EGN Engineering.Com Incorporated

ENGINEERING.com Incorporated (TSX VENTURE: EGN), developer of the ENGINEERING.com online resource for engineers today announced its financial results for the fourth quarter and year ended December 31, 2010.

ENGINEERING.com revenue was $1,504,846 for the fiscal year 2010, compared to revenue of $1,433,566 for the year 2009. Sales of Internet advertising rose by 89% to 730,270 in 2010 compared to $386,250 for the year ended December 31, 2009. Paid advertising impressions (excluding remnant inventory allocated to networks) across all engineering related sites grew by approximately 83% from 23,352,790 in 2009 to 42,658,118 in 2010.

Revenue across all products for the three months ended December 31, 2010 was $461,905 compared to $489,163 for the fourth quarter of 2009. The net income for the year ended December 31, 2010 totaled $78,120 and $0.00 per Common Share compared with a net loss of ($482,794) and ($0.01) for the same period a year ago.

Operating loss (EBITDA) measured as earnings before interest, taxes, amortization and stock-based compensation, was ($29,670) or $0.00 per Common Share for the fourth quarter of 2010 compared with a operating profit of $7,099 or $0.00 per Common Share for the three month period ended December 31, 2009. Operating loss for fiscal 2010 was ($261,539) or ($0.01) per Common Share compared to an operating loss of ($259,247) or ($0.01) per Common Share for fiscal 2009. The operating expenses in the latest quarter were $299,179 and for the year were $1,146,047 compared to $289,323 for the fourth quarter a year earlier and $1,193,078 for fiscal 2009.

"During 2010 the company's primary web site experienced significant growth across all user and revenue metrics," said John Hayes, President of ENGINEERING.com. "Internet advertising revenue rose by 89% to $730,270, but was offset in part by a decline in software sales."

As at December 31, 2010, the Company had a cash balance of $78,244 compared to a cash balance of $106,118 as at December 31, 2009. This cash balance is relatively small when compared to the Company's ongoing obligations as described on page 7 of the Company's Third Quarter 2010 Management Discussion & Analysis under the heading, "Present Status and Risk Factors" as filed on November 22, 2010.

About ENGINEERING.com Incorporated

ENGINEERING.com Incorporated (TSX VENTURE: EGN) is the developer-owner of the www.ENGINEERING.com Web site and business. ENGINEERING.com offers marketing and lead generation services to manufacturers, design consultants and engineering academia around the world. The ENGINEERING.com Incorporated head office is located in Mississauga, Ontario, Canada and can be reached toll-free at 1-877-997-9917, by facsimile at 905-273-6691 or through the Internet at www.ENGINEERING.com.

EBITDA

EBITDA is defined by the Company as operating income before interest expense, income taxes, amortization, stock- based compensation, asset dispositions and provision for discontinued operations. The Company has included information concerning EBITDA because it believes that EBITDA is used by certain investors as one measure of the Company's financial performance. EBITDA is not a measure of financial performance under Canadian generally accepted accounting principles and is not necessarily comparable to similarly titled measures used by other companies. EBITDA should not be construed as an alternative to operating income or to cash flows from operating activities (as determined in accordance with Canadian generally accepted accounting principles) as a measure of liquidity.

Forward-Looking Statements

This press release may contain forward-looking statements based on management's current projections, beliefs and opinions at the date of this press release. Actual results could differ materially from those anticipated in these statements. The Company's ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. ENGINEERING.com Incorporated undertakes no responsibility to update forward-looking statements if circumstances or management's projections, beliefs or opinions change.

The contents of this News Release have been reviewed and approved by the Audit Committee and the Board of Directors.

ENGINEERING.com Incorporated
Balance Sheets

(Cdn. $)
                                                  (audited)       (audited)
                                                      As at           As at
                                              Dec. 31, 2010   Dec. 31, 2009
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ASSETS
Current Assets
  Cash                                               78,244         106,118
  Accounts Receivable                               316,302         291,761
  Prepaid Expenses and Deposits                      13,895          30,391
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    Total Current Assets                            408,441         428,270

  Property and Equipment, net                        20,727          27,916
  Intangible Assets, net                            316,063         412,993
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    TOTAL ASSETS                                    745,231         869,179
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LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
-----------
Current Liabilities
  Accounts Payable and Accrued Liabilities          489,015         707,147
  Deferred Revenue                                   65,640          46,614
  Promissory Note                                        --          24,999
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    TOTAL LIABILITIES                               554,655         778,760
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SHAREHOLDERS' EQUITY
--------------------
  Share Capital                                  15,113,752      15,113,752
  Contributed Surplus                               439,996         417,959
  Deficit                                       (15,363,172)    (15,441,292)
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    TOTAL SHAREHOLDERS' EQUITY                      190,576          90,419
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    TOTAL LIABILITIES AND SHAREHOLDERS'
     EQUITY                                         745,231         869,179
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ENGINEERING.com Incorporated
Statements of Income

(Cdn. $)                 (unaudited)  (unaudited)    (audited)    (audited)
                        Three Months Three Months         Year         Year
                               Ended        Ended        Ended        Ended
                            Dec. 31,     Dec. 31,     Dec. 31,     Dec. 31,
                                2010         2009         2010         2009
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Revenue                      461,905      489,163    1,504,846    1,433,566
Cost of Sales                192,396      192,741      620,338      499,735
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GROSS PROFIT                 269,509      296,422      884,508      933,831
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Expenses
  Salaries & Benefits        131,275      135,350      536,272      535,903
  Marketing Expenses          36,576       18,803      112,932       86,905
  Development Costs           48,087       55,528      204,475      263,067
  General &
   Administrative             83,241       79,642      292,368      307,203
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                             299,179      289,323    1,146,047    1,193,078
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Operating Income/(Loss)
 before Under-noted          (29,670)       7,099     (261,539)    (259,247)
Items:
  Stock Based
   Compensation               (5,950)      (1,057)     (22,037)     (25,548)
  Amortization Expense        (3,364)     (50,106)    (119,828)    (197,999)
  Vendor Reconciliation
   Adjustment                481,524            0      481,524            0
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Net Income (Loss)            442,540      (44,063)      78,120     (482,794)

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Basic and Diluted (Loss)
 per Share                      0.01        (0.00)        0.00        (0.01)

Weighted Average Number
 of Common Shares (basic
 and diluted)             36,870,623   36,870,623   36,870,623   35,638,235
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Consolidated Statements
 of Deficit
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  Deficit, beginning of
   period                (15,805,712) (15,397,229) (15,441,292) (14,958,498)
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  Net Income (Loss)          442,540      (44,063)      78,120     (482,794)
  Deficit, end of period (15,363,172) (15,441,292) (15,363,172) (15,441,292)
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ENGINEERING.com Incorporated
Cash Flow Statements

(Cdn. $)
                         (unaudited)  (unaudited)    (audited)    (audited)
                        Three Months Three Months         Year         Year
                               Ended        Ended        Ended        Ended
                            Dec. 31,     Dec. 31,     Dec. 31,     Dec. 31,
                                2010         2009         2010         2009
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OPERATING ACTIVITIES

  Net Loss                   442,540      (44,063)      78,120     (482,794)
    ADD - Items Not
     Affecting Cash
      Stock Based
       Compensation            5,949        1,057       22,037       25,548
      Amortization             3,364       50,106      119,828      197,999
    Changes in operating
     assets and
     liabilities other
     than cash              (518,828)     (82,329)    (207,150)    (221,416)

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    CASH FROM OPERATING
     ACTIVITIES              (66,975)     (75,230)      12,834     (480,663)
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FINANCING ACTIVITIES
      Promissory Notes            --      (13,317)     (24,999)     (62,436)
      Proceeds of Share
       issuance                   --           --           --      354,744

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    CASH FROM FINANCING
     ACTIVITIES                   --      (13,317)     (24,999)     292,308
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INVESTING ACTIVITIES
  Additions to Property
   and Equipment              (1,694)      (4,905)      (8,494)     (17,515)
  Additions to
   intangible assets          (1,101)          --       (7,215)          --

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    CASH FROM INVESTING
     ACTIVITIES               (2,795)      (4,905)     (15,709)     (17,515)
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Net Increase (Decrease)
 in Cash                     (69,770)     (93,452)     (27,874)    (205,870)


CASH, beginning of
 period                      148,014      199,570      106,118      311,988
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CASH, end of period           78,244      106,118       78,244      106,118
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The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts: ENGINEERING.com, Inc. John Hayes President & CFO 905-273-9991, ext. 3280 or Toll Free: 1-877-997-9917 905-273-6691 (FAX) jhayes@engineering.com www.engineering.com