Newlook achieves record second quarter revenues

    TORONTO, July 7 /CNW/ - Newlook Industries Corp. (TSX Venture: NLI),
("Newlook") is pleased to announce record revenues for the second quarter of
fiscal 2008.
    Unaudited consolidated revenues for the second quarter of 2008 were
approximately $10,278,000 up from approximately $9,667,000 during the first
quarter. Retail segment revenues were approximately $5,074,000 and commercial
segment revenues were approximately $5,204,000.
    Unaudited consolidated June 2008 revenues were approximately $3,344,000,
of which $1,684,000 arose from retail operations and $1,660,000 from
commercial segment operations.
    John G. Simmonds, Newlook CEO stated; "As expected, our second quarter
revenues were higher due to the burgeoning economies of Saskatchewan and
Manitoba. We closed the original Selkirk store that was acquired last fall and
reopened in an exciting new location outside of the downtown core. We're
anticipating substantial growth from this new store and plan to invest in
renovating other locations within our portfolio shortly. Our Wireless Age
subsidiary continues to purchase its shares for cancellation. During June,
Wireless Age acquired 97,000 shares and year-to-date it has now acquired
1,029,100 common shares at an average price of approximately $0.24 per share."

    Newlook Industries Corp., headquartered in Toronto, Ontario is a publicly
traded company listed on the TSX Venture Exchange. For more information please
call (416) 477-5656 or refer to

    The management of the company, who take full responsibility for its
content, prepared this press release. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release. This press release contains forward-looking statements relating
to future events and results that are based on Newlook's current expectations.
These statements involve risks and uncertainties including, without
limitation, Newlook's ability to successfully develop and market its products,
consumer acceptance of such products, competitive pressures relating to price
reductions, new product introductions by third parties, technological
innovations, and overall market conditions. Consequently, actual events and
results in future periods may differ materially from those currently expected.

For further information:

For further information: John G. Simmonds, Chief Executive Officer,
Newlook Industries Corp, Telephone: (416) 477-5656 x301

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