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Alphinat announces results for the fiscal year ended August 31, 2007

MONTREAL (Quebec), December 28 2007 – Alphinat Inc. (TSX-VN : NPA) today announced its results for the fiscal year ended August 31, 2007.

The 2007 fiscal year marked a turning point in the evolution of the Company. During this year, the Company moved from the research and development phase into commercialisation. The transition began with the hiring of an Executive Vice President of Sales and Business Development, on November 22, 2006.

The Company sold two licences during the fiscal year. The first of these, completed during the first quarter, was to a systems integrator partner and was valued at $150,000. The second sale, made during the third quarter, was to the Government of Québec for $1,012,000, including $75,000 in training and installation services. As a result of the latter agreement, the SmartGuide suite is now available to Government of Québec ministries and departments wishing to implement online solutions that give the public direct access to their services.

The company reported revenue of $341,060 for the fiscal year; sales balances are recorded as deferred revenue collected in advance. Of $851,750 in deferred revenue, $576,875 in sales licences will be recognized as revenue for the 2008 fiscal year. In addition, $262,500 in services will be recognized in accordance with the percentage-of-completion method.

While the financial statements indicate a loss of $890,969, cash flow for fiscal 2007 was positive, with $357,780 from operating activities.

Alphinat’s financial statements and Management’s Discussion and Analysis for the period ending August 31, 2007 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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