NLI Newlook Industries Corp

Newlook Industries Corp. ("Newlook" or the "Company")(TSX VENTURE: NLI) is pleased to announce it has released its audited consolidated financial statements for the year ended December 31, 2009, along with associated management discussion and analysis (the "Annual Filings").

The delay in the release of the Annual Filings has hindered the filing of Newlook's financial statements for the quarter ended March 31, 2010, along with associated management discussion and analysis (the "Interim Filings"). Newlook previously announced that both the Annual Filings and Interim Filings would be delayed. With the release of the Annual Filings, Newlook has begun work on the Interim Filings and anticipates their release in the near future.

The TSX Venture Exchange ("TSXV") suspended trading in the Company's securities on July 2, 2010 as a result of a Cease Trade Order ("CTO") issued by the Ontario Securities Commission ("OSC"). The CTO was caused by the delay in the Annual and Interim Filings. The CTO is anticipated to remain in effect until shortly after the receipt by the OSC of the outstanding Interim Filings. Reinstatement to trading can occur only when the CTO is revoked and the TSXV has concluded its reinstatement review to ensure the Company has satisfactorily complied with all TSXV requirements.

Newlook Industries Corp., headquartered in King City, Ontario is a publicly traded company listed on the TSX Venture Exchange. For more information please call (905) 833-3072 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 (905) 833-3072 x223