News

NEWLOOK SUBSIDIARY CHALLENGE OF RECEIVERSHIP DISMISSED

TORONTO, ONTARIO, January 29th, 2009 - Newlook Industries Corp. ("Newlook" or the "Company") (TSXV: NLI) today announced that on January 27, 2009, the Court of Queen’s Bench for Saskatchewan, dismissed the challenge by the Company’s majority owned subsidiary Wireless Age Communications, Inc. ("Wireless Age") of the Interim Receivership Order obtained by Saskatchewan Telecommunications ("SaskTel").

As previously announced in the Company’s news releases dated January 12, 2009, January 20, 2009 and January 23, 2009, SaskTel served Wireless Age subsidiaries Wireless Age Communications Ltd. ("Wireless Ltd.") and Wireless Source Distribution Ltd. ("Wireless Source") with a Notice of Intention to Enforce Security under the Bankruptcy and Insolvency Act, and also obtained a Court Order to immediately appoint an interim receiver. Wireless Age challenged the Court Order in a hearing heard on January 22, 2009.

On January 27, 2009, the judge presiding over the matter dismissed Wireless Age's challenge. The result is that the assets of Wireless Ltd. and Wireless Source remain under control of Meyers Norris Penny Limited, the receiver.

Newlook has further news pending (which is unrelated to the Wireless Age matter) and the Company's stock will remain halted until such news is disseminated.

Newlook will disseminate any other developments through subsequent news releases, as required by securities legislation and Exchange Requirements.

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 www.sedar.com.

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 more information contact:

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