Ceapro Grants Stock Options to All Employees, Board Re-elected at AGM

EDMONTON, ALBERTA, CANADA, Sep 02 (MARKET WIRE) --
Ceapro Inc. (TSX VENTURE: CZO) today announced the granting of stock
options, effective August 30, 2008, to all employees for a total of
880,000 stock options with an exercise price of $0.12. Each grant vests
in three equal instalments: the first vests immediately and the second
and third instalments vest on the first and second anniversaries of the
date of grant. Each option is exercisable, once vested, for a period of
five years from the date of grant.

Of note, Chief Scientific Officer David Fielder and CFO Branko Jankovic
each receive 75,000 share options and director and acting CEO Gilles
Gagnon receives 150,000. The granting of all options is subject to TSX
Venture approval.

Motions carried at the Annual General and Special Board Meeting of August
27 included the re-election of Board Members Gilles Gagnon, Don
Oborowsky, Glenn Rourke, John Zupancic and Ed Taylor as Chairman. Also
approved was the motion to amend the Articles of the corporation to
permit the directors to appoint additional directors in accordance with
the provision of the Canada Business Corporations Act.

About Ceapro Inc.

Ceapro Inc. is a Canadian growth-stage biotechnology company. Primary
business activities relate to the development and commercialization of
organic products for personal care and cosmetic industries using
proprietary technology and natural, renewable resources. To learn more
about Ceapro, visit www.ceapro.com

The TSX has neither approved nor
disapproved of the information contained herein. This release may contain
forward-looking statements. Various factors could cause actual results to
differ materially from those projected in forward-looking statements.
Although the Company believes that the forward-looking statements
contained herein are reasonable, it can give no assurance that the
Company's expectations are correct. All forward-looking statements are
expressly qualified in their entirety by this cautionary statement. "The
TSX Venture Exchange does no accept responsibility for the adequacy or
accuracy of this release."

Contacts:
Ceapro Inc.
Branko Jankovic
Chief Financial Officer
(Edmonton): 780-917-8376
info@ceapro.com

Sun International Communications
Nicole Blanchard, B.Sc., B.Comm.
Managing Partner
(Montreal): 450-973-6600
nicole.blanchard@isuncomm.com

Copyright 2008, Market Wire, All rights reserved.

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