ComWest Enterprise Corp.
TSX VENTURE : CWP
TSX VENTURE : CWP.A

May 27, 2011 14:48 ET

ComWest Enterprise Announces Conditional Approval of Change in Business and Dividend

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 27, 2011) - ComWest Enterprise Corp. (TSX VENTURE:CWP)(TSX VENTURE:CWP.A) (the "Company") is pleased to announce that it has received disinterested shareholder approval to its previously announced and completed change of business transaction whereby the Company acquired a 90% interest in a Winnipeg-based garment manufacturing business. The shares of the Company are expected to remain halted until such time as the Company obtains final approval of the Exchange to the change of business.

The board of directors of the Company has declared a cash dividend of $0.02 per share, payable to shareholders of record on June 8, 2011. The dividend will be paid on or about June 15, 2011. Both holders of Class A Restricted Equity Shares and Class B Common Shares will be entitled to the dividend. All dividends declared by the Company are designated as eligible dividends.

ON BEHALF OF THE BOARD

Douglas F. Good, President

Forward-Looking Statements

This news release contains forward-looking statements regarding the future success of the business of the Company that is subject to risk and uncertainties. Examples of such forward-looking statements include, but are not limited to, statements concerning the Corporation's acquisition of an operating business and the Corporation's intention to pay dividends. These forward-looking statements involve known and unknown risk and uncertainties that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. These risks include risks related to dependence on key personnel, competition, risks related to newly acquired businesses, uncertainty and dilution of additional financing and ability to service debt, as well as the risk factors described in the Corporation's Management Discussion and Analysis filed on SEDAR at www.sedar.com, and the risks described in the Management Information Circular dated April 26, 2011 prepared in connection with the transaction. The forward-looking statements contained herein are made as of the date of this Circular and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such forward-looking statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

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