Newlook announces new President and Directors

    TORONTO, July 3 /CNW/ - Newlook Industries Corp. (TSX Venture Exchange:
NLI), ("Newlook" or the "Company") has appointed Jason R. Moretto as President
and Chief Operating Officer, and has named Roland P. Austrup and Adam W. Sykes
to its Board of Directors. The appointments are anticipated to increase the
Board's independence and augment the depth of management. The appointments are
subject to regulatory approval.
    Mr. Moretto, who is currently a Director with the Company, will assume
his new role effective immediately. Having garnered extensive experience
serving in senior executive roles and as a director for several Canadian and
U.S. public companies, as well as having worked in investment banking and
accounting, he will focus on evaluating capital investment and acquisition
programs to benefit Newlook as it executes its growth strategy going forward.
Mr. Moretto has a Bachelor of Commerce degree from the University of Toronto,
and is a Certified General Accountant and Chartered Financial Analyst.
    Roland P. Austrup, President and Chief Executive Officer of Integrated
Managed Futures Corp. (IMFC), has been appointed to the Newlook Board. IMFC is
the managed futures division of Integrated Asset Management, an alternative
asset management company with approximately $3.6 billion in assets under
management. Mr. Austrup has an extensive background in investment management,
and currently serves as an advisory board member for the Centre for Advanced
Studies in Finance at the University of Waterloo, which provides the focus for
financial research and education at the University and co-ordinates its
Collaborative Master's Program in Finance. Mr. Austrup is a member of the
National Futures Association, Managed Funds Association and has a Bachelor of
Arts (Honours) from the University of Western Ontario.
    Also joining the Newlook Board is Adam W. Sykes, President of aka
Communications Associates ("aka"), a Toronto-based communications firm
specializing in niche marketing, branding and strategic planning solutions.
Founded by Mr. Sykes in 1993, aka has built a practice that has focused on a
clientele base in real estate development, building materials, financial
services and gaming, as well as other industries. In addition to marketing and
branding, aka also provides a corporate communications and public relations
    "Newlook's management welcomes the recent additions to our team," said
John G. Simmonds, Chief Executive Officer. "These individuals bring deep
experience from their various respective fields that are very complementary to
the Company's current profile. We view this as a positive step forward to
enhance Newlook's corporate governance and focus on developing strategies for
increasing shareholder value going forward."

    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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