Enablence Technologies Inc. Announces Year End Results for Fiscal Year 2008

Enablence Technologies Inc. ("Enablence Technologies" or the "Company") (TSX VENTURE: ENA), a leading supplier of fiber-to-the-home (FTTH) equipment for triple-play residential and business services and optical components and subsystems for access, metro and long haul markets, today announced financial results for the year ended April 30, 2008.

Sales for fiscal 2008 were $3.2 million compared to the $0.1 million generated during fiscal year 2007. Enablence's total assets increased to $107.8 million at April 30, 2008 from $26.9 million at April 30, 2007. The Company's cash position was $47.2 million on April 30, 2008 as contrasted with $16.3 million on April 30, 2007. The net loss for fiscal 2008 was $11.3 million, of which $5.2 million consisted of non-cash charges. These charges were largely due to added depreciation as a result of an increased asset base and charges related to the previously granted options, generating a loss per share of $0.08. The loss for the previous fiscal year ending April 30, 2007 was $7.5 million of which $3.3 million consisted of non-cash charges.

The Company achieved a number of non-financial milestones during the past fiscal year:

- selected by the Toronto Stock Exchange as one of the top 50 TSX Venture companies and the third best performing technology and life sciences company in all of the Venture exchange companies based on a ranking formula that includes revenue, return on investment, market cap growth and trading volume;

- successful completion of its qualification program of its Planar Lightwave Circuit (PLC) based transceivers built at its high-volume production line at Sanmina-SCI. The qualification program was completed in accordance with Telcordia GR-468-CORE which outlines general reliability requirements for optoelectronic devices used in telecommunications system;

- successful demonstration of an operational Fiber-to-the-Home system using its Planar Lightwave Circuit (PLC) based Transceiver in August, 2007. The demonstration was the first public display of triple-play services running on a truly integrated PLC based Transceiver inside a commercially available Fiber-to-the-Home system. The Enablence transceiver ran High Definition Television (HDTV), internet, voice and data services transmitted on a single optical fiber over a 20 km distance;

- completed the acquisition of ANDevices, Inc., a supplier of silica on silicon components and subsystems products and the foundry that manufacturers the PLC substrates used in the manufacture of optical transceivers;

- subsequent to year end, Enablence signed a definitive agreement and subsequently completed a transaction to acquire Wave7 Optics, Inc., a global provider of Fiber to the Home ("FTTH") systems that deliver voice, video and data services; and

- the Company has started to ramp its optical transceiver production capabilities and integration of the optical block into the ONT (Optical Network Terminal) with increased higher value added sales anticipated in Q2 and Q3 FY2009; and

- subsequent to the year end, the Corporation, announced on July 10, 2008 that it had signed a definitive Asset Purchase Agreement with DuPont Photonics Technologies LLC ("DuPont Photonics"), a wholly owned subsidiary of E.I. du Pont de Nemours and Company ("DuPont") (NYSE: DD) to acquire the assets of DuPont Photonics. Concurrent with the agreement, DuPont will make a cash investment in the Corporation. This transaction is expected to close on July 31, 2008.

"Enablence is pleased to report a successful growth year with significant progress in and addition to its product lines," announced Arvind Chhatbar, the Chief Executive Officer of Enablence Technologies Inc. "Industry partners continue to recognize the significance of planar lightwave circuit technology solutions. PLC-based solutions are becoming pervasive throughout all optical networks, and are beginning to displace bulk optics across these networks."

"Our goal is to lead this change by providing optical network solutions that will position our customers to profit from the growing bandwidth demand that will require solutions that Enablence delivers" explained Mr. Chhatbar.

About Enablence Technologies Inc.

Enablence Technologies Inc., (TSX VENTURE: ENA) a publicly traded company, designs, manufactures and sells optical components, subsystems and systems to a global customer base. With corporate headquarters in Ottawa, Ontario, Canada, the company has two divisions, the FTTx Networks Division and the Optical Components & Subsystems Division, which provide products for access, metro and the long haul optical communications applications. The company's component products rely on proprietary planar lightwave circuit (PLC) technology to integrate multiple components into a single optical chip to address the global rollout of Fiber to the Home (FTTH).

The FTTx Networks division is an industry leader in optical broadband access systems, with an expanding Fiber-to-the-Premise (FTTP) product portfolio featuring a variety of architectural options, based on IP and Ethernet standards, for triple-play voice, video and data services. The company's Trident7(TM) Universal Access Platform is rapidly gaining market share around the world with service providers in the PTT ("Public Telephone & Telegraph"), IOC ("Independent Operating Carrier"), CLEC ("Competitive Local Exchange Carrier"), MSO ("Multiple System Operator"), municipal, utility and real estate development categories.

Forward Looking Statements

The statements in this press release may contain forward looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Corporation's expectations and projections. The TSX Venture Exchange has not approved this press release and does not accept responsibility for the adequacy or accuracy of this press release.

Contacts:
Enablence Technologies Inc.
Arvind Chhatbar
Chief Executive Officer
613-270-7859
613-270-7850 (FAX)
info@enablence.com
www.enablence.com

SOURCE: Enablence Technologies Inc.

mailto:info@enablence.com
http://www.enablence.com

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