ENGINEERING.com Incorporated TSX VENTURE: EGN

TORONTO, ONTARIO--(Marketwire - Nov. 4, 2008) - ENGINEERING.com Incorporated (TSX VENTURE:EGN), developer of the ENGINEERING.com online resource and business for engineers today announced its financial results for the third quarter of 2008.

ENGINEERING.com revenue was $399,136 for the three months ended September 30, 2008, compared to revenue of $566,176 for the third quarter of 2007. The net loss for the three months ended September 30, 2008, totaled ($113,003) and ($0.00) per Common Share compared with a net loss of ($66,220) and ($0.00) for the same period a year ago.

The Company experienced sales growth during the third quarter and year to date from sales of education titles, most notably CATIA and from increases in online advertising revenue. Total reported revenue for the quarter declined, however, due to the impact of declines in revenues from a formerly related party, Rand Worldwide.

Operating profit (EBITDA) measured as earnings before interest, taxes, amortization and stock-based compensation, was a loss of ($47,751) or $0.00 per Common Share for the third quarter of 2008 compared with an operating profit of $4,684 or ($0.00) per Common Share for the three months ended September 30, 2007. The operating expenses in the latest period were $310,136 compared to $341,027 for the third quarter a year earlier.

"During the third quarter the Company experienced strong growth in the number of visitors to our website and record gains in new members," said John Hayes, President of ENGINEERING.com. "This in turn is generating a growing stream of advertising revenue."

As at September 30, 2008, the Company had a cash balance of $281,875 compared to a cash balance of $183,522 as at September 30, 2007.

About ENGINEERING.com Incorporated

ENGINEERING.com Incorporated (TSX VENTURE:EGN) is the developer-owner of the www.ENGINEERING.com Web site and Internet-based software and business. ENGINEERING.com offers hosted and deployed engineering software and services to manufacturers, design consultants and engineering academia around the world. The ENGINEERING.com Incorporated head office is located in Mississauga, Ontario, Canada and can be reached toll-free at 1-877-997-9917, by facsimile at 905-273-6691 or through the Internet at www.ENGINEERING.com.

EBITDA

EBITDA is defined by the Company as operating income before interest expense, income taxes, amortization, stock-based compensation and asset dispositions. The Company has included information concerning EBITDA because it believes that EBITDA is used by certain investors as one measure of the Company's financial performance. EBITDA is not a measure of financial performance under Canadian generally accepted accounting principles and is not necessarily comparable to similarly titled measures used by other companies. EBITDA should not be construed as an alternative to operating income or to cash flows from operating activities (as determined in accordance with Canadian generally accepted accounting principles) as a measure of liquidity.

Forward Looking Statements

This press release may contain forward-looking statements based on management's current projections, beliefs and opinions at the date of this press release. Actual results could differ materially from those anticipated in these statements. ENGINEERING.com Incorporated undertakes no responsibility to update forward-looking statements if circumstances or management's projections, beliefs or opinions change.

The contents of this News Release have been reviewed and approved by the Audit Committee and the Board of Directors.

Engineering.Com
Balance Sheet
                                               Unaudited            Audited


                                               September           December
                                                30, 2008           31, 2007
ASSETS
Current Assets
--------------
 Cash                                            281,875            288,916
 Accounts Receivable                             238,520            146,063
 Prepaid Expenses and Deposits                    27,917             58,044
 Due from related parties                              -            330,557


                                              -----------        -----------
 Total Current Assets                            548,312            823,580
                                              -----------        -----------


 Capital Assets, net                              33,756             29,567


 Intangible Assets, net                          636,162            770,063


                                              -----------        -----------
TOTAL ASSETS                                   1,218,230          1,623,210
                                              -----------        -----------
                                              -----------        -----------


LIABILITIES AND SHAREHOLDERS EQUITY
LIABILITIES
Current Liabilities
-------------------
 Accounts Payable & Accrued Liabilities          748,253            768,878
 Deferred Income                                  45,091             70,745
 Promissory notes - short-term                    51,082             47,582


                                              -----------        -----------
 Total current liabilities                       844,426            887,205
                                              -----------        -----------


 Promissory notes - long-term                     38,083             69,179


                                              -----------        -----------
TOTAL LIABILITIES                                882,509            956,384
                                              -----------        -----------
                                              -----------        -----------


SHAREHOLDERS EQUITY
 Share Capital                                14,759,008         14,759,008
 Contributed Surplus                             395,855            346,063
 Deficit                                     (14,819,142)       (14,438,245)


                                              -----------        -----------
 TOTAL SHAREHOLDERS EQUITY                       335,721            666,826
                                              -----------        -----------


                                              -----------        -----------
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY      1,218,230          1,623,210
                                              -----------        -----------
                                              -----------        -----------





Engineering.Com
Statements of Income
(Unaudited)                                     Three months   Three months
                                                       ended          ended
                                                   September      September
                                                    30, 2008       30, 2007


REVENUE                                              399,136        566,176


COST OF SALES                                        136,751        220,465
                                                 ------------   ------------


GROSS PROFIT                                         262,385        345,711



EXPENSES (INCOME)
 Salaries & benefits                                 168,106        179,612
 Marketing expenses                                    8,286          4,911
 Development costs                                    49,806         51,347
 General & Administrative                             83,938        105,157
                                                 ------------   ------------
                                                     310,136        341,027
                                                 ------------   ------------


 Operating Income (Loss) (EBITDA) before under
  noted items:                                       (47,751)         4,684


 Stock based compensation                            (16,334)       (21,467)


 Amortization expense                                (48,918)       (49,437)


                                                 ------------   ------------
                                                     (65,252)       (70,904)
                                                 ------------   ------------


                                                 ------------   ------------
 NET LOSS                                           (113,003)       (66,220)
                                                 ------------   ------------
                                                 ------------   ------------


 BASIC AND DILUTED LOSS PER SHARE                      (0.00)         (0.00)


 Weighted Average Number of Common Shares
  (basic and diluted)                             29,496,499     29,496,499


Consolidated Statements of Deficit


                                                 ------------   ------------
 DEFICIT, beginning of period                    (14,706,139)   (14,359,309)
 Net Loss                                           (113,003)       (66,220)
                                                 ------------   ------------
 DEFICIT, end of period                          (14,819,142)   (14,425,529)
                                                 ------------   ------------
                                                 ------------   ------------





Engineering.Com Inc.
Cash Flow Statements
(Unaudited)
                                           Three Months        Three Months
                                                  Ended               Ended
                                              September           September
                                               30, 2008            30, 2007


OPERATING ACTIVITIES


 Net Loss                                      (113,003)            (66,220)


 ADD - Items not affecting cash


 Stock based compensation                        16,334              21,467


 Amortization                                    48,918              49,437


 Changes in operating assets and
  liabilities other than cash                   (44,789)             10,438


                                           -------------        ------------
 CASH FLOWS FROM OPERATING ACTIVITIES           (92,540)             15,122
                                           -------------        ------------


FINANCING ACTIVITIES


 Promissory Notes                                (8,508)            (58,100)


                                           -------------        ------------
 CASH FLOWS FROM FINANCING ACTIVITIES            (8,508)            (58,100)
                                           -------------        ------------


INVESTING ACTIVITIES


 Fixed Assets                                    (6,134)             (3,768)


                                           -------------        ------------
 CASH FLOWS FROM INVESTING ACTIVITIES            (6,134)             (3,768)
                                           -------------        ------------


Net increase (decrease) in cash                (107,182)            (46,746)


CASH, beginning of period                       389,057             230,268


                                           -------------        ------------
CASH, end of period                             281,875             183,522
                                           -------------        ------------
                                           -------------        ------------

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.