Investor PresentationOctober 2009

Certain statements in this presentation are forward-looking and are subject to important risks, uncertainties and assumptions concerning future conditions that may ultimately prove to be inaccurate and may differ materially from actual future events or results.

Forward-looking statements are based on estimates made by management of West 49 Inc. based on current information. These are not formal forecasts or projections of future results and have not been derived from any pro forma financial statements now have been audited or reviewed by any third party. You are reminded not t place undue reliance on these forward-looking statements, which speak only as of the date hereof. West 49 Inc. shall undertake no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstance that occur after the date hereof or to the occurrence of unanticipated events.

Forward-Looking Statements

2

FY 2009 in Review

• Volatile Canadian $

• Cross-border shopping

• Minimum wage increases

• Troubling economy

3

FY 2009 in Review

• Best brands on Earth, lowest prices ever

• Platinum Club sales incentive program

• Ontario no-tax event

4

FY 2009 in Review

5

FY 2009 in Review

• Shut down Duke’s Northshore

• Centralized all functions for the Off The Wall banner into our Burlington head office

6

Financial Review

FY 2010Year-to-Date*

* Year-to-Date (YTD) refers to the 26 weeks ended August 1, 2009 compared to the 26 weeks ended July 26, 2008.

Sales

Net Sales

YTD 2010 = $84.4MYTD 2009 = $83.9M

Comparable Store Sales

Consolidated = -1.2%

West 49 banner = +3.5%West 49 banner = +3.5%

+ 0.6%+ 0.6%

8

Gross Margin

9

INCREASED 280 BPSas a % of net salesYTD 2010 = 20.0%YTD 2009 = 17.2%

INCREASED $2.5M YTD 2010 = $16.9MYTD 2009 = $14.4M

Managing Costs

10

REDUCED SG&A expenses as a % of net sales in the last6 CONSECUTIVE QUARTERS

Improved Bottom Line

EBITDA (Loss)

YTD 2010 = ($1.9M)YTD 2009 = ($4.8M)

Net Income (Loss)

Basic Income (Loss) Per Share

YTD 2010 = ($3.6M)YTD 2009 = ($5.9M)

YTD 2010 = ($0.06)YTD 2009 = ($0.09)

11

Back-to-School*

Net Sales

FY 2010 = $39.9MFY 2009 = $41.2M

Comparable Store Sales

Consolidated = -5.6%

West 49 banner on par with last yearWest 49 banner on par with last year

-- 3.2%3.2%

* For the 7 weeks ended September 19, 2009

Back-to-SchoolMany schools started earlier than last year

Consumer spending still depressed

Unseasonably warm weather in some parts of the country

Continued challenges in girls apparel

Outlook

Business Strategy

Our Outlook

• Recession / recovery???

• Our efforts are just beginning to pay off

Better positioned forBetter positioned forHOLIDAY HOLIDAY selling seasonselling season

15

We will be THE retail destination of choice for Canadian

tweens & teensseeking to fulfill their actionsports lifestyle needs

Attractive Target Market

• Spend $4.9 billion / year½ on clothing, footwear & accessories

• Account for 76% of action sports participants

17

Source: Global Habbo Youth Survey – Brand Update 2009

1. American Eagle 1.1. NikeNike2. Hollister 2.2. DCDC3.3. West 49West 49 3. Converse

4.4. DCDC 4. Adidas

5. Stitches 5.5. VansVans6. Bluenotes 6. Puma

7. Aeropostale 7. Airwalk

8. Garage 8.8. C1RcaC1Rca9.9. BillabongBillabong 9.9. EtniesEtnies10.10. NikeNike 10. Ugg

Top Brands for Canadian YouthClothing Shoes

18

Unique Promotions

19

MAXIMIZE RETURNSfrom existing stores

OPEN NEW STORES in new & existing markets

Investor PresentationOctober 2009

Design by the Equicom Group