Groupworks Announces Second Quarter Results

TORONTO, ONTARIO, Mar 31 (MARKET WIRE) --
Groupworks Financial Corp.("Groupworks" or the "Company") (TSX VENTURE:
GWC) announces its financial results for the second quarter and six
months ended February 29, 2008. Revenues were $1,902,000 and $3,160,300
respectively up from $903,700 and $1,254,100 in the prior year namely due
to an acquisition in the 4th Quarter of 2007. Operating margin for the
quarter was consistent with the prior year but improved to 35% from 25%
for the same six month period a year ago. EBITDA improved to $580,000 in
the second quarter, up from $275,000 last year and for the six months
ended, improved to $605,000 from and EBITDA loss of $(111,000) for the
same period. Net income increased to $214,900, doubling last year's
second quarter net income of $107,000. On a year to date basis the
Company continues to show improvement with $62,000 of net income versus a
loss of $193,800 reported for the same six months in fiscal 2007.

"Groupworks revenue growth demonstrates the successful integration of our
acquisitions. As a result, we more than doubled our revenues in the
quarter and increased operating margin. The Company experienced organic
revenue growth of approximately 7% year to date and is on target for an
annualized expectation of 5%. This performance is consistent with the
Company's strategy of aggregating small and medium sized group benefit
and pension advisory service businesses which enhance value to our
shareholders, clients, and our partners" said John Gallivan, President.

The Financial Statements and Management Discussion and Analysis for the
period ended February 29th, 2008, along with additional information about
the Corporation, including its prospectus dated April 27, 2007 and all
public filings are available on www.sedar.com.

Groupworks is a consolidator of independent benefits and pension
operations, consisting of a highly experienced and capable management
team that has a demonstrated track record of success.

Non GAAP Financial Measures

EBITDA is not an earnings measure recognized under GAAP and does not have
standardized meaning prescribed by GAAP. Therefore, it may not be
comparable to similar measures presented by other entities. Investors are
cautioned that these non-GAAP financial measures should not be construed
as an alternative to net income or loss determined in accordance with
GAAP as indicators of the Company's performance, or to cash flow from
operating, investing and financing activities as measures of liquidity
and cash flows.

Forward-Looking Information

This news release contains "forward-looking information" within the
meaning of applicable securities laws, such as information concerning
anticipated future events, results, circumstances, performance or
expectations that are not historical facts. Use of words such as "may",
"will", "expect", "believe", or other words of similar effect may
indicate forward-looking information. This information is not a guarantee
of future performance and is subject to numerous risks and uncertainties,
including those described in our publicly filed documents (which are
available on SEDAR at www.sedar.com). Those risks and uncertainties
include: our ability to maintain profitability and manage growth; strong
competition from other advisors and changes in the current legislation
could result in significant competition from the banking industry;
failure of information systems and technology; dependence on key clients;
seasonality of revenues and the resulting possible impairment on working
capital; reliance on key professionals; additional financing may be
required and may not be available under terms favourable to us; there can
be no assurance that any suitable future acquisition will be available to
us or that, if available, the terms of the acquisition will be favourable
to us; and a change in general economic conditions. Many of these risks
and uncertainties can affect our actual results and could cause our
actual results to differ materially from those expressed or implied in
any forward-looking information made by us or on our behalf. Given these
risks and uncertainties, investors should not place undue reliance on
forward looking information as a prediction of actual results. All
forward-looking information in this news release is qualified by these
cautionary statements. This information is made as of the date of this
news release and, except as required by applicable law, we undertake no
obligation to publicly update or revise any forward looking information,
whether as a result of new information, future events or otherwise.

Additionally, we undertake no obligation to comment on analyses,
expectations or statements made by third parties in respect of the
Company, its financial or operating results or its securities, except
where required by law.

Contacts:
Groupworks Financial Corp.
Christopher R. MacIntyre
IR
(905) 470-6588
(905) 470-6723 (FAX)
Email: cmacintyre@groupworkscorp.com

Copyright 2008, Market Wire, All rights reserved.

-0-