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Naturally Advanced Reports Preliminary Fourth Quarter and Year-end 2008 Results

Posted on: Friday, 6 March 2009, 17:07 CST

PORTLAND, OR, March 6 /PRNewswire-FirstCall/ - Naturally Advanced Technologies Inc. (NAT, OTCBB: NADVF, TSXV: NAT), reported preliminary results for its fourth quarter and full year ended December 31, 2008. "We are working diligently to bring our CRAILAR(TM) products to market in 2009, and I am encouraged by our progress," stated Ken Barker, NAT's CEO. "As announced, we have successfully been conducting various CRAILAR Organic Fiber trials with Hanesbrands Inc. CRAILAR has proven we can deliver industrial hemp blend yarn using conventional cotton equipment without any modifications. In addition, we are progressing with our Advanced Materials program, which will enable industrial hemp to be used for large-scale production of consumer absorbent pulp and paper products and performance yarns used in performance and protective apparel."

For the fourth quarter ended December 31, 2008, HTnaturals expects to post sales of approximately $418,000, compared to $684,000 in the fourth quarter of 2007. For the fourth quarter ended December 31, 2008 net loss is expected to be approximately $785,000, compared to $953,000 in the fourth quarter of 2007.

Full year 2008 sales are expected to be approximately $2.6 million, compared to $2.5 million recorded in the same period in 2007. Full year 2008 net loss is expected to be approximately $3.2 million, which includes $548,000 of research and development for development of the CRAILAR technology platform, $155,000 of listing expenses, and $672,000 of stock-based compensation. This compares to a net loss $1.9 million, which included $267,000 of research and development, stock-based compensation of $469,000, but did not include listing expenses, for the full year 2007.

"Our loss increased due to expenses related to our listing requirements and non cash stock-based compensation as well as the costs related to the commercialization of our technology," concluded Barker.

About Naturally Advanced Technologies, Inc.

Naturally Advanced Technologies Inc. is committed to unlocking the potential of renewable and environmentally sustainable biomass resources from hemp and other bast fibers. The Company, through its wholly owned subsidiary, Crailar Fiber Technologies Inc., is developing proprietary technologies for production of bast fibers, cellulose pulp, and their resulting by-products, in collaboration with Canada's National Research Council and the Alberta Research Council. CRAILAR(R) technology offers cost-effective and environmentally sustainable processing and production of natural, bast fibers such as hemp and flax, resulting in increased performance characteristics for use in textile, industrial, energy, medical and composite material applications. The Company is also a provider of sustainable, environmentally friendly fibers and fabrics through its apparel division HTnaturals. Founded in 1998 in response to the growing demand for environmentally friendly, socially responsible clothing, the Company adheres to a "triple bottom line" philosophy, respecting the human rights of employees, the environmental impact of the Company's operations and fiscal responsibility to its shareholders. See www.naturallyadvanced.com

Safe Harbor Statement This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act of 1934 and the provisions of the Private Securities Litigation Reform Act of 1995 and is subject to safe harbor created by these sections. Actual results may differ materially due to a number of risks, including, but not limited to, technological and operational challenges, needs for additional capital, changes in consumer preferences, risks associated with: market acceptance and technological changes; dependence on manufacturing and material supplies providers; international operations; and competition.

SOURCE Naturally Advanced Technologies Inc.

Source: PR Newswire

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