Central Industries Hits New Sales High in 2007, Earnings Up 400% for Year

Central Industries Corporation Inc. (TSX VENTURE:CND.A) increased sales for the
seventh consecutive year, with annual revenues reaching $38 million up $3.6
million from 2006. Central had earnings of $804,000 before interest taxes and
amortization, an increase of $417,000 over 2006. Earnings per share increased to
$0.02 in 2007 from $0.00 in 2006, reflecting the increase in net profits to
$340,000 from $66,000. Company was able to increase production for the year to
meet demand attributed to growth of the Company's "Choice Pak" brand awareness,
increased shipments to domestic retailers and new sales into Russia. This
allowed it to improve sales and maintain profitability margins.


CICI generated record fourth quarter sales of $9.8 million for the 3 months
ended October 31, 2007, up from $9.3 million for the same period in the previous
fiscal year. The Company realized income before interest, taxes and amortization
of $228,000, in this period, up $141,000 from $87,000 for the same period in
2006.


Despite the pressures on raw material costs, increased productivity in resulted
in a decrease in the cost of meat products and labour as a percent of sales,
from 89.7% in 2006 to 87.5% in 2007, as a result of improved operating
efficiencies and reduced fluctuations in raw material costs.


In 2007, the company's selling, general and administration expenses increased by
$648,000 to $3,948,000, an increase of 20% from $3,300,000 in the same period in
2006. This increase is due to the higher cost of operating the Timberlea plant
due to increased output and increased costs of carrying higher inventory,
including storage and material handling costs. Administrative salaries also
increased. As a percentage of sales, selling, general and administration
expenses was 10.4% of sales for the year ended October 31, 2006, from 9.6 % in
2006.


Management continues to consider other means of increasing shareholder value and
considering other higher margin opportunities in meat processing in Canada and
Europe as well as other business opportunities in Canada and abroad.


The Company's fourth quarter and annual financial statements are summarized as
follows:




                                             October 31
                                         2007      2006

Consolidated Balance Sheets ($'000)

Current Assets                          4,926     4,173
Capital Assets                          1,149     1,229
Goodwill                                  555       555
                                       -----------------

Total Assets                            6,630     5,957
                                       -----------------
                                       -----------------

Liabilities and Equity
Bank indebtedness                       1,791     1,358
Other current liabilities               1,997     2,163
Non-current liabilities                   849       783
Share capital                           1,952     1,952
Retained Earnings (Deficit)                41      (299)
                                       -----------------

Total Liabilities and Equity            6,630     5,957
                                       -----------------
                                       -----------------


                                          Year ended       3 months ended
                                          October 31           October 31
                                     2007       2006      2007       2006

Consolidated Statements of
 Operations
 ($'000 except per share
  amounts)

 Sales                         38,123,023 34,445,159 9,764,186  9,262,250

 Meat products and labour      33,339,103 30,757,498 8,515,542 $8,025,413
 Selling, general and
  administration                3,948,175  3,300,427   989,608  1,150,157
 Loss on disposal of capital
  assets                           31,270          0    31,270          0
                               -------------------------------------------

 Income before interest
  amortization & taxes            804,475    387,234   227,766     86,680

 Bank charges & interest          160,873    140,881    50,434     40,982
 Amortization                     171,316    169,007    34,230     46,512

 Taxes                            132,147     10,862    44,533     36,088
                               -------------------------------------------

 Income (Loss) for the period     340,139     66,484    98,569    (36,902)
                               -------------------------------------------
                               -------------------------------------------

 Earnings (Loss) per share -
  basic and fully diluted           $0.02      $0.00     $0.01      $0.00
                               -------------------------------------------
                               -------------------------------------------


                                              Year ended    3 months ended
                                              October 31        October 31
                                          2007      2006     2007     2006

Consolidated Statements of Cash Flows
($'000)

 Cash (used in) operating activities  (249,629) (566,750) 143,004   47,561
 Cash (used in) from financing
  activities                           372,265   697,536  (83,063)  52,416
 Cash provided by investing
  activities                          (122,636) (130,786) (59,941) (99,977)
                                     --------------------------------------
 (Decrease) increase in cash and
  cash equivalents                           -         -
 Cash and cash equivalents-beginning
  of year                                    -         -        -        -
                                     --------------------------------------

 Cash and cash equivalents-end 
  of year                                    -         -        -        -
                                     --------------------------------------
                                     --------------------------------------



About Central Industries Corporation Inc.

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.


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.