Sparta Capital Ltd. Releases Annual Audited Financial Statements

Sparta Capital Ltd. ("Sparta") (TSX VENTURE:SAY) released today its audited
financial statements for the year ended September 30, 2008.


The comprehensive loss for the year ended September 30, 2008 was $275,337 (2007
- $349,110).




SUMMARY OF INCOME STATEMENT INFORMATION
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Income Statement                                        2008           2007
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Sales                                           $          -   $     28,054
Cost of sales                                   $          -   $     19,804
Operating expenses                              $    318,841   $    441,976
Other income                                    $     19,092   $     84,616
Other comprehensive income                      $     24,412   $          -
Comprehensive loss for period                   $   (275,337)  $   (349,110)
Per share - basic and diluted                   $     (0.008)  $     (0.010)
Weighted average shares outstanding - basic       35,220,508     35,115,631
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SUMMARY OF CASH FLOW INFORMATION
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Cash Flow                                               2008           2007
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Cash from operating activities                  $   (262,563)  $   (569,744)
Cash from financing activities                  $     15,340   $     (2,038)
Cash from investing activities                  $    (46,409)  $    154,692
Decrease in cash and cash equivalents           $   (293,632)  $   (417,090)
Cash and cash equivalents - beginning of period $    695,007   $  1,112,097
Cash and cash equivalents - end of period       $    401,375   $    695,007
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SUMMARY OF BALANCE SHEET INFORMATION
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Balance Sheet                                           2008           2007
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Cash and cash equivalents                       $    401,375   $    695,007
Total Assets                                    $  1,436,489   $  1,670,012
Total Liabilities                               $     29,811   $     16,237
Share capital                                   $  5,221,199   $  5,001,646
Total Shareholders' Equity                      $  1,406,678   $  1,653,775
Total Liabilities & Shareholders' Equity        $  1,436,489   $  1,670,012
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RESULTS OF OPERATIONS

For the year ended September 30, 2008 the Corporation had a comprehensive loss
of $275,337 as compared to a September 30, 2007 comprehensive loss of $349,110.
The decrease in comprehensive loss mainly relates to the decrease in the
advertising & promotion expense of the Hy-Drive system.


Advertising & Promotion decreased from $81,369 to $16,386 due to the reduction
of investor relation fees and decrease in promotional expense of the Hy-Drive
system.


Consulting fees decreased slightly from $210,472 to $200,154 as a result of
utilizing less consultant services and a reduction of stock based compensation
expense from $21,667 to $17,900.


Licenses and fees decreased from $18,347 to $15,649 resulting from decreased
regulatory and exchange filing fees incurred.


Office rent increased from $17,776 to $19,753 due to office relocation with
increased lease costs.


Professional fees decreased from $51,706 to $24,724 due to decreased legal costs
related to filings and contract review as well as decreased accounting fees for
financial reporting functions now being performed internally.


Travel decreased from $17,805 to $11,820 due to a decrease in international
travel and promotional expenses of the Hy-Drive system.


The Company's September 30, 2008 audited annual financial statements and
management discussion may be viewed on SEDAR at www.sedar.com.