Portland, Oregon – Schmitt Industries announced today that its Annual Meeting of Shareholders of the Company will be Friday, October 6, 2006 at 3:00 p.m. local time, at the Company’s headquarters at 2765 NW Nicolai St., Portland, Oregon.

The shareholders will be asked to elect two Class 3 directors and transact such other business as may properly come before the meeting.  Shareholders of record as of the close of business on August 23, 2006 are entitled to receive notice of, to attend and to vote at the Annual Meeting of Shareholders.