GENESIS WORLDWIDE INC. ANNOUNCES APPOINTMENT OF NEW AUDITORS

VAUGHAN, ON, Feb. 10 /CNW/ - Genesis Worldwide Inc. ("Genesis" or the "Company") (TSX: GWI), a provider of 'green' structural building technology in the light steel structural products industry, is pleased to announce that it has appointed Chang G. Park, of San Diego, California, as auditors of the Corporation, following the resignation of Ernst & Young LLP ("E&Y"), which was previously announced on January 14, 2011. There were no reservations in the reports of E&Y for the Company's fiscal years ended December 31, 2008 and 2009. There were no reportable events between the Company and E&Y. The resignation of E&Y and the appointment of Chang G. Park were considered and approved by the Audit Committee and the Board of Directors of the Company.

About Genesis Worldwide Inc.

Genesis is a provider of green light steel building systems and solutions targeted at the global commercial, residential and institutional building sectors. Genesis delivers customized turnkey structural solutions including innovative light steel products, and provides software packages, industrial equipment, training programs, professional services and support ("Genesis Solution") to its customers and partners globally. Headquartered in the Greater Toronto Area in Ontario, Canada, Genesis has established a network of partners with engineering, manufacturing and distribution operations in Canada, the United States, the Middle East, Eastern Europe and Russia. For additional information about the Company, visit www.genesisworldwide.com.

Caution Regarding Forward-Looking Information

Certain statements in this press release which are not historical facts constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements") and are made pursuant to the "safe harbour" provisions of such laws. Statements related to the Company's projected revenues, earnings, growth rates, performance, business prospects and opportunities are forward-looking statements, as are any statements relating to future events, conditions or circumstances. The use of terms such as "may", "will", "should", "plan", "believes", "predict", "potential", "anticipate", "expect", "project", "target", "estimate", "continue", and similar terms are intended to assist in identification of these forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects, and opportunities.  These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect.

Readers are cautioned not to place undue reliance upon any such forward-looking statements. Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause the actual results, performance or achievements of the Company to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements.

Many factors could cause the actual results of the Company to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements, including, without limitation, those factors discussed under the heading "Risk Factors" in the Company's most recent Annual Information Form ("AIF"), a copy of which is available on SEDAR at www.sedar.com.  Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and, except required by law, the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.

SOURCE Genesis Worldwide Inc.

For further information:

Genesis Worldwide Inc.
Richard Pope         
Chief Executive Officer       
Tel: (905) 832-9286

Profil de l'entreprise

Genesis Worldwide Inc.

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