Clearford Announces Results for the Third Quarter of Fiscal Year 2007

Clearford's revenue arises primarily from the Brooklin Concrete Division,which operations are seasonally affected by construction weather conditions.Revenue for the third quarter was $8,300,000 compared to $7,662,000 for thesame period of the prior year and $8,001,000 of revenue for the second quarterof 2007. Gross margin was $3,566,000 compared to $3,634,000 for the sameperiod of the prior year and $3,490,000 for the second quarter of 2007.Operating income for the quarter was $1,238,000 compared to an operatingincome of $1,381,000 for the same period of the prior year and an operatingincome of $1,198,000 for the second quarter of 2007. Net income for the thirdquarter was $185,000 or $0.01 per share compared to a net income of $432,000or $0.02 per share for the same period of the prior year and a net income of$132,000 or $0.01 per share for the second quarter of 2007. The decrease innet income as compared to the prior year's same quarter was due to acombination of the gross margin effect of the change in sales product mix andcustomer price incentives at the Brooklin Concrete Division, and higherdepreciation expense due to an increase in value of certain fixed assetsfollowing a financial asset valuation in late 2006 and interest expense.

Revenue for the nine months ended September 30, 2007 was $17,937,000compared to $16,806,000 for the same period of the prior year. Gross marginwas $7,198,000 compared to $7,181,000 for the same period of the prior year.The operating income for the nine months was $444,000 compared to an operatingincome of $855,000 for the same period of the prior year. The nine monthsperiod for the current year is not fully comparable to the prior year becausethe prior year's operating income does not include $484,000 of losses duringJanuary 2006 associated with the pre-acquisition period of Brooklin and doesnot reflect the additional depreciation charges incurred in the current yearin excess of $300,000 relating to the increase in value of certain fixedassets following a financial asset valuation in late 2006. The net loss forthe nine months was $2,673,000 or $0.11 per share compared to a net loss of$1,724,000 or $0.07 per share for the same period of the prior year.

For the third quarter of 2007 cash flow from operations was $1,310,000compared to cash flow from operations of $1,538,000 for the same period of theprior year and $869,000 for the second quarter of this year. For the ninemonth period cash flow from operations was $182,000 compared to cash flow fromoperations of $65,000 for the same period of the prior year.

The Wastewater Division recorded no revenues during the third quarter of2007 though revenue is expected in the fourth quarter of this year. TheBrooklin Concrete Division continues to increase sales and market share. Thisperformance is expected to continue on a seasonally adjusted basis into thefourth quarter. Seasonal factors are expected to result in a loss for thefourth quarter.

"The third quarter was marked by continued strong channel and directdistribution sales of the Brooklin product offering," stated Bruce Linton,President and CEO of Clearford. "We have a strong pipeline of salesopportunities for our Wastewater Division and expect revenue and contributionfrom that Division in the fourth quarter and in 2008. The market forinfrastructure remains strong and we remain confident that this segment of themarket will provide both of our operating divisions with significant growthpotential."

Forward-Looking Statements

Any forward looking statements made in this press release involve risksand uncertainties, and actual results could differ materially from thoseexpressed or implied in such statements. However, we disclaim any intentionand assume no obligation to update or revise any forward-looking statements,whether as a result of new information, future events or otherwise.

    The TSX Venture Exchange does not accept responsibility for the adequacy    or accuracy of this release. More detailed information of the matters    described herein is included in the public documents Clearford files from    time to time with Canadian securities regulatory authorities.    About Clearford Industries Inc.

For further information

Mr. Bruce Linton, President and CEO, ClearfordIndustries Inc., (613) 599-6474 ext. 301,