward-operating bases in the Middle East, where there is typically no reliable electrical infrastructure or access to grid power.

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Building 4, 203 Harbour Road, Victoria, BC, Canada V9A 3S2 Phone (250) 380-0052 Toll Free 1-800-665-3749 Fax (250) 380-0062 E-mail: investors@carmanah.com

Carmanah's new GI-100 and GI-102 solar LED spotlights feature a self-contained design along with detachable luminares. They are being used by US Defense Forces to provide nighttime illumination for remote airfield signage, which has improved safety for US and Coalition Pilots at USMC, Air Force and Army forward-operating bases. The US Army alone has saved millions of dollars in up-front capital and infrastructure costs by using Carmanah's solar-powered LED lighting technology. More than 300 units of the GI-100 / GI-102 solar LED spotlight have been successfully deployed in the Middle East so far, and Carmanah has provided more than 20,000 additional airfield lights in support of portable and permanent Middle East operations. For more details: www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=060222 www.solarairportlights.com ----------------------------5. CALIFORNIA CITY ORDERS ADDITIONAL LED EDGE-LIT SIGNS Carmanah has been contracted by the City of Roseville in the state of California to supply an additional 26 units of its Model R409 LED edge-lit street-name signs. These signs will be installed at various intersections in the city’s downtown corridor. Roseville, a chartered city that was founded in 1909 that is now home to approximately 10,000 residents, attracts thousands of tourists every year to partake in their art and museum attractions. In order to maintain its visitor-friendly and family-oriented atmosphere, Roseville implemented The Downtown Roseville Visioning Project in 1999. Installation of Carmanah's LED street signs is part of this ongoing project. Carmanah also assisted in the development of the City Logo for use on the illuminated streetname signs. In addition to being attracted to the slim-look of Carmanah's LED edge-lit street signs that help contribute to the aesthetically pleasing downtown décor, it was most appealing that Carmanah's signs save on maintenance and energy costs for The Downtown Roseville Visioning Project. Roseville is also planning on a retro-fit plan to replace some of the aging fluorescent street-name signs in the city. For more details: www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=060220-4 www.roadlights.com ----------------------------6. BC MINISTRY ORDERS SOLAR-POWERED ILLUMINATION FOR CANADIAN HIGHWAY REST STOPS Carmanah has been contracted by British Columbia's Ministry of Transportation (MOT) to develop and supply solar-powered LED area lighting for four rest stops located along remote sections of the Trans Canada Highway (Highway 1) in British Columbia. This project was initiated by MOT to help encourage travelers to utilize rest stops by making them more appealing, user-friendly and safe. The two initial rest stops selected for the solar lighting installations are Silhouette located near Revelstoke, BC, and Redgrave located near Golden, BC. Both Revelstoke and Golden are located on Highway 1 along one of the most scenic mountain crossings in the province - Rogers Pass (elevation 4,534 feet/1382 m), found at the summit in Glacier National Park. Isolated sections along many highways, especially Highway 1, which involves remote and isolated stretches through the Rocky Mountains, limits grid-tie access and can make installing road and rest stop lighting a challenge. At night, rest stops are dark, with public toilet facilities set back from the road and
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Building 4, 203 Harbour Road, Victoria, BC, Canada V9A 3S2 Phone (250) 380-0052 Toll Free 1-800-665-3749 Fax (250) 380-0062 E-mail: investors@carmanah.com

typically sheltered by tall trees, making them intimidating to use for many people. With adequate lighting, the MOT is hopeful that more travelers may be inclined to use them, as opposed to using non-restroom areas. The MOT plans to install all four custom general illumination systems in January 2006. Custom designed by Carmanah to suit the isolated environments of the install locations, these general rest stop area lighting systems use LED flood light fixtures for exterior area illumination that operates from dusk to dawn. The interior lights utilize Edison-based LED fixtures on the interior and exterior toilet facility doors. The systems employ solar modules as the main power source in both the area lighting and toilet facility lighting systems. In addition, the toilet facility systems use 12VDC motion sensors for lighting activation. Due to their extremely low power requirements, LEDs and solar panels are an ideal technology combination for this application. For more details: www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=060220-2 ----------------------------7. CARMANAH SELLS LED STREET-NAME SIGNS TO HURRICANE-PRONE FLORIDA REGION Carmanah has received a preliminary order for 20 units of its R409 LED edge-lit street-name signs from Lee County in Florida. The signs will be installed at five separate intersections in Ft Myers. Lee County selected Carmanah's R409 street name signs for their slim design and even light output. The significant maintenance and energy savings associated with Carmanah's edge lit LED signs compared to fluorescent signs was an additional selling point for Lee County. Lee County has ordered single-sided, rigid mount signs that strap directly to the mast arms. This type of sign and mounting option has proven to be far more effective against forceful wind loads, such as that produced by hurricanes in the southwest Florida region, such as Hurricane Wilma. Carmanah designs LED edge-lit illuminated street name signs, which feature a rugged, slim-profile design and maintenance-free performance for 50,000 hours with no bulbs or ballasts to replace. Compared to traditional fluorescent signs and other LED illuminated signage, Carmanah's LED edge-lit signs provide greater energy savings, and are easier to install. Utilizing the most advanced LED technology, and engineered to endure the harshest conditions, Carmanah's signs offer brilliant illumination, and reliable performance. For more details: www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=060214-4 www.roadlights.com ----------------------------8. PRODUCT RELEASE: ULTRA-COMPACT R820C SOLAR LED PEDESTRIAN CROSSWALK BEACON Carmanah is pleased to announce the release of the R820C, the most compact, energy-efficient and cost-effective solar LED pedestrian crosswalk beacon in the world. The R820C builds upon the established reputation and field-proven capabilities of Carmanah's selfcontained R820 solar flashing beacon, but is smaller, lighter, more energy efficient and available at a lower cost. The R820C pedestrian crosswalk beacon improves driver awareness of pedestrians at uncontrolled crosswalks. Drawing on Carmanah's innovative new compact control module or "solar engine," the
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Building 4, 203 Harbour Road, Victoria, BC, Canada V9A 3S2 Phone (250) 380-0052 Toll Free 1-800-665-3749 Fax (250) 380-0062 E-mail: investors@carmanah.com

R820C can be mounted high above the sidewalk, out of the path of pedestrians and out of the reach of vandals. Like its predecessor, the R820C utilizes Carmanah's patented MICROSOURCE(TM) Energy Management System to automatically adjust to prevailing solar conditions for reliable year round operation under all weather conditions. With no trenching, cabling, grid power hookup, or disruption to traffic flow, the R820C installs for a fraction of the cost of traditional hardwired systems; in fact, with minimal technical expertise, the R820C can be installed in minutes onto any existing signpost. Significant long-term cost savings are also achieved by the R820C, as it requires no external grid power. Other key operational benefits included no bulbs to replace for the life of the unit, as well as no scheduled maintenance or servicing for up to 5 years, at which point only the battery pack may need exchanging. For more details: www.carmanah.com/content/investors/ShowSalesUpdate.aspx?id=060228 www.roadlights.com ----------------------------9. OTHER SALES HIGHLIGHTS
Feb 20 Feb 16 Feb 14 Feb 14 Feb 14 Carmanah's LED Edge-Lit Signs Ordered from Diamond Jo Casino in Iowa. Solar LED Flashing Beacons to be Installed at CFB Esquimalt Fire Station, British Columbia. Carmanah Receives Order for Solar LED Transit Products from the State of Washington. Carmanah LED Street Name Signs Improve Downtown Livermore, CA. Carmanah Provides LED Edge-Lit Street Signs to the City of Oakland, CA.

For full details, as well as an archive of previous sales updates, visit: www.carmanah.com/content/investors/salesupdates.aspx ----------------------------10. CARMANAH A FINALIST AT CALIFORNIA’S 2005 FLEX YOUR POWER AWARDS Flex Your Power is California's statewide energy efficiency marketing and outreach campaign. Initiated in 2001, Flex Your Power is a partnership of California's utilities, residents, businesses, institutions, government agencies and nonprofit organizations working to save energy. Flex Your Power has received national and international recognition, including an ENERGY STAR Award for excellence. The annual Flex Your Power awards recognizes outstanding achievements in energy efficiency in five categories: Best Overall, Energy Efficiency, Demand Response, Education and Leadership and Innovative Products and Services. In late 2005, Carmanah was selected as a finalist from nearly 600 candidates category of "energy efficiency technology and innovations". All finalists were recognized in congratulatory advertisements that ran in papers around the state of California during November, 2005 More details: www.carmanah.com/content/company/ShowAward.aspx?id=051113

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Building 4, 203 Harbour Road, Victoria, BC, Canada V9A 3S2 Phone (250) 380-0052 Toll Free 1-800-665-3749 Fax (250) 380-0062 E-mail: investors@carmanah.com

11. RECENT MEDIA COVERAGE
Feb 25 Feb 23 Feb 23 Feb 22 Feb 20 Feb 20 Feb 16 Feb 16 Feb 07 Feb 07 Feb 03 Feb 02 Feb 02 Feb 01 Jan 19 Jane's Airport Review - "Carmanah Lights Up Approach" Report on Business - "CEO Art Aylesworth Featured on ROBTv's Power Breakfast" Renewable Energy Access - "Silicon Shortage Drives Global Solar Mergers & Acquisitions" PROFIT Magazine - "When in Rome..." Future Airport Magazine - "LEDs Light the Way." Financial Post - " Vancouver Goes for Gold - City looks for a return beyond 2010 Olympics' costs." Infolink.com.au (Australia) - "Solar Power Lights Up the Sunshine State." Energy Services Bulletin - "Efficient Lighting Takes Off at California Airports." Victoria Times-Colonist - "Carmanah Joins the Big League... Leaping to the Toronto Stock Exchange from the TSX Venture Exchange." National Post - "Exhibition Place is Undertaking a $1-million Project to make it energy self-sufficient within four years -- and an exporter of power soon afterward." Victoria Times-Colonist - "Carmanah's 'Coming Out Party' at the Toronto Stock Exchange." BMY News - "Carmanah Partners with British Columbia Government for 'Solar For Schools' Initiative." CP24 (CityTV Toronto) - "Carmanah Graduates to the Toronto Stock Exchange" LEDs Magazine - "Carmanah Listed on TSX, Wins More Orders." Soundings Trade Only Today - "Canadian Company Takes Top Honors."

Content for these and other media clippings can be found at: www.carmanah.com/content/investors/mediaclippings.aspx

------- END OF UPDATE ------To supplement this INVESTOR UPDATE newsletter with daily news, please visit "What's New" at www.carmanah.com. Comments or questions? Do you know anyone else who should receive this or future updates? Please contact: CARMANAH TECHNOLOGIES CORPORATION TSX Venture Exchange: "CMH" Berlin and Deutsche Borse AG: "QCX" (Security Code : WKN662218) Investor Relations: Mr. Mark Komonoski Manager of Investor Relations Toll-Free (US & Canada): 1-877-255-8483 Worldwide: +1 (403) 861-8384 Fax: +1 (403) 252-5580 E-mail: investors@carmanah.com Carmanah is a fully reporting issuer in the United States. Registration Statement on form "20-F" filed with the SEC. You received Carmanah's INVESTOR UPDATE newsletter because you are a member of Carmanah's Investor Alert list. If you do not wish to receive this publication, please reply to this e-mail and ask to be taken off the list. You can also contact Mark Komonoski in Investor Relations at 1-877-255-8483 or investors@carmanah.com.
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Building 4, 203 Harbour Road, Victoria, BC, Canada V9A 3S2 Phone (250) 380-0052 Toll Free 1-800-665-3749 Fax (250) 380-0062 E-mail: investors@carmanah.com

This INVESTOR UPDATE newsletter 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 forwardlooking 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, 2004, as filed with the U.S. Securities and Exchange Commission and which are incorporated herein by reference. We do not assume any obligation to update the forward-looking information contained in this update. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this publication.

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Building 4, 203 Harbour Road, Victoria, BC, Canada V9A 3S2 Phone (250) 380-0052 Toll Free 1-800-665-3749 Fax (250) 380-0062 E-mail: investors@carmanah.com


				
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