Newlook Subsidiary Announces Stock Option Plan

    TORONTO, Oct. 23 /CNW/ - Newlook Industries Corp. (TSXV: NLI) ("Newlook"
or "the Company) has announced today that its majority owned subsidiary,
Wireless Age Communications, Inc. (OTCBB: WLSA), ("Wireless Age"), has granted
2.5 million options under a stock option plan.
    The options were granted to officers, directors and employees of the
Company and its operating subsidiaries. They carry a three-year term and vest
in thirds-one-third immediately, with another third on January 1, 2009 and the
final third on January 1, 2010 and are exercisable at $0.25 per share.
    The plan is subject to shareholder and regulatory approval.

    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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