Morgan Highpoint John Bowen No. 2 site prepped and ready for logging

TSX Venture: AUL

VANCOUVER, Dec. 18 /CNW/ - Austin Developments Corp. (the "Company" or "Austin") is pleased to announce that it has been informed by its joint venture partner Montello Resources Ltd. ("Montello" or the "Operator") that the Morgan Highpoint John Bowen No. 2 well site has been cleared and is fully prepped for Haliburton to commence logging. The John Bowen No. 2 well has been drilled and cased to depth of 9,557 feet and the drill rig has been demobilised and released from the well site. The operator has informed Austin that as per the news release dated, November 14, 2007, that the logging of the Bowen No. 2 well should occur as early as mid January 2008.

On behalf of the Board of Directors

Austin Developments Corp.

Per:

"Patrick Power"

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

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.

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this release.