NLI Newlook Industries Corp

Newlook Industries Corp. ("Newlook") (TSX VENTURE: NLI) is pleased to announce that it has agreed to terms for the acquisition of an equity stake in Vecture Inc. ("Vecture" or the "Company"), subject to regulatory approval.

Established in 2001, Vecture is a Toronto-based, privately-held ISO9001 approved design and manufacturing electronics company. Vecture is a North American leader in providing the battery community with battery management solutions in protection, fuel gauging and charging systems. The Company is also a leading design and manufacturing company for battery management circuits in the Americas and Europe.

Vecture has run-rate revenues of approximately $10 million and EBITDA of over $1 million. Newlook has acquired a 20% equity stake in Vecture through the issuance of a $1.1M note, payable at $50,000 per month for a period of 22 months.

John G. Simmonds, Newlook CEO stated, "We are pleased to have the opportunity to acquire 20% of Vecture. We believe Newlook's value will be enhanced by bringing a high-calibre company such as Vecture into its fold, which is currently profitable with strong potential for significant further growth."

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

For more information please call (416) 833-3072 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.

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.

Contacts: Newlook Industries Corp. John G. Simmonds Chief Executive Officer (905) 833-3072 x223