Lab Research announces the signing of three new master services agreements with global companies

LAB Research Inc. ("LAB", "LAB Research" or the "Company"), (TSX: LRI), a Canadian-based global non-clinical contract research organization, today announced that it has entered into three new master services agreements with some of the most important global sponsors for each of the pharmaceutical, biotechnology and agro-chemical industries.

Following successful site audits and detailed scientific validation by each of these specific industry leaders, LAB Canada will be requested to execute research services for one of the top 3 global pharmaceutical companies as well as one of the top 3 global biotechnology Company while LAB Hungary will be providing similar services to one of the largest agro-chemical global companies located in Europe. Two of the recently signed agreements have already led to the signing of multi-million $ contracts to be executed in 2009 and 2010 and new contract are under discussions with each sponsors for execution in 2009 and 2010. LAB expects that these agreements will contribute to 5-10% of its revenues in 2009.

"We are especially proud to have entered into these new services agreements with large reputable industry leaders in their respective fields to expand our large sponsor clientele. The new agreements testify to the merit of our growth and development strategy and will play a key role in LAB reaching its future growth and development corporate objectives. The expanded capacity and services offering created from the completion of our recent expansion program combined to our every-day growing recognized scientific expertise has allowed us to position LAB Research as a mid-size and flexible full service alternative to larger Contract Research Organizations." commented Luc Mainville, President and Chief Executive Officer of LAB Research. "The strategic imperatives of our growth strategy included the broadening of our clientele and penetration of global recurrent research and development sponsors. The execution of these agreements more than validates our strategy. To date, the capital markets have penalized our stock price because of the financial leverage resulting from our expansion strategy. We are convinced that the coming quarters will demonstrate some of the commercial and financial benefits of our increased global operational leverage which will overtime more than outweigh the financial drawbacks."