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Alphinat announces its results for the fiscal year ended august 31, 2008 and announces contracts with revenu Québec and ministère de la justice du Québec

MONTREAL (Quebec), December 16 2008 – Alphinat Inc. (TSX-VN : NPA) announces its results for the fiscal year ended August 31, 2008.

The 2008 fiscal year was characterized by consolidation and growth. After concluding the sale of the government license for SmartGuide to the Quebec government in 2007, Alphinat consolidated its position as an eGovernment software supplier by assisting various agencies and departments in deploying government services targeted at citizens and entrepreneurs. The Company’s successful implementations with the Quebec government drew international recognition that led to commercial dialogue between Alphinat and the French government. In September 2008, Alphinat announced its first European contracts by way of partnerships with large French systems integrators.

During fiscal 2008, Alphinat recognized revenue totaling $1,342,504 compared to $341,060 for 2007 and $111,550 for 2006. This increase represents an average annual growth of over 300%. Net losses for fiscal 2008 totaled $128,377 compared to a net loss of $890,969 for fiscal 2007. For the fourth quarter of fiscal 2008 alone, revenue totaled $545,317 and net income totaled $139,056.

Alphinat is pleased to announce that in December 2008 it has signed a contract with Revenu Québec for an amount of $354,500. This agreement follows the contract announced in July 2008 and will allow Revenu Québec to benefit from the support of the SmartGuide software experts at Alphinat for the implementation, evolution and use of this tool for the development of constituent-centric Internet services.

Furthermore, Alphinat announces that in December 2008 it has signed an agreement with the ministère de la Justice du Québec for an amount of $90,000 for the implementation of constituent-centric Internet services based on SmartGuide.

Alphinat’s financial statements and Management’s Discussion and Analysis for the period ending August 31, 2008 can be found on SEDAR, at www.sedar.com.

About Alphinat

At Alphinat, we are driven by the passion to make application development easy for everyone. It always struck us as odd that the people with the vision of how a finished application should look and behave would only be involved at the start of the process. After all, what better way to ensure a favourable outcome than to provide those closest to an application’s end-users with a vested interest in its success throughout its development?

That’s why we bring you new ways to empower the right people at the right time in the application development process. At the same time, we’re constantly working to reduce the need to code in order to make application development and maintenance simpler and less error-prone.

So whether you choose to develop your applications with the help of our low-code platform SmartGuide®, kickstart your project using one of our pre-built apps or engage us or one of our partners to do the work for you, we’re here to help you deploy better applications in record time. Visit https://www.alphinat.com for more information. We look forward to hearing from you.

Forward-looking statements

Certain statements in this document, including those which express management's expectations or estimations with regard to the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.

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