Autoworks International Limited Reports Financial Results

Autoworks International Limited (FWB:A6Q) today reported that it has completed the audit for its consolidated financial statements for the year ending September 30, 2006. Revenues in its wholly owned subsidiary were $1,801,913 CDN. compared to revenues of 1,930,627CDN for the previous fiscal period. The decrease in revenues were mainly due to a shift within the automobile insurance industry and its management of damaged automobile repair claims. "Insurers appear to be directing a large volume of automobile repair claims to organized chains of "preferred repairers" in exchange for discounts on parts, labor and paint costs which in the aggregate generate significant cost savings for insurers” said Robert Byers, Chairman. "Our subsidiary is independently operated and not a party to a preferred repairer or organized chain status.” The company incurred losses for the year of $(998,705) CDN. The losses were largely a result of the implementation of the Parts Direct Inc. business model, expenses related to the company’s private placements and a general slowdown in business operations in its subsidiary. Due to the business slowdown, Autoworks Technology Limited. completed a sale of non performing business assets of $250,000 CDN. Management of Autoworks’ wholly owned subsidiary, Parts Direct Inc. is continuing to explore the possibilities of the implementation of a test pilot program for its "Part Scan” software and related services with automobile insurers. Opportunities and discussions with insurers have been more tenuous and time consuming than expected, therefore a test pilot program is currently not in place. Parts Direct Inc. is an International software design, development and services provider focused primarily on generating Internet based proprietary application software solutions for industries that may benefit from enhanced business-to-business communications, systems integration and coordination between their industry stakeholders. The software and services offerings may generate operating efficiencies and improved profitability to various industry participants. Autoworks International Limited is in discussions with several acquisition and investment targets. The companies under review have substantial revenues and assets and could generate significant value to Autoworks’ shareholders if discussions are successful. The company recently signed an agreement to acquire a 40% non-operating interest in the Two Medicine Cut Bank Sand Unit oil development and production project owned and operated by Provident Energy Associates of Montana LLC. (PEAM) which was announced March 26, 2007, In 2006, PEAM generated revenues of in excess of $1.0 Million. Revenues are projected to increase to approximately $6.0 million in 2007 with production of 120,000 barrels of oil and approximately $ 11.0 million with production of 220,000 barrels of oil in 2008. The price of oil has been conservatively calculated at $50.00 per barrel. The acquisition if successful, will constitute a change of business for the company with a new focus on the International Oil Gas and natural resources industry. There however can be no assurance that the acquisition as contemplated will be completed as proposed. The acquisition remains subject to a number of conditions, including but not limited to; sufficient investment financing, sufficient drilling program and working capital allocations, necessary regulatory approval if any, further corporate evaluation and review required for a transaction of this nature and magnitude. Contact: Investor Relations Autoworks International Limited info@autowork-international.net Cautionary statement for purposes of the "Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995: Any statements in this report that refer to the forecasted, estimated or anticipated future results of Autoworks International Limited ("Autoworks " or the "Company") are forward-looking and reflect the Company's current analysis of existing trends and information. Actual results may differ from current expectations based on a number of factors affecting Autoworks businesses, including competitive conditions and changing market situations. Matters affecting the economy generally, including the state of economies worldwide, can affect Autoworks results. Forward-looking statements represent the Company's judgment only as of the date of this report. Since actual results could differ materially, the reader is cautioned not to rely on these forward-looking statements. Moreover, Autoworks disclaims any intent or obligation to update these forward-looking statements.