Austin Developments (TSX VENTURE:AUL) ("Austin") and its Joint Venture Partners
are pleased to announce that drilling, logging, and evaluation of the Morgan
Highpoint # 3 "Discovery" Well has been completed.


According to Montello Resources Ltd. ("the operator"), in excess of 250 barrels
of light gravity oil flowed to surface during an 8 hour production test on the
Morgan Highpoint # 3 "Discovery" Well with an associated high gas/oil ratio.
Based on these results, the decision was made to place the well on production.
Production optimization levels will be determined once additional storage
facilities and oil transportation arrangements are in place.


Austin is also pleased to announce that hydrocarbons were encountered during
drilling operations at the Morgan Highpoint # 4 Test Well. The Operator will now
evaluate these results in advance of preparing a well completion program.


Austin is extremely encouraged by results to date on the Morgan Highpoint
Project. Austin currently has a 30% earned interest in the Morgan Highpoint # 3
Discovery well and a 30% earned interest in the Morgan Highpoint # 4 Test Well.
A multi-well drilling program is currently being finalized between the Joint
Venture Partners on additional mineral leases acquired in the area.


On behalf of the Board of Directors

Austin Developments Corp.

Patrick Power, President and Director

Statements Regarding Forward-Looking Information: Some statements contained in
this news release are forward-looking statements. Investors are cautioned that
forward-looking statements are inherently uncertain and involve risks and
uncertainties that could cause actual results to differ materially. There can be
no assurances that future developments affecting Austin will be those
anticipated by management.
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