Winalta Inc.

Winalta Inc.

August 23, 2007 17:18 ET

Winalta Inc.: News Release

EDMONTON, ALBERTA--(Marketwire - Aug. 23, 2007) - Winalta Inc. ("Winalta") (TSX VENTURE:WTA.A) advises that the Board of Directors has approved the acquisition of 2 properties from a subsidiary of Kos Corp. Investments Ltd.("Kos").

Kos currently holds directly and indirectly 13,353,151 common shares of Winalta representing 40.01% of the issued and outstanding common shares. Artie Kos and Paul Shelley are directors of Winalta and directors and officers of Kos. Artie Kos directly and indirectly owns all of the outstanding shares of Kos.

As Kos is the major shareholder of Winalta, significant due diligence was undertaken including independent appraisals and valuations of each of the properties by each of Winalta and Kos. After considering the independent appraisals and valuations, the due diligence undertaken and the terms of the transaction, the Board of Directors approved the issuance and transfer of land for shares of Winalta Inc, with Messrs. Kos and Shelley abstaining.

The properties are undeveloped and are located in Bruderheim, Alberta (52 acres), and Drayton Valley, Alberta (157 acres). Total consideration is $4,457,500 and will be paid for by the issuance of 2,217,662 shares of Winalta Inc. at a share price of $2.01 being the closing price of the shares on August 22, 2007. Following completion of the acquisitions, Kos will hold, directly and indirectly, 15,624,813 common shares of Winalta representing 43.9% of the issued and outstanding common shares. No finder's fee is payable relative to this matter. The transaction is subject to TSX Venture Exchange approval. Closing is expected to occur by the end of September, 2007.

These acquisitions further Winalta's strategy of building communities, through its Community Development division, whereby it acquires land, provides servicing, places its manufactured homes on site and realizes significant returns through the entire value chain. Bruderheim is a community in Alberta's industrial heartland where significant upgrader activity is planned and the need for affordable housing is evident. Drayton Valley is located in a very active service sector of the oil and gas industry with a need for affordable housing as site builders are struggling with the unavailability of local trades. Both properties will expand Winalta's base of land allowing it to supply housing units over the next several years in addition to its existing base of properties in Ft. McMurray, Stony Plain and Sylvan Lake.

Winalta is also pleased to announce the release of its new website,

Winalta Inc. and through its subsidiaries, is a land developer in western Canada as well as a producer of manufactured and modular CSA certified homes and site built homes. In addition, it manufactures industrial trailers and camps.

Winalta Inc. shares trade on the TSX Venture Exchange under the symbol "WTA.A".

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

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