now we are stockholders of Universal Wing ...that was the issue...now back to TN

Austin Developments Corp. (TSX.V- AUL) ("the Company") announces that it has located a third party investor to assist in the restructure of its wholly owned subsidiary Universal Wing Geophysics Corp. ("Universal").

Universal Wing is an airborne surveying company specializing in the commercial use of unmanned airborne systems (UAS) for data collection. Austin originally acquired Universal in 2006 as a new technological tool for oil and gas exploration. It was never intended to replace the Company’s core resource business. With the current financial environment it has been difficult to raise money to support Universal without significantly diluting the parent company. Austin is pleased to announce that we have located an investor for Universal Wing with the financial resources to help develop Universal to the point where it can become a completely separate company.

Universal will settle existing debt by issuing shares for debt. Austin Developments will be issued 5,256,228 shares of Universal under the terms of the debt settlement, Universal’s other creditors will be issued 4,833,333 shares of Universal and the new investor Discovery Harbour Resources Corp. will be issued 5,500,000 shares of Universal for its cash investment of $330,000.

Declan Sweeney, current Chief Executive Officer of Austin states "We are very excited to welcome Discovery Harbour as an investor to Universal. Their involvement with Universal works on many levels for Austin. Firstly, it releases Austin from its ongoing commitments to finance Universal on a day to day basis and secondly, it gives Austin shareholders the best chance to recoup Austin’s investment dollars in Universal to date. Austin officers and Directors continue to be involved with Universal from a management perspective and will be completely involved in the decision when and whether to take Universal public in the future when the time