QuestAir Closes CDN$20 Million Public Equity Offering

Vancouver, BC, May 31, 2006--QuestAir Technologies Inc. (TSX: QAR; AIM: QAR) announced that it has closed its offering of shares announced on 3 May 2006, raising gross proceeds of CDN $20,000,250 (£9,481,600).

Clarus Securities Inc. and Canaccord Capital Corporation (the “Agents”) as lead managers and joint bookrunners placed 14,815,000 common shares from treasury at a price of CDN$1.35 (£0.64) per common share. The Company has also granted the Agents an over-allotment option to purchase up to an additional 2,222,250 shares exercisable for 30 days from closing. The 14,815,000 common shares issued in connection with the offering are listed on the Toronto Stock Exchange and have been admitted to trading on the AIM market of the London Stock Exchange today.

Proceeds from this offering will be used to finance the ongoing development and commercialization of the Company’s proprietary gas purification technology, and for general working capital.

As part of the offering, four directors of QuestAir purchased shares in the Company at the offering price of CDN $1.35 per share:

- Harold Copping purchased 10,000 common shares, taking his beneficial ownership to 25,000 common shares of the Company.

- Michael Rosenberg purchased 9,333 common shares, and has a total direct and beneficial holding of the same.

- John Shakeshaft purchased 16,000 common shares and has a total holding of the same.

- Sherry Tryssenaar, also Chief Financial Officer of QuestAir, purchased 18,500 common shares and has a total holding of the same.

In addition, as part of the offering Shell Hydrogen Projects B.V. (“Shell Hydrogen”) purchased 740,800 common shares in the Company at the offering price of CDN $1.35 per share, bringing Shell Hydrogen’s total holding in QuestAir to 7,141,252 common shares.

Disclosure of the directors’ and Shell Hydrogen’s share purchases is made pursuant to the rules governing the operation of AIM as established by the London Stock Exchange Plc.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements.

About QuestAir Technologies Inc.

QuestAir Technologies, Inc. is a developer and supplier of proprietary gas purification systems for several large international markets, including existing markets such as oil refining, biogas production and natural gas processing, and emerging markets such as fuel cell power plants and fuel cell vehicle refuelling stations. The Company has joint development agreements with Exxon Mobil Research and Engineering Company and Shell Hydrogen, and a collaboration with FuelCell Energy. QuestAir is based in Burnaby, British Columbia and its shares trade on the AIM Market of the London Stock Exchange Plc. and on the Toronto Stock Exchange under the symbol “QAR”.

Contact Information:

QuestAir Technologies Inc.

Andrew Hall
Director, Corporate Development and External Communications
Phone: (001) 604-453-6967
Email: hall@questairinc.com
www.questairinc.com