All in West! Capital Corporation releases 2008 year end results



    WINNIPEG, April 24 /CNW/ - Today All in West! Capital Corporation (the
"Corporation" or "AIW!") (TSX-V: ALW) issued its financial results for the
year ended December 31, 2008.

    
    Highlights
    ----------
    The following summarizes key highlights for the year ended December 31,
    2008:

    -   First full year of operations for the entire portfolio
    -   Revenues increased by 83% from $3,840,538 in 2007 to $7,045,480 in
        2008
    -   Hotel Property income increased by 81% from $1,970,010 in 2007 to
        $3,570,338 in 2008
    -   Funds from Operations increased 196% from $303,368 in 2007 to
        $899,316 in 2008
    -   Number of shares outstanding decreased by 565,999 from 17,832,880 to
        17,266,881

    Results of Operations
    ---------------------

                                Three        Three
                               Months       Months
                                Ended        Ended   Year Ended   Year Ended
                             December     December     December     December
                             31, 2008     31, 2007     31, 2008     31, 2007
    -------------------------------------------------------------------------
    Hotel revenues          1,360,641    1,602,534    7,045,480    3,840,538

    Cost of Sales and
     Property Expenses      1,187,262    1,264,185    5,007,863    2,582,286
    -------------------------------------------------------------------------
    Income from hotel
     operations               173,379      338,349    2,037,617    1,258,252
    -------------------------------------------------------------------------
    Net corporate expenses    536,456      822,644    2,671,022    1,666,642
    -------------------------------------------------------------------------
    Loss for the period      (363,077)    (484,295)    (633,405)    (408,390)
    -------------------------------------------------------------------------
    Basic and Diluted
     loss per share             (0.02)       (0.03)       (0.04)       (0.03)
    -------------------------------------------------------------------------
    Funds from operations
     - basic and diluted       20,416     (101,947)     899,316      303,368
    -------------------------------------------------------------------------
    Basic and Diluted
     FFO per share               0.00        (0.01)        0.05         0.02
    -------------------------------------------------------------------------
    

    Management is focused on successfully steering through the current global
economic crisis. It has worked diligently to reduce costs and streamline its
operations. For 2008, Management voluntarily reduced its asset management fee
by 75%, saving the Corporation $187,500. Management has permanently foregone
this amount as a prudent measure to increase the Corporation's cash reserves
during this time of economic uncertainty. As at December 31, 2008 the
Corporation has cash and cash equivalents of $651,878 as well as undrawn lines
of credit in the amount of $325,000.

    Cautionary Statements

    This press release contains non-gaap financial measures, comments and
highlights that should be read in conjunction with the consolidated financial
statements and management's discussion and analysis for the same period. These
documents are available on the SEDAR website at www.sedar.com.

    This press release contains forward-looking statements. For this purpose,
any statements contained herein that are not statements of historical fact may
be deemed to be forward-looking statements. Without limiting the foregoing,
the words "expects", "anticipates", "intends", "estimates", "projects", and
similar expressions are intended to identify forward-looking statements. All
forward-looking statements contained herein are expressly qualified by this
cautionary statement.

    
    The TSX Venture Exchange has not reviewed or approved the contents of
    this press release.
    





For further information:

For further information: Mr. Cornelius Martens, President and Chief
Executive Officer, or Cornelius William Martens, Investor Relations, Tel:
(204) 947-1200

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ALL IN WEST! CAPITAL CORPORATION

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