On March 1, 2006, K&B and Purchaser entered into a Fifth Amendment and Assignment to Restated and Amended Purchase Agreement between Purchaser and K&B, extending the closing of Parcel A until April 24, 2006. K&B waived the extension fee set forth in the Fourth Amendment.

Purchaser may further extend the closing of Parcel A until on or before May 23, 2006, by delivering to K&B a nonrefundable, but fully applicable to the purchase price, payment of Two Hundred Thousand Dollars ($200,000.00) on or before April 21, 2006.

The closing of the acquisition is still subject to various customary closing conditions. Additionally, closing is subject to certain special conditions such as the negotiation of a definitive agreement setting forth K&B's post-closing possessory rights.

This report contains statements about the future, sometimes referred to as "forward--looking" statements. Forward-looking statements are typically identified by the use of the words "believe," "may," "should," "expect," "anticipate," "estimate," "project," "propose,""plan," "intend" and similar words and expressions. Forward--looking statements are not guarantees of completion of proposed transactions, availability of tax-free treatment, or similar matters. Forward--looking statements are subject to risks and uncertainties outside CECO's control. Actual events or results may differ materially from the forward-looking statements. For a discussion of additional contingencies and uncertainties to which information respecting future events is subject, see CECO's other SEC reports.