05/20/2008

Clearford Announces Results for the First Quarter of Fiscal Year 2008

Ottawa, Ontario – (May 20, 2008) -Clearford Industries Inc. (“Clearford”, TSX-V: CLI) today announced financial results for the first quarter of 2008, which ended March 31, 2008 (all figures in Canadian dollars and in accordance with Canadian GAAP).

Clearford’s revenue is generated primarily from the Brooklin Concrete Division, whose revenues and earnings were negatively affected by unusually poor construction weather throughout Ontario in February and March. These delayed revenues are expected to be earned during the next two quarters. The Wastewater Division recorded no revenue during the current quarter as compared to $125,000 of revenue and contribution for the same period of the prior year. Revenue for the first quarter was $1,407,000 compared to $1,635,000 revenue for the same period of the prior year and $6,507,000 of revenue for the fourth quarter of 2007. Gross margin was ($215,000) compared to $142,000 gross margin for the same period of the prior year and $2,392,000 for the fourth quarter of 2007. Operating loss for the quarter was $2,269,000 compared to an operating loss of $1,992,000 for the same period of the prior year and an operating income of $122,000 for the fourth quarter of 2007. Net loss for the first quarter was $3,303,0000 or $0.13 per share compared to a net loss of $2,991,000 or $0.12 per share for the same period of the prior year and a net loss of $922,000 or $0.03 per share for the fourth quarter of 2007.

Revenue and contribution from the Brooklin Division during the first quarter were down from the same period of the prior year due to the impact of the near record snowfall levels, combined with the impact of carrying out certain annual maintenance and supply activities which were originally planned for later in the year.

For the first quarter of 2008 cash used in operations was $1,877,000 compared to cash used in operations of $1,997,000 for the same period of the prior year and cash used in operations $691,000 for the fourth quarter of 2007.

“The Wastewater Division continues to experience what I believe to be an unequal regulatory review across municipalities in Ontario. It is my view that these challenges reflect a bias towards the historic methods of servicing, despite the superior environmental and cost performance advantages of the Clearford Small Bore Sewer system. This resistance to change has continued to delay and prevent revenue opportunities,” stated Bruce Linton, President and CEO of Clearford. “The Brooklin Concrete Division performed relatively well in Q1, given the incredible volumes of snow and resulting impact on many construction works throughout Ontario.”

Forward-Looking Statements
Any forward looking statements made in this press release involve risks and uncertainties, and actual results could differ materially from those expressed or implied in such statements. However, we disclaim any intention and 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.
Clearford Industries Inc. is comprised of two divisions: the Wastewater Systems Division and the Brooklin Concrete Division. The Wastewater Systems Division designs and implements the patented Small Bore Sewer™ (SBS™), a watertight small diameter wastewater collection system for developers, municipalities and First Nations communities who need to create, expand or upgrade their sewage systems. This solution provides servicing with superior operational and environmental performance at a significantly lower cost when compared to historic gravity sewers. With its first installation in 1989, the SBS™ has since had several installations within Canada and the U.S. The Brooklin Concrete Division has been in operation since 1952, with 4 locations in Ontario, including: Brooklin, Newmarket, Huntsville and Haliburton. A leading producer of septic tanks in Ontario, Brooklin manufactures precast concrete products ranging from interlocking pavers and patio slabs, to retaining walls and storage structures. For more information on Clearford Industries Inc., please visit www.clearford.com.

For more information contact:
Mr. Bruce Linton
President and CEO
Clearford Industries Inc.
Phone: (613) 599-6474 ext. 301
www.clearford.com