NEWS RELEASES

Minaean International Corp. (TSX VE: MIB; Berlin and Frankfurt Stock Exchanges: NJA) - Message to Shareholders from Mervyn Pinto, President & CEO

August 26, 2009

As President & CEO of Minaean, I would like to address the Company’s performance this past year, its present situation and enlighten you on its bright future prospects. I am confident that Minaean is headed to new heights. The 2^nd half of the last financial year and the first half of the present one, have felt the impact of the broad based downturn in the global economy. After the Company had declared a profit in the first quarter of the financial year 2008-09 and was anticipating its first profitable year, the cancellation of contracts due to the recession forced management to change its financial outlook and embark on a major cost cutting strategy. Unfortunately, the cost cutting measures and efficiencies created could not prevent the Company from showing a loss for the year. With the economy now showing signs of recovery and the Company’s strengths in the Indian market, where GDP is forecasted to grow at 5.5% this year and back to 8% next year, Minaean again sees a bright future.

SOME OF THE SIGNIFICANT OPPORTUNITIES MINAEAN IS WORKING ON IN INDIA:

Minaean has formed a consortium of companies to bid for contracts budgeted at US$ 125 million for the 2010 Commonwealth Games being hosted in New Delhi during October 2010. Inclusive in the budget is US$ 30 million for modular buildings, modular kiosks and porta-cabins.
With New Delhi working towards upgrading the city in preparation to host the Commonwealth Games, the state government has floated tenders for the construction of flyovers, 46 new bus depots and have placed an order for 2,500 trailer buses. Minaean has submitted a preliminary offer to produce and install 500 Bus Queue Shelters – a CAD$ 12 million contract.
While Minaean is enjoying a long term relationship with “Shell Petroleum” and receiving orders for the supply and installation of retail shop buildings at Shell gas stations, Minaean is also in negotiations with other Indian-government-supported oil companies for the supply and installation of similar buildings in the wake of a public announcement made in the Indian parliament for the construction of 2,600 gas stations throughout the country this year.
State Bank of India and other banks have announced plans to install 6,000 ATMs in the country out of which about 10% would be housed in modular kiosks. Having installed over 80 ATM Kiosks to-date, Minaean expects to get a share of this business.
Long term prospects include getting a portion of multi-million dollar contracts through Minaean’s involvement in the Government of India’s Financial inclusion program and NGO financed medical units.

PERFORMANCE DURING THE LAST FINANCIAL YEAR

In spite of the global economic downturn, Minaean achieved sales revenue of CAD$ 7.07 million for the financial year 2008-09 as compared with revenue of CAD$ 3.88 million during the previous year, representing a growth of 82%.
As the Company had expanded its overall production capacity to meet the execution needs of anticipated much larger contracts by leasing another larger facility in Mumbai during the first quarter of the last financial year, the losses due to extended overheads and cancellation of bad debts and other administrative costs in North America and India resulted in a loss of CAD$ 1.39 million or $ (0.04) a share.
A shut down of two of its three plants and a significant cut in the work force took place during the last quarter of the last financial year, as a result of some of the contracts in hand being cancelled and some of the outstanding receivables being converted into bad debt.

CAREFUL ASSESSMENT OF THE OPPORTUNITIES AND MOVE FORWARD PLAN

India’s growth is already on an upswing, a fact evidenced by the bullish stock market move - up by 56% since March 2009.
The re-election of the Congress party by an over-riding majority has re-asserted the people’s faith in the government and its infrastructure growth policies.
Minaean has well established market confidence in its present product lines which are modular buildings and street furniture. A careful assessment is being made for the Company’s expansion into infrastructure projects.
The present focus is to conclude some of the contracts presently under negotiation and achieve targeted forecasts to exceed CAD$ 10 million in revenues to maintain its consistent year over year growth.
Revamping of its production facilities and re-hiring of its laid off staff will be done in a phased manner as and when the contracts are awarded and are being executed.
The Company is working towards the formation of a consortium of companies to bid on contracts for the construction of Roads and Highways in partnership with a domestic well established company.
The continued support from Export Development Canada in mobilising working capital has boosted Minaean’s profile in bidding for the large projects mentioned above.

The last nine months have been very challenging and the change to the upside is forecasted to take place by the next quarter. Our team has worked diligently to preserve the Company’s value during this unprecedented difficult period and to position the Company for brighter times ahead. We are confident that, being strategically located in a country with much larger economic growth prospects, Minaean will achieve its forecasts and deliver positive results going forward. I would like to thank all of our shareholders for their patience and confidence.

Mervyn Pinto
President & CEO