CWP.A

ComWest Enterprise Corp. (TSX VENTURE:CWP) (TSX VENTURE:CWP.A) (the "Company")
is pleased to announce that it has received the conditional of the TSX Venture
Exchange (the "Exchange") to its previously announced and completed change in
business transaction whereby the Company acquired a 90% interest in a
Winnipeg-based garment manufacturing business. Final approval of the Exchange is
subject to disinterested shareholder approval of the change in business and
usual Exchange conditions. The Company expects to call a meeting of shareholders
in the near future to seek approval of the change in business. The shares of the
Company are expected to remain halted until such time as the Company obtains
final approval of the Exchange to the change in business.


The Company also announces that preliminary unaudited financial results indicate
that the net income for the Company for the year ended November 30, 2010 will be
$2,340,334, as compared to a loss of $64,829 for the previous year. Net income
reflects income earned from the garment manufacturing business since the
acquisition date of August 19, 2010 and is after an extraordinary gain on
acquisition of this business of $2,425,323.


The board of directors of the Company has declared a cash dividend of $0.02 per
share, payable to shareholders of record on March 1, 2011. The dividend will be
paid on or about March 15, 2011. Both holders of Class A Restricted Equity
Shares and Class B Common Shares will be entitled to the dividend. This dividend
is the initial dividend reflecting a new dividend policy adopted by the Board
whereby the Board expects to declare a quarterly dividend of $0.02 per share,
subject to available cash resources, terms of credit facilities and regulatory
requirements. All dividends declared by the Company are designated as eligible
dividends.


Investors are cautioned that, except as disclosed in the Management Information
Circular and/or Filing Statement to be prepared in connection with the
transaction, any information released or received with respect to the Change of
Business may not be accurate or complete and should not be relied upon. Trading
in the securities of the Company should be considered highly speculative.


ON BEHALF OF THE BOARD 

Douglas F. Good, President 

Forward Looking Statements

This news release contains forward-looking statements regarding the future
success of the business of the Company that is subject to risk and
uncertainties. Examples of such forward-looking statements including, but are
not limited to, statements concerning the Corporation's acquisition of an
operating business and the Corporation's intention to pay dividends. These
forward-looking statements involve known and unknown risk and uncertainties that
may cause the Company's actual results, performance or achievements to be
materially different from any future results, performance or achievements
expressed or implied in these forward-looking statements. These risks include
risks related to dependence on key personnel, competition, risks related to
newly acquired businesses, uncertainty and dilution of additional financing and
ability to service debt, as well as the risk factors described in the
Corporation's Management Discussion and Analysis filed on SEDAR at
www.sedar.com, and the risks to be described in any Management Information
Circular and/or Filing Statement to be prepared in connection with the
transaction. The forward-looking statements contained herein are made as of the
date of this Circular and are expressly qualified in their entirety by this
cautionary statement. Except as required by law, the Company undertakes no
obligation to publicly update or revise any such forward-looking statements to
reflect any change in its expectations or in events, conditions or circumstances
on which any such forward-looking statements may be based, or that may affect
the likelihood that actual results will differ from those set forth in the
forward-looking statements.

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