Winalta Announces Cancellation and Re-Grant of Options and Director Update

    CALGARY, May 1 /CNW/ - Winalta Inc. today announces that at its Annual
General and Special Meeting held on April 29, 2009, the resolution to cancel
and re-grant stock options granted to insiders, was approved by a vote of
disinterested shareholders. In accordance with the resolution, Winalta has
cancelled 1,505,000 previously issued options granted to insiders and
re-granted 752,500 stock options to such insiders at an exercise price of
$0.50. In addition, Winalta has also cancelled 928,750 options previously
issued to employees of Winalta and re-granted 464,375 options, also having an
exercise price of $0.50. In accordance with the company's Stock Option Plan,
each of the re-granted options has a term of 5 years and shall vest as to 25%
each year.
    Winalta also announces that Terry Bradshaw has resigned from the Board of
Directors as of April 29, 2009. Winalta's Board and Management would like the
thank Terry for his service over the past year.

    Winalta Inc. (the "Company") operates with three distinct divisions. The
Homes division sells CSA approved manufactured and modular homes and custom
site-built homes and develops land and builds communities. The Industrial
division operates a portable accommodation rental business and a construction
services operation which provides earth moving and excavation related
services, gravel and crushed aggregate sales and delivery, asphalt paving and
concrete finishing. The Manufacturing division produces manufactured and
modular homes and mobile industrial accommodations from facilities in Acheson,
    Winalta Inc. shares trade on the TSX Venture Exchange under the symbol

    The TSX Venture Exchange has neither approved nor disapproved the
    contents of this news release. The TSX Venture Exchange does not accept
    responsibility for the adequacy or accuracy of this release.

    %SEDAR: 00005154E

For further information:

For further information: Business contact: Ron Berg, President & CEO,
Winalta Inc.,, Tel: (780) 960-6900, Fax: (780)
962-9523;; Austin Fraser, VP Corporate Development and
Investor Relations, Tel: (403) 475-4698

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