Re Contract

FOR:  GENESIS WORLDWIDE INC.

TSX, AIM SYMBOL:  GWI

March 31, 2008

Genesis Worldwide Inc. Continues Expansion Into European Market

Signs License and Services Agreement for Ukraine Market

MISSISSAUGA, ONTARIO--(Marketwire - March 31, 2008) - Genesis Worldwide Inc. ("Genesis" or the "Company"),
(TSX:GWI)(AIM:GWI), an industry leader in "green" structural building technologies using light gauge steel, is
pleased to announce that it has entered into a license and services agreement (the "Agreement") with Spelera
Holdings Limited ("Spelera"), based in Cyprus. Spelera is a special purpose entity established for investment
in building materials, traditional construction, and real estate development projects in Ukraine. The Agreement
initially calls for the construction of a light steel panel manufacturing facility in the industrial city of
Dnipropetrovs'k, Ukraine, with the potential for further expansion.

This announcement follows on the heels of similar license and services agreements that were announced in 2007
for Spain, and in early 2008 for Russia. For Genesis, this is another step in the successful execution of the
Company's planned growth strategy, particularly in Europe.

Under the terms of the Agreement, Spelera will pay Genesis US$2.2 million from licensing the Genesis
technology, the sale of industrial equipment and hardware, and various training and consulting services
required for the commissioning of the plant. Spelera will be the exclusive provider of Genesis building systems
in Ukraine, and will maintain exclusivity as long as annual minimum gross sales targets are achieved. This
Agreement is for a five-year period and will automatically renew for an additional five-year period.

The burgeoning European market is a major element of Genesis' growth strategy, and this new licensee Agreement
significantly enhances the Company's presence in Europe. Dnipropetrovs'k, the third largest city in Ukraine, is
the centre of the region's steel industry. The plant is scheduled to be completed and operational by the end of
2008, and will begin to meet the growing demand in Ukraine for desirable, architecturally designed homes,
constructed with light gauge steel panels.

Eastern Europe, and Ukraine in particular, is one of the fastest growing construction markets in the world.
Ukraine, which continues to rebuild after the Soviet era, has an energized economy and offers many
opportunities for foreign investors. According to the CIA World Fact Book website, as of July 2007, the
population of Ukraine was 46,299,862, with a GDP growth rate of almost 7%. The Construction Ukraine website
states that "Cottages/single-family houses became the most popular sector of housing in Ukraine (in 2007)", and
the Institute for Economic Research and Policy Consulting recognizes in their macroeconomic forecast that
Ukraine construction will continue to increase due to investment activity as well as a high demand for
residential construction.

"We recognize that there is an increasingly affluent middle-class in Ukraine and a need for improved housing to
suit consumer needs," said Mag Mostafa, Genesis' Vice-President, Business Development. "We researched and
provided in-depth analysis of the local Ukraine construction market in order to help Spelera recognize the
potential within the marketplace." As part of the project, Genesis completed a competitive analysis, as well as
a complete analysis from an engineering and marketing perspective.

New, gated-communities are being established in Dnipropetrovs'k and throughout Ukraine to accommodate the needs
of its population and Spelera sees the turn-key Genesis Solution as a reliable, time-efficient and cost-
effective way to build top quality homes. The Genesis Solution includes leading-edge software, industrial
equipment, hardware, processes and engineering services.

"We expect that light gauge steel will become a superior and cost effective alternative to concrete, brick and
wood frame homes in Ukraine. Consumers should be attracted to the complete flexibility that light steel offers.
It allows them to choose different architectural designs and not be restricted to cookie-cutter style housing,"
said Spelera's Chief of Operations in Ukraine, Edward Sartan. "From our perspective, Genesis will quickly
become the number one choice in our market for people who would like to have homes with unique styles built
quickly-and built to last."

"We are very excited by this latest announcement. We have consistently demonstrated that Genesis offers
complete business plans to its licensees from the beginning of the licensing agreement through all the key
stages as the licensee strives to achieve success in their markets," said Genesis' President and Chief
Executive Officer, Vince Mifsud. "We are committed to our strategy to expand throughout Europe, including
Eastern Europe, and around the world. We are opening a new sales office in the United Kingdom with this very
objective in mind, to focus on major licensing agreements in selected European markets."

About Genesis Worldwide Inc.

Genesis develops and licenses structural building technology aimed at the residential, commercial and
institutional building markets. Genesis offers licensees a turn-key solution enabling them to custom design,
manufacture and install complete light steel building structures. The Genesis Solution encompasses engineered
processes and materials that are environmentally sustainable or "green". Genesis is headquartered in
Mississauga, Ontario, Canada and currently has nine licensees worldwide. For additional information about the
Company, visit www.genesisworldwide.com.

Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information within the meaning of
securities laws. Forward-looking information may relate to the Company's future outlook and anticipated events
or results and, in some cases, can be identified by terminology such as "may", "will", "should", "expect",
"plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar
expressions concerning matters that are not historical facts. These statements are based on certain factors and
assumptions including expected growth, results of operations, performance and business prospects and
opportunities. While the Company considers these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect. Forward-looking information is also subject to certain
factors, including risks and uncertainties that could cause actual results to differ materially from what the
Company currently expects. These factors include changes in market and competition, governmental or regulatory
developments, and general economic conditions. Additional information identifying risks and uncertainties
relating to the Company, its business and prospects are contained in Genesis' prospectus filed with the
Canadian securities regulatory authorities, available at www.sedar.com.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Genesis Worldwide Inc.
Catherine Smyth
Manager, Investor Relations
[phone], ext. 302
Website: www.genesisworldwide.com

OR

Canaccord Adams
Robert Finlay
[phone]

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Genesis Worldwide Inc.