Winalta Inc. Reports First Quarter 2008 Results

    CALGARY, March 31 /CNW/ - Winalta Inc. (Winalta) today announced
financial results for its fiscal 2008 first quarter ended January 31, 2008.
The Company reports net earnings of $769,000 on revenue of $20.2 million
($0.02 per share fully diluted) compared to a net loss of $989,000 ($0.05 per
share fully diluted) on revenue of $16.8 million in 2007.

    EBITDA is reported at $3.8 million ($0.11 per share fully diluted)
relative to a loss of $95,000 ($(0.01) per share fully diluted) reported in
2007 (as restated).

    Selected Financial Highlights (000's, except per share amounts and

                                                         Three months ended
                                                             January 31
                                                       2008    2007(restated)
                                                       ----    --------------
    Revenue                                         $20,238          $16,784
    Gross profit                                    $ 6,629          $ 2,130
    Gross profit %                                       33%              13%
    Net earnings (loss)                             $   769          $  (989)
    Earnings (loss) per share                       $  0.02          $ (0.05)
    EBITDA                                          $ 3,843          $   (95)
    EBITDA per share                                $  0.11          $ (0.01)

    Winalta's operating performance showed sustained profitability through
the first three months of the 2008 fiscal year. Revenue for the three months
ended January 31, 2008 was increased from 2007 as revenue from a full quarter
of an expanded oilfield rental fleet was recognized as well as from the
Construction Division operations acquired in 2007. Gross profit margins in the
Company's operating divisions averaged 33 percent, up from 13 percent in 2007
as management focused on profitability in all operating divisions.

    Additional information and Management's Discussion and Analysis are
available on SEDAR (

    Winalta Inc. is a western Canadian based land developer and producer of
manufactured and modular CSA certified homes and site built homes. In
addition, it manufactures and rents industrial trailers and camps.

    Winalta Inc. shares trade on the TSX Venture Exchange under the symbol

    The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.

    %SEDAR: 00005154E

For further information:

For further information: Artie T. Kos, President and CEO, Winalta Inc.,
(780) 960-6900

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Winalta Inc.

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