Covalon Technologies Ltd. Investor Update

MISSISSAUGA, ONTARIO--(Marketwire - October 28, 2009) - Dr. Frank DiCosmo, President, CEO and Co-founder of Covalon Technologies Ltd. (TSX VENTURE: COV), cordially invites you to participate in a conference call to be held on Friday, October 30, 2009 at 11:00 a.m. (EDT). Management will discuss recently announced business developments, to be followed by a question and answer period. Participants may choose to join the conference call either by audio webcast or by telephone. You will be asked to provide the passcode set out below, and to register your individual name and company name (if applicable).

Webcast

To access the live audio webcast, please go to www.covalon.com and click the link on the Investor Relations page prior to 11:00 a.m. Windows Media Player is required to listen to the webcast. The conference call will be archived and available for replay approximately one hour after completion of the call. To listen to the replay, go to www.covalon.com and click the link on the Investor Relations page.

 Conference Call Date: Friday, October 30, 2009 Time: 11:00 a.m. Toronto Time (EDT) Local Dial-In Number: 416-340-2217 Toll Free North America: 1-866-696-5910 Passcode: 4467883 

To participate, please call a few minutes prior to the 11:00 a.m. start of the conference call.

About Covalon

Covalon Technologies Ltd. is an advanced medical products company that develops, patents and commercializes therapeutic biomaterials for wound care and surgical applications and coatings. Polymer chemistry and surface coating technology have been combined to create a range of time-release drug delivery platforms that are applied to medical devices to treat many critical conditions. A variety of applications for these technologies have been identified and specific products have been developed. The products offer features and benefits providing solutions to many of the problems caused by current devices and their material properties which are used by most medical device manufacturers and suppliers. The problems include infection, poor biocompatibility and microbial attachment.

This news release may contain forward-looking statements which reflect the Company’s current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan, “estimate”, “expect”, “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company’s ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.

ISO 13485:2003 CERTIFIED

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.