NLI Newlook Industries Corp

Newlook Industries Corp. ("Newlook" or the "Company") (TSX VENTURE:NLI)
announced that its majority-owned subsidiary Wireless Age Communications, Inc.
("Wireless Age") has received court approval to complete a settlement agreement
with its former subsidiaries, Wireless Age Communications Ltd. and Wireless
Source Distribution Ltd. Details of the agreement may be found in the Company's
press release of October 5, 2009.


Gary N. Hokkanen, Newlook CFO stated; "The completion of the Settlement
Agreement prior to December 31, 2009 will substantially improve the Company's
balance sheet by approximately $8.3 million. This is realized through the
elimination of a special loss provision liability the Company had accrued during
fiscal 2008."


John G. Simmonds, the Company's CEO added; "I am pleased that Wireless Age has
received approval for its settlement, as Newlook may now proceed with finalizing
its restructuring plans."


Newlook Industries Corp., headquartered in Toronto, Ontario is a publicly traded
company listed on the TSX Venture Exchange.


For more information please call (416) 477-5656 or refer to www.sedar.com.

The management of the company, who take full responsibility for its content,
prepared this press release. This press release contains forward-looking
statements relating to future events and results that are based on Newlook's
current expectations. These statements involve risks and uncertainties
including, without limitation, Newlook's ability to successfully develop and
market its products, consumer acceptance of such products, competitive pressures
relating to price reductions, new product introductions by third parties,
technological innovations, and overall market conditions. Consequently, actual
events and results in future periods may differ materially from those currently
expected.

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