New Century Will Miss Filing Deadline for YE 2007 Results

LOS ANGELES, CA--(MARKET WIRE)--Apr 14, 2008 -- New Century Companies, Inc. (OTC BB:NCNC.OB - News), a leading manufacturer and re-manufacturer of machine tools, today announced it will not file year-end 2007 financial results on time.

David Duquette, CEO, stated, "We have made a choice to delay our filing as it will not properly reflect significant developments that will have a very positive outlook for our company. As previously reported we have been in default under the terms with our company lender. We have been working hard to cure this default and have reached a tentative agreement with a new lending institution to remedy this default under more favorable terms for New Century; however while I feel confident this will take place there can be no absolute assurance it will."

About New Century Co.

New Century Companies, Inc. is one of the leading U.S.-based makers of machine tools, primarily vertical boring mills and large lathes such as vertical turning centers (VTCs). It specializes in re-manufacturing, starting with existing major castings and fitting them with state-of-the-art, computer-controlled equipment. These products generally cost 40% to 60% less to make than new ones. New Century passes these savings on to its customers, which include such leading manufacturers as General Electric Co., General Dynamics Corp., Siemens AG and Gardner Denver. New Century machines are used to manufacture jet engine components, airplane landing gear parts, power generation equipment, oil and gas production components and construction materials, to name just a few applications. New Century's production facility is in Santa Fe Springs, CA. For more information please visit New Century's Web site at www.newcenturyinc.com.

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Safe Harbor

Forward-looking statement: Except for historical information, this press release contains forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions and other risks detailed from time to time in the Company's ongoing quarterly filings, annual information form, and annual reports. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.