Ottawa, Canada, May 23, 2007 – Tarquin Group Inc. (TSX VENTURE: TQN), a diversified industrial technology company, today announced that it has closed its acquisition of Dipix Technologies Inc. (“Dipix”). Dipix is the world leader in the design and implementation of automated inspection solutions for processed foods, including baked goods, snacks, confections, tortillas, cookies and biscuits. It currently supports over 200 product installations with customers such as McDonald's, Mission Foods, Nabisco, Sara Lee, and many others.

“We are pleased to add Dipix to our growing family of successful laser applications and test companies,” said Don Gibbs, CEO of Tarquin Group. “The company is a true market leader and we look forward to helping it achieve its growth plans.”

The acquisition has been completed by way of an amalgamation between Dipix and a newly formed wholly-owned subsidiary of Tarquin. Under the terms of the agreement, Tarquin issued 579,866 common shares and 144,966 warrants to the shareholders of Dipix. The warrants are exercisable to purchase common shares of Tarquin at a price of $0.50 and expire on May 22, 2009. All shares and warrants issued to Dipix shareholders are subject to a four-month hold period and will be held in escrow for a period of up to 12 months, with one-third being released every four months.

Also in connection with the acquisition, Dipix’s outstanding debt has been restructured, including a cash payment of $584,000 to creditors and the issuance by Tarquin of 302,722 common shares and 75,682 warrants based on a price of $0.50 per share to settle an aggregate of $151,360.91 in Dipix debt. Tarquin has also guaranteed the remaining debt of Dipix. The warrants issued to Dipix creditors have the same terms as the warrants issuable to Dipix shareholders in connection with the acquisition and expire on May 22, 2009. All shares and warrants issued to Dipix creditors are subject to a four-month hold period.

Don Gibbs, CEO of Tarquin Group, becomes Chairman and acting CEO of Dipix in addition to his ongoing role with the Tarquin Group. Paul Pearl will move into the position of Executive Vice President Business Development of Tarquin Group to provide assistance in merger and acquisition activities. John Lawrence will assume the position of President and COO of Dipix. Laura Dierker joins the company as Director of Marketing and Geoff Evans becomes Director of Sales.

Combining its unique knowledge of machine vision, image analysis and material handling, Dipix fills an important role between the end of the manufacturing line and the beginning of the packaging line. Its systems ensure that every food product is identified, analyzed, and, if necessary, individually removed from the product stream. Full quality inspection includes 3D shape, orientation and product colour for full quality overview of baked goods including breads, buns, muffins, tortillas, and cookies. Information is used to manage inputs into the bakery line, adjust line processes, avoid waste, and ensure a high revenue stream from bakery lines.

“Since 1992 Dipix has independently built a strong technology and customer base and we are now eager to work with Tarquin to accelerate the growth of the company in key markets,” said Dipix President and COO John Lawrence. “We look forward to being part of a larger, successful organization that is focused on building wealth for its shareholders.”

This announcement follows Dipix’s recent announcement of a $1.2M US sale of inspection systems to Tyson Mexican Original, a leading manufacturer of tortillas.

About Tarquin Group
Tarquin Group Inc. (TSX VENTURE: TQN) is a diversified industrial technology company providing solutions to the global manufacturing market. Acting strategically in desirable niche markets worldwide, it is expected that Tarquin's structure and processes will ensure superior product solutions for customers while driving profitable growth for all its stakeholders. Tarquin's target companies are niche market leaders in the fields of laser applications and test, measure and control solutions for manufacturing. For more information, visit www.tarquingroup.com.

About Dipix
Dipix Technologies Inc. is the world leader in delivery of automated inspection and quality analysis systems for the on-line inspection of manufactured food products. The company integrates leading-edge optical inspection with mechanical handling and management reporting to deliver the industry’s best vision-based quality inspection systems. Dipix systems are used by leading manufactured food companies to reduce operating costs, pinpoint process errors, reduce variability, and increase the volume of in-spec delivered goods. Dipix has over 200 installations in high-volume manufacturers of processed foods – including many major international corporations. The company was founded in 1992 and is headquartered in Ottawa, Canada. For more information, visit www.dipix.com.

Forward-looking Statements
This news release contains forward-looking information. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. These forward-looking statements are made as of the date hereof and Tarquin Group Inc. does not assume any obligation to update or revise them to reflect new events or circumstances.

The TSX-Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Media please contact:
Heather McCulligh
613-797-8949
heather@hbsmarketing.com

Dipix corporate:
Laura Dierker
613-596-4942. ext. 107
ldierker@dipix.com

Investor relations:
Tarquin Group Inc.
Donald Gibbs, CEO
609-234-6010