The purchase agreement calls for a closing date of November 15, 2005 and a purchase price of $3,300,000. K&B intends to spend an additional $1.0 to $1.3 million in building improvements and office renovations.

Buckley will have the right, pursuant to a License Agreement that was entered into simultaneously with the Purchase Agreement, to occupy the property with no rent obligations for a period of up to four months following the closing on the property, and a smaller portion of the property for an additional two months, for an aggregate of six months. K&B will, however, have access to portions of the property to perform certain renovations.

The closing of the acquisition is subject to various customary closing conditions. Additionally, closing is subject to certain special conditions such as the closing by K&B of the sale of its 3120 Forrer Street, Cincinnati Ohio property.

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.