WestBond Enterprises Corporation
TSX VENTURE : WBE

WestBond Enterprises Corporation

July 22, 2005 17:00 ET

WestBond Releases Year-End Financials

DELTA, BRITISH COLUMBIA--(CCNMatthews - July 22, 2005) - WestBond Enterprises Corporation ("WestBond") (TSX VENTURE:WBE) is pleased to announce that it has filed its consolidated financial statements for the year ended March 31, 2005. Sales increased 11.5% over last year. Increased paper costs resulted in lower profits than expected.

WestBond is now finishing the installation of the last of the machines needed to provide a comprehensive personal hygiene paper product line and expects significant increases in sales over the next several months, and years.

The following summary financial information has been extracted from WestBond's consolidated financial statements for the year ended March 31, 2005. The operating results for the year ended March 31, 2004 have been restated to reflect a new accounting policy for stock options. Investors are encouraged to read the full financial statements, including the notes thereto, the auditors' report thereon, and management's discussion and analysis, which are all available on www.SEDAR.com and on the company's web-site at www.WestBond.ca. Please contact WestBond if you would like a printed copy.



Years ended March 31,
----------------------------
Operating Results 2005 2004
$ $
restated
Sales 5,652,270 5,069,320
Cost of sales 4,097,693 3,518,808
----------------------------
Gross profit 1,554,577 1,550,512
Selling and marketing expenses 486,300 443,587
General and administrative expenses 696,268 657,581
----------------------------
Net income before tax 372,009 449,344
Income tax expense 155,711 175,876
----------------------------
Net income 216,298 273,468
----------------------------
----------------------------
Net income per share, basic and diluted 0.02 0.03
----------------------------
----------------------------
Cash Flows
Operating Activities 386,495 559,083
Investing Activities (357,990) (824,149)
Financing Activities (48,913) 295,747
----------------------------
(Decrease) Increase (20,408) 30,681
----------------------------
----------------------------


March 31,
----------------------------
Financial Position 2005 2004
$ $
Current assets 1,677,379 1,306,768
Other assets 2,350,018 2,138,389
----------------------------
Total assets 4,027,397 3,445,157
Current liabilities 1,267,228 1,032,775
Long-term liabilities 661,131 664,254
----------------------------
Shareholders' equity 2,099,038 1,748,128
----------------------------
----------------------------


WestBond is located in Delta, British Columbia and is a leading converter of disposable paper products used for personal hygiene in medical and industrial markets.

WestBond is listed on the TSX Venture Exchange and trades under the symbol "WBE".

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

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