H.A.L. Concepts Ltd

May 29, 2006 17:32 ET

H.A.L. CONCEPTS LTD.: Third Quarter Results

TORONTO, ONTARIO--(CCNMatthews - May 29, 2006) - H.A.L. CONCEPTS LTD. (TSX VENTURE:HHC) announced that net loss for the three months ending March 31, 2006 was $58 thousand ($nil per share) compared to $432 thousand net income ($0.01 per share) for the same period in 2005. The decrease in net income was attributable to a decrease in investment income on excess cash which was used to redeem the Company's deferred preferred shares.

The Company cautions that reported earnings are dependent on factors which do not occur evenly period to period such as the timing of real estate sales and other non-typical, non-recurring events. Accordingly, results for the quarter and annualized for the year may not be indicative of future results.

This press release includes certain forward looking statements including management's assessment of the Company's future plans and operations based on current views and expectations. All statements other than statements of historic facts are forward looking statements. These statements contain substantial known and unknown risks and uncertainties, some of which are beyond the Company's control. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements. Readers should not place undue reliance on these forward looking statements which represent estimates and assumptions only as of the date on which such statements are made. The Company undertakes no obligation to publicly revise or update any forward looking statements, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.

Contact Information

    Andrew Kim
    (416) 867-9079
    (416) 867-1961 (FAX)