EGN Engineering.Com Incorporated

ENGINEERING.com Incorporated (TSX VENTURE: EGN), developer of the ENGINEERING.com online resource and business for engineers today announced its financial results for the fourth quarter 2009, year ended December 31, 2009 and first quarter 2010 results.

ENGINEERING.com revenue was $1,433,566 for the fiscal year 2009, compared to revenue of $1,444,768 for the year 2008. Revenue for the three months ended December 31, 2009 was $489,163 compared to $340,828 for the fourth quarter of 2008. The net loss for the year ended December 31, 2009 totaled ($482,794) and ($0.01) per Common Share compared with a net loss of ($520,253) and ($0.02) for the same period a year ago. During 2008, the Company had revenues of $279,305 from the provision of services to a former related party while corresponding revenues from related parties for 2009 declined to $4,800.

For the three months ended March 31, 2010, Engineering.com revenues were $317,771 as compared to revenue of $250,926 for the first quarter of 2009. The net loss for the three months ended March 31, 2010, totaled ($120,531) and ($0.00) per Common Share compared with a net loss of ($194,708) and ($0.01) for the same period a year ago. The increase in revenue is the result of increasing Internet advertising revenue. This revenue growth is derived from higher traffic to the Company's web sites and to growth in the Company's network of advertising partner web sites.

Operating earnings (EBITDA) measured as earnings before interest, taxes, amortization and stock-based compensation, was $7,099 or $0.00 per Common Share for the fourth quarter of 2009 compared with a operating loss of ($93,830) or $0.00 per Common Share for the three month period ended December 31, 2008. Operating loss for fiscal 2009 was ($259,247) or ($0.01) per Common Share compared to an operating loss of ($278,935) or ($0.01) per Common Share for fiscal 2008. The operating expenses in the fourth quarter were $289,323 and for the year were $1,193,078 compared to $289,264 for the fourth quarter a year earlier and $1,228,355 for fiscal 2008.

Operating losses for the first quarter of 2010 were ($64,718) or ($0.00) per Common Share compared with an operating loss of ($133,975) or ($0.00) per Common Share for the three months ended March 31, 2009. The operating expenses in the latest period were $272,124, down from $302,423 in the first quarter a year earlier. The reduction in operating expense resulted from lower salaries, marketing expenses and development costs.

"During 2009 and into the first quarter of 2010 the company's primary web site experienced a significant increase in page views and corresponding growth in Internet advertising revenue," said John Hayes, President of ENGINEERING.com.

As at December 31, 2009, the Company had a cash balance of $106,118 compared to a cash balance of $311,988 as at December 31, 2008. On March 31, 2010, the Company had a cash balance of $148,017 compared to a cash balance of $440,473 as at March 31, 2009.

About ENGINEERING.com Incorporated

ENGINEERING.com Incorporated (TSX VENTURE: EGN) is the developer and owner of the www.ENGINEERING.com Web site and Internet-based software and business. ENGINEERING.com offers hosted and deployed engineering software and services to manufacturers, design consultants and engineering academia around the world. The ENGINEERING.com Incorporated head office is located in Mississauga, Ontario, Canada and can be reached toll-free at 1-877-997-9917, by facsimile at 905-273-6691 or through the Internet at www.ENGINEERING.com.

EBITDA

EBITDA is defined by the Company as operating income before interest expense, income taxes, amortization, stock-based compensation, asset dispositions and provision for discontinued operations. The Company has included information concerning EBITDA because it believes that EBITDA is used by certain investors as one measure of the Company's financial performance. EBITDA is not a measure of financial performance under Canadian generally accepted accounting principles and is not necessarily comparable to similarly titled measures used by other companies. EBITDA should not be construed as an alternative to operating income or to cash flows from operating activities (as determined in accordance with Canadian generally accepted accounting principles) as a measure of liquidity.

Forward Looking Statements

This press release may contain forward-looking statements based on management's current projections, beliefs and opinions at the date of this press release. Actual results could differ materially from those anticipated in these statements. The Company's ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. ENGINEERING.com Incorporated undertakes no responsibility to update forward-looking statements if circumstances or management's projections, beliefs or opinions change.

The contents of this News Release have been reviewed and approved by the Audit Committee and the Board of Directors.

ENGINEERING.com Incorporated
Balance Sheets

(Cdn. $)
(audited)       (audited)
As at           As at
Dec. 31, 2009   Dec. 31, 2008
----------------------------------------------------------------------------
ASSETS
Current Assets
Cash                                                106,118         311,988
Accounts Receivable                                 291,761         189,109
Prepaid Expenses and Deposits                        30,391          29,707
----------------------------------------------------------------------------
Total Current Assets                            428,270         530,804

Property and Equipment, net                          27,916          29,865
Intangible Assets, net                              412,993         591,528
----------------------------------------------------------------------------
TOTAL ASSETS                                    869,179       1,152,197
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LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
Current Liabilities
Accounts Payable and Accrued Liabilities            707,147         787,594
Deferred Revenue                                     46,614          84,247
Promissory Note - Short-term                         24,999          58,464
----------------------------------------------------------------------------
Total Current Liabilities                      778,760         930,305

Promissory Note - Long Term                              --          28,971

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TOTAL LIABILITIES                               778,760         959,276
----------------------------------------------------------------------------

SHAREHOLDERS' EQUITY
Share Capital                                    15,113,752      14,759,008
Contributed Surplus                                 417,959         392,411
Deficit                                        (15,441,292)    (14,958,498)
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TOTAL SHAREHOLDERS' EQUITY                       90,419         192,921
----------------------------------------------------------------------------

----------------------------------------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY                                         869,179       1,152,197
----------------------------------------------------------------------------



ENGINEERING.com Incorporated
Statements of Income

(Cdn. $)                  (unaudited)  (unaudited)    (audited)    (audited)
Three Months Three Months         Year         Year
Ended        Ended        Ended        Ended
Dec. 31,     Dec. 31,     Dec. 31,     Dec. 31,
2009         2008         2009         2008
----------------------------------------------------------------------------

Revenue                       489,163      340,828    1,433,566    1,444,768
Cost of Sales                 192,741      145,394      499,735      495,348
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GROSS PROFIT                  296,422      195,434      933,831      949,420
----------------------------------------------------------------------------

Expenses
Salaries & Benefits      135,350      163,579      535,903      643,082
Marketing Expenses        18,803       10,946       86,905       38,556
Development Costs         55,528       72,212      263,067      233,187
General &
Administrative           79,642       42,527      307,203      313,530
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289,323      289,264    1,193,078    1,228,355
----------------------------------------------------------------------------

Operating Income/(Loss)
before Under-noted
Items:                         7,099     (93,830)    (259,247)    (278,935)
Stock Based
Compensation              (1,057)        3,444     (25,548)     (46,348)
Amortization Expense      (50,106)     (48,970)    (197,999)    (194,970)
----------------------------------------------------------------------------
Net Loss                     (44,063)    (139,356)    (482,794)    (520,253)
----------------------------------------------------------------------------


Basic and Diluted (Loss)
per Share                     (0.00)       (0.00)       (0.01)       (0.02)

Weighted Average Number
of Common Shares (basic
and diluted)              36,870,623   29,496,499   36,638,235   29,496,499
----------------------------------------------------------------------------


Consolidated Statements
of Deficit
----------------------------------------------------------------------------
Deficit, beginning
of period          (15,397,229) (14,819,142) (14,958,498) (14,438,245)
----------------------------------------------------------------------------
Net Income (Loss)       (44,063)    (139,356)    (482,794)    (520,253)
Deficit, end of
period             (15,441,292) (14,958,498) (15,441,292) (14,958,498)
----------------------------------------------------------------------------
----------------------------------------------------------------------------



ENGINEERING.com Incorporated
Cash Flow Statements

(Cdn. $)
(unaudited)  (unaudited)  (audited)  (audited)
Three Months Three Months       Year       Year
Ended        Ended      Ended      Ended
Dec. 31,     Dec. 31,   Dec. 31,   Dec. 31,
2009         2008       2009       2008
----------------------------------------------------------------------------

OPERATING ACTIVITIES
Net Loss                       (44,063)    (139,356)  (482,794)  (520,253)
ADD - Items Not Affecting
Cash
Stock Based Compensation         1,057      (3,444)     25,548     46,348
Amortization                    50,106       48,970    197,999    194,970
Changes in operating assets
and liabilities other than
cash                         (82,329)      126,119  (221,416)    348,066

----------------------------------------------------------------------------
CASH FROM OPERATING
ACTIVITIES                    (75,230)       32,289  (480,663)     69,131
----------------------------------------------------------------------------

FINANCING ACTIVITIES

Promissory Notes               (13,317)      (1,730)   (62,436)   (29,326)
Proceeds of Share issuance                              354,744
----------------------------------------------------------------------------

----------------------------------------------------------------------------
CASH FROM FINANCING
ACTIVITIES                    (13,317)      (1,730)    292,308   (29,326)
----------------------------------------------------------------------------

INVESTING ACTIVITIES
Additions to Property and
Equipment                      (4,905)        (446)   (17,515)   (16,733)

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CASH FROM INVESTING
ACTIVITIES                     (4,905)        (446)   (17,515)   (16,733)
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Net Increase (Decrease) in
Cash                            (93,452)       30,113  (205,870)     23,072


CASH, beginning of period         199,570      281,875    311,988    288,916
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CASH, end of period              106,118       311,988    106,118    311,988
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Engineering.Com
Balance Sheet
As at March 31, 2008
Unaudited       Audited

March 31,  December 31,
2010          2009
ASSETS
Current Assets
--------------
Cash                                                  148,017       106,118
Accounts Receivable                                   229,634       291,761
Prepaid Expenses and Deposits                          26,706        30,391

------------ -------------
Total Current Assets                                 404,357       428,270
------------ -------------

Property & Equipment, net                              26,588        27,916

Intangible Assets, net                                370,237       412,993

------------ -------------
TOTAL ASSETS                                         801,182       869,179
------------ -------------
------------ -------------

LIABILITIES AND SHAREHOLDERS EQUITY
LIABILITIES
Current Liabilities
-------------------
Accounts Payable & Accrued Liabilities                743,205       707,147
Deferred Income                                        65,818        46,614
Promissory notes - short-term                          16,035        24,999

------------ -------------
TOTAL LIABILITIES                                    825,058       778,760
------------ -------------

SHAREHOLDERS EQUITY
Share Capital                                      15,113,752    15,113,752
Contributed Surplus                                   424,196       417,959
Deficit                                          (15,561,824)  (15,441,292)

------------ -------------
TOTAL SHAREHOLDERS EQUITY                           (23,876)        90,419
------------ -------------

------------ -------------
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY              801,182       869,179
------------ -------------
------------ -------------



ENGINEERING.com
Statements of Income
Three       Three
(Unaudited)                                               months      months
ended       ended
March 31,   March 31,
2009        2009

REVENUE                                                 317,771      250,926

COST OF SALES                                            110,365      82,478
------------ -----------

GROSS PROFIT                                             207,406     168,448



EXPENSES (INCOME)
Salaries & benefits                                     134,018     145,284
Marketing expenses                                       19,797      22,079
Development costs                                        50,083      66,697
General & Administrative                                 68,226      68,363
------------ -----------
272,124     302,423
------------ -----------

Operating Income (Loss) (EBITDA) before under noted
items:                                                (64,718)   (133,975)

Stock based compensation                                (6,240)    (11,587)

Amortization Expense                                   (49,573)    (49,146)

------------ -----------
(55,813)    (60,733)
------------ -----------

------------ -----------
NET LOSS                                              (120,531)   (194,708)
------------ -----------
------------ -----------

BASIC AND DILUTED LOSS PER SHARE                         (0.00)      (0.01)

Weighted Average Number of Common Shares (basic and
diluted)                                           36,870,623   31,872,606

Consolidated Statements of Deficit

------------ -----------
DEFICIT, beginning of period                       (15,441,292)(14,958,498)
------------ -----------
Net Loss                                              (120,531)   (194,708)
DEFICIT, end of period                             (15,561,823)(15,153,206)
------------ -----------
------------ -----------



ENGINEERING.com Inc.
Cash Flow Statements
(Unaudited)
Three Months Three Months
Ended        Ended
March 31,    March 31,
2010         2009
OPERATING ACTIVITIES

Net loss                                             (120,531)    (194,708)

ADD - Items not affecting cash

Stock based compensation                                6,240       11,587

Amortization                                           49,573       49,146

Changes in operating assets and liabilities other
than cash                                             121,074     (80,194)

------------ ------------
CASH FLOWS FROM OPERATING ACTIVITIES                 (56,356)    (214,169)
------------ ------------

FINANCING ACTIVITIES

Promissory notes                                       (8,964)     (11,997)

Proceeds from share issuance                               --      357,706

------------ ------------
CASH FLOWS FROM FINANCING ACTIVITIES                  (8,964)      345,706
------------ ------------

INVESTING ACTIVITIES

Fixed assets                                          (5,489)      (3,055)

------------ ------------
CASH FLOWS FROM INVESTING ACTIVITIES                  (5,489)      (3,055)
------------ ------------


Net increase (decrease) in cash                         41,903       128,485

CASH, beginning of period                               106,118      311,988

------------ ------------
CASH, end of period                                    148,017       440,473
------------ ------------
------------ ------------

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

Contacts: ENGINEERING.com, Inc. John Hayes President & CFO 905-273-9991, ext. 280 or Toll Free: 1-877-997-9917 905-273-6691 (FAX) www.engineering.com