Megawheels' Directors Resign

    TSX Venture: MWT

    CALGARY, April 9 /CNW/ - Megawheels Technologies Inc. (TSX Venture:
"MWT") announced today that its Board of Directors resigned following the
expressed intent of VIMAC Ventures LLC and other secured debt holders to
appoint a Receiver.

    Megawheels also announced the change in address of its registered office
    Peter A. Stone
    Barrister and Solicitor
    Unit B, 1923 - 5th Street S.W.
    Calgary, Alberta T2S 2B2

    Phone: 403-283-8460
    Fax: 403-283-8461

    About Megawheels

    Megawheels Technologies Inc. provides Internet based classified
advertising platforms for the automotive and real estate sectors in
partnership with media companies. Advertisers (private party, auto dealers &
real estate agents) can place their classified entries on Company supported
websites, offering comprehensive information to prospective buyers, accessible
through easy-to-use research tools and linked to traditional print
advertising. Megawheels also provides advanced reverse publishing technology,
which re-purposes online ads into ready-to-print pages for publishers. Since
1999, Megawheels has facilitated the printing of more than 2 billion printed
pages of classified advertisements.

    The TSX Venture Exchange has neither approved nor disapproved the
    contents of this news release.

    %SEDAR: 00010578E

For further information:

For further information: Chris Bulger, Megawheels Technologies Inc.,
Tel: (416) 805-1550, Email:

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