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Westaim announces 2008 year-end results
Date:2/18/2009

his information at any date other than the date of this news release. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

    THE WESTAIM CORPORATION
    Financial Highlights
    (unaudited)
    (thousands of dollars except per share data)


    -------------------------------------------------------------------------

                                  Three Months Ended     Twelve Months Ended
                                      December 31             December 31
                                  ------------------     -------------------
    Consolidated Statements
     of Operations                  2008        2007        2008        2007
    -------------------------------------------------------------------------

    Revenue                    $   6,969   $  11,174   $  22,397   $  31,830
    (Loss) income from
     continuing operations        (1,224)      1,169      (1,735)     (2,830)
    Net income (loss)              2,746     (26,807)    (10,235)    (58,033)
    Net (loss) income per
     common share - basic and
     diluted
      Continuing operations        (0.01)       0.01       (0.02)      (0.03)
      Net income (loss)             0.03       (0.28)      (0.11)      (0.62)
    Weighted average number
     of common shares
     outstanding (thousands)      94,215      94,136      94,207      94,070



    -------------------------------------------------------------------------

                                  Three Months Ended     Twelve Months Ended
                                      December 31             December 31
                                  ------------------     -------------------
    Segmented Information           2008        2007        2008        2007
    -------------------------------------------------------------------------
    Revenue from continuing
     operations
      Nucryst Pharmac
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SOURCE Westaim Corporation
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