MCO Capital Inc.'s Results for the Fiscal Year Ended October 31, 2008

    MONTREAL, Feb. 23 /CNW Telbec/ - MCO CAPITAL INC. ("MCO" or "the
Company"; ticker symbol MCO.H/NEX) did not record any revenues during both
fiscal years ended October 31, 2008 and 2007. During fiscal 2008, it incurred
operating expenses of $61,649 compared with $56,071 the previous year,
consisting almost exclusively of professional fees. Therefore, the Company
closed fiscal 2008 with a net loss of $61,649 or $0.01 per share, compared
with a net loss of $56,071 or $0.01 per share in 2007. The share capital
remained unchanged, being 4,233,689 Class B shares issued and outstanding. The
net loss during fiscal 2008 increased the cumulated deficit to $132,918 as at
October 31, 2008, compared with $71,269 a year earlier.
    During fiscal 2008, operating activities used net cash flows of $50,052
(compared with a use of $69,144 the prior year). The use of funds during
fiscal 2008 is attributable to the year's net loss, net of a favourable
variation of $11,597 in non-cash working capital items attributable to the
receipt of sales taxes during the year. In regards to financing activities,
MCO contracted new interest-free advances totaling $40,000 with the
shareholder company, spread between four quarterly $10,000 advances. As a
result of the various cash flows of the year, the Company's cash decreased by
a net amount of $10,052 to stand at $2,963 as at October 31, 2008, compared
with $13,015 on October 31, 2007.
    At the end of fiscal 2008, total assets stood at $6,290 compared with
$28,939 on October 31, 2007, and consisted of cash and taxes receivable. Total
liabilities, in the amount $138,000 consisted of interest-free advances of
$120,000 from the shareholder company, the $18,00 balance consisting of
creditors and fees payable. Shareholders' equity showed a deficit of $131,710,
compared with a deficit of $70,061 a year earlier.
    The Company expects that its current capital resources will be sufficient
to honour its liabilities as at October 31, 2008. However, it will require
additional financing or internally generated cash flow to fund its continuing
operations. Such funding may come from additional equity financing, whether by
way of private placement or through a strategic alliance or from other
sources. The outcome of these matters cannot be predicted at this time. Board
members and officers are currently considering various alternatives in regards
to the Company's future.
    Board members and officers are still considering various alternatives in
regards to the Company's future.

For further information:

For further information: Philippe Marleau, President, MCO Capital Inc.,
(514) 397-0188

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