Consolidated Envirowaste Reports 2008 Annual Results

Consolidated Envirowaste Industries Inc. (TSX VENTURE:CWD) announced today its
results for the year ended September 30, 2008. A complete copy of the Company's
audited annual financial statements and accompanying management's discussion and
analysis is available on SEDAR at www.sedar.com. Excerpts from the annual
audited financial statements are as follows:




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September 30                                            2008          2007
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Total Revenues                                   $19,411,701   $22,358,945
Net loss from continuing operations              ($1,097,162)    ($871,671)
Loss per share-basic                                  ($0.11)       ($0.08)
Loss per share-diluted                                ($0.11)       ($0.08)
Net loss for the year                            ($1,097,162)    ($871,671)
Loss per share-basic                                  ($0.11)       ($0.08)
Loss per share-diluted                                ($0.11)       ($0.08)
Weighted average number of common shares
 outstanding-basic                                10,414,699    10,414,699
Weighted average number of common shares
 outstanding-diluted                              10,414,699    10,414,699
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The Company recorded a net loss of $1,097,162 or $0.11 per share ($0.11 per
share diluted) for the year ended September 30, 2008 compared to a net loss of
$871,671 or $0.08 per share ($0.08 per share diluted) for the year ended
September 30, 2007.


The deterioration throughout the year in Florida's economic conditions affecting
the Company's dominant Florida-based subsidiary's tipping and processing
revenues and operations caused the Company's revenue to decline by 13% or
approximately $2,900,000 to $19,411,701 for the year ended September 30, 2008
compared to $22,358,945 for the 2007 fiscal year-offsetting minor revenue gains
achieved by the Company's Canadian Operations. The Canadian dollar's rise above
par with the U.S. dollar during the 2008 fiscal year contributed approximately
$1,570,000 of the revenue losses from translation of the Company's U.S. dollar
denominated revenue streams for fiscal 2008 compared to the prior year. Record
fuel prices during fiscal 2008 increased manufacturing input and transportation
costs as the Company adjusted its pricing and operations to moderate the effects
of these cost pressures on its operating margins. The Company generated
approximately $867,000 in cash flows from operating activities after changes in
working capital for the year ended September 30, 2008 compared to only $124,000
for the previous fiscal year.


The Company recorded a net loss after income tax recoveries of $548,426, or
$0.05 per share ($0.05 per share diluted) for the fourth quarter of 2008,
compared to a net loss after income tax recoveries of $440,582, or $0.04 per
share ($0.04 per share diluted) for the same quarter of 2007.


Revenue for the quarter, at $4,401,108, was down approximately 6% from
$4,697,844 reported in the fourth quarter of 2007. The majority of these
revenues in both periods were derived from the operations of the Company's
Florida-based subsidiary, Consolidated Resource Recovery Inc. ("CRR Florida").
As in earlier quarters of 2008, the economic slowdown affecting CRR Florida's
revenues continued to influence consolidated revenues as CRR Florida's revenue
declined 5% compared to the fourth quarter of last year. In contrast to several
previous quarters, the Company experienced only minor losses on currency
translation of its U.S. dollar denominated revenues as the Canadian dollar
remained at similar levels versus the U.S. dollar in the fourth quarter of 2008
compared to the same quarter in 2007. Cash generated by operating activities
during the three months ended September 30, 2008 was $394,846 after changes in
working capital compared to cash used in operations of $47,312 during the fourth
quarter of fiscal 2007.


The Company expects the current downward trend in revenues and operating results
to continue well into the 2009 fiscal year while it continues to adjust
operations to meet the downturn in economic conditions in the U.S. Southeast. In
the anticipated absence of severe weather patterns experienced during the past
two to three years, the Company expects operating results to mirror seasonal
trends experienced earlier in the decade.


Consolidated Envirowaste Industries Inc. is a leading processor of wood and
other organic wastes in Western Canada and Florida. The Company markets and
supplies biomass boiler fuel for electric generation facilities, charcoal
manufacturers and pulp and paper mills in the U.S., bulk landscaping products in
both of these regions, and packaged soil products to major Western Canadian
retailers.


Forward-Looking Statements

This report contains statements that are forward-looking in nature. Readers are
cautioned that such forward-looking statements are not guarantees and may
involve known and unknown risks and uncertainties that could cause the actual
results of the Company to be materially different from those expressed or
implied by those forward-looking statements. Such risks include, among others:
general economic and business conditions, weather factors, competition, product
selling prices, the cost and availability of raw materials, operating costs,
changes in foreign currency exchange rates, dependence on contracts, the
regulatory environment, seasonality, risk of liability for environmental damage,
risks associated with litigation, and concentration of shareholder control. For
a fuller description of those risks, please see the sections headed "Critical
Accounting Estimates" and "Risk Factors" in management's discussion and analysis
for the year ended September 30, 2007, a copy of which is available under the
Company's name on SEDAR at www.sedar.com.


Consolidated Envirowaste Industries Inc.

James E. Darby, Chairman and Chief Executive Officer