Empire Industries Ltd.

Empire Industries Ltd.

October 22, 2010 17:19 ET

Empire Industries Ltd. Announces Correction to Incentive Stock Option Exercise Prices

WINNIPEG, MANITOBA--(Marketwire - Oct. 22, 2010) - Empire Industries Ltd. (TSX VENTURE:EIL) ("Empire" or the "Company"), today announced that it has re-issued certain previously issued incentive stock options, to maintain compliance with TSX-V policy. On September 1, 2010, the Company announced that it had issued 1,550,000 incentive stock options to independent directors and senior management, with an exercise price of $0.09. These incentive stock options have been re-issued by the Company with an exercise price of $0.10, to maintain compliance with TSX-V policy. All other terms and conditions of the stock option grant remain unchanged.

About Empire Industries Ltd.

Empire Industries Ltd. adds value to steel through its leading, Western Canadian engineered products manufacturing and steel fabrication groups and its Fort McMurray-based strategic partnership in the maintenance services sector. The Company's business operations are focused on the infrastructure, commercial and industrial construction marketplace of Western Canada and select niche markets internationally. Empire's common shares are listed on the TSX Venture Exchange under the symbol EIL.

For more information, please visit our web-site at: www.empind.com.

Forward-looking statements

This press release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Empire's business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as "plans'', "expects'' or "does not expect'', "budget'', "scheduled'', "estimates'', "forecasts'', "intends'', "anticipates'' or variations of such words and phrases or state that certain actions, events or results "may'', "could'', "would'', "might'' or "will be taken'', "occur'' or "be achieved''. These forward looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and Empire assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.

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.

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