NLI Newlook Industries Corp

Newlook Industries Corp. ("Newlook" or the "Company") (TSX VENTURE:NLI)
announces that it will delay the filing of its financial statements for the year
ended December 31, 2009, along with the associated management discussion and
analysis ("MD&A") and CEO/CFO certifications (the "Annual Filings") as more time
is required to complete its audit.


Deloitte & Touche LLP, the Company's auditors, are presently engaged in
conducting their field work in relation to the audit of the Company's annual
financial statements. Newlook has made significant progress in obtaining the
audit of the annual financial statements, and completion of the audit is
imminent. The Company expects to file its Annual Filings within the month of
July 2010.


As a result of the delay in the Annual Filings, the Company shall delay the
filing of its financial statements for the quarter ended March 31, 2010, along
with the associated MD&A and CEO/CFO certification (the "Interim Filings") until
such time that it files the Annual Filings.


The delay in filing both the required Annual and Interim Filings beyond June 30,
2010 exceeds the end of the two month period contemplated by National Policy
12-203 for the management cease trade order ("MCTO") currently in place. As
such, it is anticipated that the Ontario Securities Commission ("OSC") will
issue a temporary general cease trade order to replace the MCTO.


Under the procedures of the OSC, this temporary order is expected to be replaced
by a permanent order by July 20, 2010 or thereabouts. The permanent order would
be expected to be in place until shortly after the receipt by the OSC of all
Annual and Interim Filings that the Company is required to make.


Newlook shall continue to keep the market continuously informed of any
developments during the period of default.


Newlook Industries Corp., headquartered in King City, Ontario is a publicly
traded company listed on the TSX Venture Exchange. For more information please
call (905) 833-3072 or refer to www.sedar.com.


The management of the company, who take full responsibility for its content,
prepared this press 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.

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