Solutrea Corp.

Solutrea Corp.

March 11, 2008 16:43 ET

Solutrea Corp Business Update

Solutrea Expects to File 2007 Yearend Financials by End of May

CALGARY, ALBERTA--(Marketwire - March 11, 2008) - Solutrea Corp.("Solutrea") (TSX VENTURE:SLA) announced today a plan to file its 2007 yearend financial statements by the end of May. Solutrea's shares have been subject to a Cease Trade Order ("CTO") since September 6th for not filing timely financial statements for the second quarter of fiscal 2007. Since then, deadlines for other reports have occurred. Solutrea has subsequently filed its second and third quarter financial statements, as well as the business acquisition report for the acquisition of Fatport Corporation. Solutrea intended to file the 2007 yearend financial statements by the deadline of February 29th. However, an audit status review with its auditor led Management and the Board to conclude that it was impossible to meet this deadline. The main obstacle relates to the acquisition during the fiscal year of several private companies that have never been audited. In addition, administering strict financial control over a number of remote companies with very limited staff has been a serious challenge.

Management moved quickly to solve the staffing issues and has hired a CMA in the role of financial manager to support the CFO (CA) and Controller(CGA). Solutrea has also contracted the services of Mr. Robert Reyerse (CA) to help guide the financial team through the CTO situation. Robert's 20 years of experience includes streamlining accounting and finance department processes, developing management reporting systems, and undertaking business process redesign. He has worked with Solutrea's CFO to develop a detailed work-plan to address the CTO.

The new management team is also joined by Calgary businessman, Dr. Hussein Amery, Sr. Vice-President, who will be in charge of corporate administration, ensuring proper policies and controls are implemented. Hussein has an extensive business background, has operated a number of successful private businesses, and has been involved in the launch of several public companies. Dr. Amery said, "We feel confident that we have defined a clear and expeditious way forward and have identified all current issues facing Solutrea. Furthermore, the work-plan focuses on completing the 2007 yearend audit and applying to the securities commissions to lift the CTO."

Dr. Zaghloul added , "The new management team is also developing a communication plan to report to employees, shareholders and the Board on a consistent and timely basis. Procedures and controls are being implemented to ensure a tighter operational focus as part of Solutrea's overall, strategic planning process over the next 6 weeks."

About Solutrea Corp.

Solutrea Corp. is a provider of digital signage/communications networks for consumers, businesses and the US government. The company provides public Wi-Fi networks, digital signage, corporate communications and Business Television over wireless, satellite and terrestrial platforms. Powerstar's shares trade on the TSX Venture Exchange under the symbol (TSX VENTURE:SLA). For more information visit

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This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgment, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this release.

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