Minaean Announces Profit For Six Month Period

Vancouver, B.C. – Minaean International Corp. (TSX Venture: MIB; Berlin and Frankfurt Stock Exchanges: NJA) (“Minaean” or the “Company”) is pleased to announce its financial results for the six months ended September 30, 2008.

Highlights for six month period ended September 30, 2008

• Record revenues for the six months ended September 30, 2008 of $2,950,390 as compared to $2,569,953 for the six months ended September 30, 2007, representing a 15% increase.
• Net earnings of $19,637 for the six months ended September 30, 2008 as compared to net earnings of $69,733 for the same period in 2007.
• Completed private placement financing of 3,568,545 units at a price of $0.275 per unit for gross proceeds of $981,350.
• Expanded its “Modular Buildings” division to meet the needs of “OOH” Media groups to fabricate and install Bus Queue Shelters all over India. 
• Named the 21st fastest growing company in British Columbia by the Business in Vancouver (BIV) publication, BIV Top 100 List: Fastest Growing Companies, dated September 2-8, 2008.

Operations in India:
Retail Outlets:

• Contracted by Bharat Petroleum Corporation Limited to construct 452 sq ft retail outlet building for its existing gas stations in Bangalore which is undergoing remodeling and refurbishing. 

Bus Queue Shelters:

• Awarded a contract for the fabrication and installation of 200 units of its ultra modern steel Bus Queue Shelters in Mumbai, India, by two well-known advertising and media companies for the Mumbai Transit Authority.
• Awarded a contract for the supply of 100 Bus Queue Shelters in Bangalore, India by the Bangalore Public Transport Authorities

Operations in North America:

• Received a purchase order from Kerosiotis Developments for the supply and installation of “Artisan Quik-Build” structural wall panels and flooring system for its condominium project in Vancouver, British Columbia, Canada. The project, located on the crossroads of Waterloo Street and West Broadway in Vancouver, has been designed as a 4 storey residential and commercial development consisting of two 2,750 sq. ft. commercial units and 16 residential units ranging from approximately 620 sq. ft. to 1,050 sq. ft.
• Signed a contract with Yorke & Curtis, general contractors, for the supply and installation of “Artisan Quik-Build” structural wall panels and flooring system for its “Shaver Green” project, a 86,375 sq ft, six storey affordable housing building in Portland, Oregon, USA.  This development consists of five townhouse units, 80 apartment units, a community center and 32 parking stalls.

Summary of Results

For the period ended September 30, 2008, the Company recorded net income of $19,637 or $0.00 per share as compared to net earnings of $69,733 or $0.00 per share for the period ended September 30, 2007, a decrease in income by $50,096.  Due to the grant of stock options to directors, officers, employees and consultants during the quarter ended September 30, 2008, the Company incurred $153,856 in stock based compensation expense, a non-cash item, thereby reducing net profits for the six months to $ 19,637.  The comparative period incurred $5,587 in stock based compensation expense.

The Company’s Indian subsidiary, Minaean Habitat (India) Pvt Ltd. had record revenues of $1,991,861 for the period ended September 30, 2008 compared to $506,164 for the same period in 2007, an increase of $1,485,697 or 394%, mainly as a result of the construction of bus queue shelters, and ATM units located in Central and Western Railway Stations in Mumbai, India.  The Company experienced a robust growth even though a much anticipated lean forecast was expected during the monsoon season in India. The Company’s North American subsidiary, Minaean Power Structures, also contributed $958,529 towards current revenues through the beginning construction phases of Sunrose Condominium, a four storey complex superstructure located in Portland, Oregon, USA, and Shaver Green, a six storey affordable housing building also located in Portland, Oregon.

“Minaean’s transition from a negative to a positive territory and the net profit declared in this quarterly statement justifies the optimistic consistent growth the Company has achieved starting in this current financial year. ” says Mervyn Pinto, President & CEO of the Company.  “The commitment to the investors of the Company being able to achieve its breakeven by December, 2008 has been achieved earlier then planned by 6 months and the Company expects to maintain the momentum as we move ahead.”  Though the recession worldwide is hurting the growth sectors, Minaean’s involvement in street furniture and modular buildings in the growing Indian economy is the key element to its success. The 2nd half of the year is going to be more exciting for Minaean with the Company poised to achieve better revenues.”  

About Minaean  

Minaean International Corp., manufactures rapid, efficient building systems using light-gauge steel.  Minaean's Vesta Quik-BuildTM, Artisan Quik-BuildTM construction systems are available for houses and buildings of up to eight stories.  The launching of “modular buildings and structures” designed, engineered and prefabricated in the factory environment, capable of being assembled and delivered within the shortest period has proved   the Company’s pioneering capabilities in innovative construction technologies.  The strong, affordable, ecologically sustainable structures present a promising solution to the mass housing shortages in developing countries and disaster-stricken areas, in addition to a range of conventional applications.

Shares of Minaean International Corporation (parent company) are publicly traded on the TSX Venture Exchange under the symbol "MIB" and on the Berlin and Frankfurt Stock Exchanges under the symbol "NJA".  For more information, please visit www.minaean.com.

On behalf of the Board of Directors
MINAEAN INTERNATIONAL CORP.

“ Mervyn Pinto ”
Mervyn Pinto
President & Director

"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."