Catch the Wind reports fourth quarter and year-end financial results for 2008



    - Recent developments leave Company poised for breakout in 2009 -

    MANASSAS, VA, April 1 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW.S),
developer and manufacturer of the Vindicator(R) laser wind sensor (LWS) and
other sensor products, announced today its fourth quarter and year-end results
for the period ended December 31, 2008. All figures are in U.S. dollars unless
otherwise stated.
    "Since our launch in 2008, we have completed a series of significant
milestones," said Phil Rogers, President and CEO of Catch the Wind. "These
achievements, which included raising $15 million (CDN) through a private
placement and subsequent listing on the TSX Venture Exchange, strengthening of
the management team, completion of the first phase of a trial program with the
Wind Energy Institute of Canada, first commercial sale of the Vindicator(R)
LWS, launch of a field trial program with a large wind farm operator and
identification of new market opportunities with original equipment
manufacturers, effectively position us for a significant breakout in 2009."

    
    Fourth Quarter Operational Highlights

    -   Successfully completed Phase I of the Research Development and
        Demonstration Program with the Wind Energy Institute of Canada
        (WEICan). Phase I demonstrated the correlation of wind speed and
        direction data captured by the Vindicator(R) LWS with industry
        standards.
    -   Began Phase II of the Research Development and Demonstration Program
        with WEICan, which involved the first-ever mounting of a
        forward-looking wind speed and direction measurement sensor on an
        operating wind turbine.
    -   Strengthened the Company's management team with the addition of
        Claudia Jaques, Vice President and General Counsel, and Daniel
        Lacroix, Vice President of Manufacturing.

    Highlights Subsequent to Year-end

    -   First commercial sale of the Vindicator(R) LWS to AXYS Technologies,
        a leading provider of environmental data acquisition, processing and
        telemetry systems for marine and terrestrial applications.
    -   Signed an OEM distribution agreement with AXYS, granting the company
        a license to combine and integrate the Vindicator(R) LWS with custom
        AXYS salt/fresh water fixed and floating platforms. AXYS will sell
        the bundled products, which will provide wind energy assessment
        capabilities for off-shore environments, worldwide.
    -   Entered into an agreement to launch a field trial program with the
        Nebraska Public Power District that will test the capabilities of the
        Vindicator(R) LWS on Nebraska's largest wind farm, the Ainsworth Wind
        Energy Facility.
    -   Signed a consulting agreement with DNV Global Energy Concepts Inc.,
        who will be providing engineering services to integrate the
        Vindicator(R) LWS with a yaw control system of an operating turbine.
    -   Secured lines of credit from Boston Financial and Equity Corporation
        and two additional equipment lease companies to finance new equipment
        purchases.
    

    Financial Performance

    Catch the Wind is an early stage development company focused on the
commercialization of its Vindicator(R) LWS. The Company, as a result, did not
generate any revenue for the fourth quarter or for the year ended December 31,
2008.
    Catch the Wind recorded a net loss for the fourth quarter of $1.4 million
or $0.04 per share and $2.2 million or $0.08 per share for the full year 2008.
As the Company began operations in September 2008, no comparison to previous
reporting periods is possible.
    The Company's operating expenses for the fourth quarter were $1.3 million
and $2.1 million for the full year 2008. Operating expenses consisted of
salaries and benefits, general and administrative expenses as well as
professional fees associated with the development of the Company's
Vindicator(R) LWS.
    At December 31, 2008, Catch the Wind held cash and cash equivalents of
$9.1 million. The Company's total assets at the end of December 31, 2008 were
$12.6 million. Subsequent to year-end, Catch the Wind secured a line of credit
from Boston Financial and Equity Corporation and two other equipment lease
companies totaling approximately $500,000. The credit lines will be used to
finance new equipment purchases.
    Catch the Wind will file its financial statements for the year ended
December 31, 2008 and related Management's Discussion and Analysis (MD&A) with
securities regulatory authorities within applicable timelines.  Catch the
Wind's financial statements, MD&A and related documents will be available via
SEDAR as well as through the Company's website, www.catchthewindinc.com.

    Conference Call

    Catch the Wind will host a conference call on April 2, 2009 at 10:00 a.m.
(ET) to discuss its fourth quarter and year-end results.
    To access the conference call by telephone, dial 416-644-3415 or
1-800-733-7560. Please connect approximately 15 minutes prior to the beginning
of the call to ensure participation. A question and answer session for
analysts and institutional investors will follow management's presentation.
    A live audio webcast of the conference call will be available at
www.catchthewindinc.com. Please connect at least 15 minutes prior to the
conference call to ensure adequate time for any software download that may be
required to join the webcast. The webcast will be archived at the above web
site for 30 days.
    A taped rebroadcast will be available to listeners until 12 a.m. on April
9, 2009. To access the rebroadcast, please dial 416-640-1917 or 1-877-289-8525
and enter passcode 21301044, followed by the number sign.

    About Catch the Wind Ltd.

    Catch the Wind Ltd. is a high-growth technology company headquartered in
Manassas, Virginia. The company was founded in 2008 to develop and manufacture
the Vindicator(R) laser wind sensor.
    Catch the Wind serves the commercial market sector for laser based wind
sensor systems, recognized as the "gold standard" in wind measurement. The
company is focused on becoming a major contributor in making clean, renewable
wind energy more affordable and profitable. For more information, visit
www.catchthewindinc.com.

    Forward-Looking Information

    This news release includes certain forward-looking statements within the
meaning of Canadian securities laws. Forward-looking statements involve risks,
uncertainties and other factors that could cause actual results, performance,
prospects and opportunities to differ materially from those expressed in such
forward-looking statements. Forward-looking statements in this news release,
include, but are not limited to, economic performance and future plans and
objectives of Catch the Wind. Any number of important factors could cause
actual results to differ materially from these forward-looking statements as
well as future results. Although Catch the Wind believes that the assumptions
and factors used in making the forward-looking statements are reasonable,
undue reliance should not be placed on these statements, which only apply as
of the date of this news release, and no assurance can be given that such
events will occur in the disclosed timeframes or at all. Catch the Wind
disclaims any intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise.

    
    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.
    

    
                   Catch the Wind Ltd.
              (A Development Stage Company)
               Consolidated Balance Sheet
                 As at December 31, 2008


    Expressed in United States Currency          $
    ---------------------------------------------------

    Assets
    Current Assets:

      Cash and cash equivalents              9,143,767
      Accounts receivable                            -
      Inventory                                230,931
      Prepaid expenses and other assets        103,902
                                           ------------
    Total Current Assets:                    9,478,600
                                           ------------
    Equipment, net of amortization              28,140
    Intangible assets                        3,075,002
    Deposits                                     4,499
                                           ------------
                                             3,107,641
                                           ------------

                                           ------------
                                            12,586,241
                                           ------------
                                           ------------

    Liabilities and Shareholders' Equity

    Current Liabilities
      Accounts payable                         698,085
      Due to related party                     527,135
      Accrued expenses                         128,666
      Deferred revenue                         200,000
                                           ------------
    Total Liabilities                        1,553,886

    Shareholders' Equity
      Capital stock                              3,805
      Contributed surplus                   13,259,947
      Deficit                               (2,231,396)
                                           ------------
    Total Shareholders' Equity              11,032,355
                                           ------------
                                            12,586,241
                                           ------------
                                           ------------


                             Catch the Wind Ltd.
                        (A Development Stage Company)
            Consolidated Statement of Loss and Comprehensive Loss
          For the Three Months and from Inception (January 1, 2008)
                             to December 31, 2008


                        For the three months   For the period from inception
                         ended December 31,      (January 1, 2008) through
                                 2008                 December 31, 2008

    Expressed in
     United States
     Currency                      $                          $
    -------------------------------------------------------------------------

    Revenues:                          - 0 -                           - 0 -

    Expenses:
      Salaries and
       benefits                      422,383                         534,425
      General and
       administrative                600,197                       1,155,314
      Professional
       fees                          320,531                         441,377
      Interest                           138                           5,490
      Foreign currency
       loss                          100,476                          94,790
                        -----------------------------------------------------
                                   1,443,725                       2,231,396
                        -----------------------------------------------------

    Net and
     Comprehensive loss
     for the period               (1,443,725)                     (2,231,396)

    Net loss per share
     - basic and diluted               (0.04)                          (0.08)

    Weighted average
     number of shares
     outstanding
     - basic and diluted          38,046,784                      28,717,440
    





For further information:

For further information: Catch the Wind Ltd., Claudia Jaques, Vice
President and General Counsel, (703) 393-0754, cjaques@catchthewindinc.com;
The Equicom Group, Joe Racanelli, Investor Relations, (416) 815-0700 ext. 243,
jracanelli@equicomgroup.com

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