Nile Industries Ltd. and Tiles From the Nile Ltd. Announces TSXV Conditional Approval, Shareholder Approval of the Qualifying Tr

Nile Industries Ltd. (TSX VENTURE:NLE.P) ("Nile"), a capital pool company listed
on the TSX Venture Exchange Inc. ("TSXV") and Tiles From the Nile Ltd. ("Tiles")
are pleased to announce that the TSXV has conditionally approved Nile's
previously announced Qualifying Transaction and that at an annual and special
meeting of shareholders of Nile held on January 14, 2009, Nile received
shareholder approval of the Qualifying Transaction.


Nile also announced today that 92.04% of the outstanding common shares ("Tiles
Shares") of Tiles have been tendered to its offer dated November 28, 2008 to
acquire all of the outstanding Tiles Shares (the "Offer") and it has extended
the Offer, which is now open for acceptance until 4:30 p.m. (MST) on January 27,
2009. All other terms of the Offer remain unchanged.


The Offer has been extended to allow additional time for Nile to complete the
$1.2 million private placement of 12,000,000 common shares at $0.10 per share,
which private placement is a condition to the Offer and a condition for final
approval of the TSXV for the Qualifying Transaction. Nile anticipates that the
private placement will be completed on or prior to January 27, 2009. The holders
of Tiles Shares will receive a Notice of Extension from Valiant Trust Company,
the Depositary under the Offer, by mail.


The consideration under the Offer is 0.662532 common shares of Nile for each one
(1) Tiles Share held. The directors of Tiles unanimously recommended approval of
the Offer. The Qualifying Transaction remains subject to final approval from the
TSXV.


Forward-looking Information

This press release contains forward-looking statements and information
concerning the timing of the completion of the Qualifying Transaction and of the
Offer. Since forward-looking statements and information address future events
and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors and risks.


Nile believes the expectations reflected in those forward-looking statements are
reasonable but no assurance can be given that these expectations will prove to
be correct and such forward-looking statements included in this press release
are not guarantees of future performance and should not be unduly relied upon.
These statements speak only as of the date of this press release.


The forward-looking statements contained in this press release are expressly
qualified by this cautionary statement. Nile undertakes no obligation to
publicly update or revise any forward-looking statements except as expressly
required by applicable securities law.


About Tiles From The Nile Ltd.

Tiles has been operating in Calgary since 2002 and is an industry leader in home
and office decor. Tiles offers decor products in the following areas: floor
coverings, sanitary fixtures, countertops, window treatments, upholstery, and
furniture. Tiles supplies builders, architects, interior designers and
homeowners with unique products and services that go beyond its competitors. For
more information: www.tilesfromthenile.com.


About Nile Industries Ltd.

Nile Industries is a capital pool company pursuant to the policies of the TSXV.