Portland, Oregon - Schmitt Industries, Inc. is pleased to announce that Schmitt has been named to Deloitte’s 2006 Pacific Northwest Technology Fast 50, a ranking of the 50 fastest growing technology, media, telecommunications and life sciences companies in Washington, Oregon and Idaho by    Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations.  Deloitte & Touche,  Perkins Coie, Morgan Stanley and Armfield, Harrison & Thomas are the sponsors of this award program.

Wayne Case, President of Schmitt had the following comments:  "It is pleasing to see this recognition of Schmitt, its employees and products.  Schmitt provides world-class solutions for various difficult measurement applications in global markets for major manufacturing companies.  Schmitt provides measurements for surface roughness, distance, and measurement and correction of unbalance levels.  All these things are done to exacting high standards to save our customers time and money.  Recognition in the Deloitte 2006 Pacific Northwest Technology Fast 50 as a rapid growing firm is an honor for the Company."

To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2001 and $5,000,000 in 2005, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company’s operating revenues; or devotes a significant proportion of revenues to the research and development of technology.  Using other companies’ technology or intellectual property in a unique way does not qualify.  Rankings are based on the percentage revenue growth during the five years from 2001-2005.

The information contained in this release contains certain forward-looking statements that anticipate future trends or events.  These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks including but not limited to the uncertainties of the Company’s new product introductions, the risks of increased competition and technological change in the Company’s industry and other factors detailed in the Company’s SEC filings.  Accordingly, actual results may differ, possibly materially, from the predictions contained herein.