Central Industries Corporation Inc. Announces Private Placement Financing, Stock Option Grants and Settlement of Debt

Central Industries Corporation Inc. (TSX VENTURE:CND.A)("CICI") is pleased to
announce a non-brokered private placement of up to $900,000 at $0.04 per Unit.
Each Unit will consist of one common share and one warrant. Each warrant will be
exercisable to acquire one common share of CICI for twelve months at a price of
$0.05 and for an additional twelve months at a price of $0.10.


The Common Shares and Warrants comprising the Units will be subject to a hold
period of four months plus one day from the date of issuance in accordance with
the policies of the TSX Venture Exchange and applicable securities laws.


Net proceeds will be used to expand production facilities, repay debt and for
working capital purposes.


Completion of the private placement offering is subject to the approval of TSX
Venture Exchange.


Stock Option Grant

CICI also announces that it has granted 275,000 options to certain employees of
CICI, subject to regulatory approval. The options will be exercisable for a
period of five years at an exercise price of $0.10 per share.


Settlement of Debt

CICI announces that Hans Ruschke has delivered an invoice for more than $700,000
for services rendered to CICI. The Company has thoroughly investigated this
claim. With the intention of avoiding any further claim, CICI has settled this
invoice as follows:


Subject to regulatory and TSX-V approval, it intends to proceed with a Shares
for Debt transaction with Hans Ruschke, whereby Central Industries will issue
3,750,000 ("Debt Settlement Shares") of CICI at a deemed price of $0.05 to
Ruschke to settle part of the outstanding debt owed to Ruschke in the amount of
$187,500. The Common Shares issued will be subject to a four-month hold period
from the date of closing. The issuance of the Debt Settlement Shares will not
result in a change of control.


The balance of the debt to Mr. Ruschke is to be settled no later than May 1,
2009. Subject to these payments, Mr. Ruschke has signed a full and final release
of CICI.


The private placement offering, stock option grants and shares for debt
settlement are subject to regulatory approval and the completion of definitive
documentation.


Change of Directors

CICI announces that Michael Vinke has resigned as Director and has been
re-placed by Mauro Cerullo.


CICI announces that Gerald Salvati has resigned as Chief Financial Officer of
CICI and has been replaced by David Ciavarella.


About Central Industries Corporation Inc.

CICI operates a federally inspected, HACCP approved, meat processing company
that converts wholesale cuts from a hog carcass or "primal meat cut" and
converts smaller cuts derived from the primal cuts or "sub primal meat cuts"
into fresh-boxed pork and case ready products, hams and boneless picnic loins
for shipment to its customers. CICI's products are marketed and sold to Canadian
national and regional grocery chains, as well as in the Asian-Pacific market and
other international markets. In addition, it is aggressively looking to expand
into profitable niche businesses in food processing and other industries.


This News Release may contain certain forward-looking statements, which
statements can be identified by the use of forward- looking terminology such as
"may", "will", "expect", "anticipate", "estimate", "predict", "plans", or
"continues" or the negative thereof or any other variations thereon or
comparable terminology referring to future events or results. Forward looking
statements are statements about the future and are inherently uncertain, and the
Company's actual results could differ materially from those anticipated in these
forward-looking statements as a result of numerous factors, including without
limitation, the need for regulatory approval, marketing/manufacturing and
partnership/strategic alliance risks, the effect of competition, uncertainty of
the size and existence of a market opportunity for the Company's products, as
well as a description of other risks and uncertainties affecting the Company and
its business, as contained in news releases and filings with the Canadian
Securities Regulatory Authorities, any of which could cause actual results to
vary materially from current results or the Company's anticipated future
results. Forward-looking statements are based on the beliefs, opinions and
expectations of the Company's management at the time they are made, and the
Company does not assume any obligation to update its forward-looking statement
if those beliefs, opinions or expectations, or other circumstances should
change.