Newlook Provides Corporate Update

   Newlook Industries Corp. ("Newlook" or the "Company") (TSX VENTURE: NLI) wishes to provide an update on various corporate matters.

On September 1, 2010, the Ontario Securities Commission revoked a cease trade order ("CTO") that was originally imposed on the Company due to the late filing of its financial statements, which were brought up to date during August 2010. Subsequently, the Company initiated the reinstatement review process with the TSX Venture Exchange ("TSXV") in order to recommence trading of its shares, which had been suspended on July 2, 2010 as a result of the CTO. The reinstatement process has been ongoing, and the Company will continue working with the TSXV in this regard.

On June 7, 2010, Newlook announced its intent to acquire the Fanotech Manufacturing Group. This transaction will not be executed with the Company as originally intended. Additionally, a transaction to acquire a stake in Vecture Inc. as announced on April 15, 2010, will no longer proceed. Newlook will continue to keep the market informed of any material corporate developments as they occur.

Newlook Industries Corp., headquartered in King City, Ontario is a publicly traded company listed on the TSX Venture Exchange. For more information please call [phone] or refer to www.sedar.com.

The management of the company, who take full responsibility for its content, prepared this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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.

Contacts: Newlook Industries Corp. John G. Simmonds Chief Executive Officer [phone] x223