ALL IN WEST! CAPITAL CORPORATION ANNOUNCES DEFAULT UNDER MORTGAGES AND
DEBENTURES

WINNIPEG, Nov. 23 /CNW/ - All in West! Capital Corporation (the "Corporation") (TSX-V: ALW) announced today that, effective immediately, it plans to cease all monthly interest payments on its 8.00% Series C Convertible Debentures (the "Series C Debentures") until such time that the Corporation determines that its financial condition and cash flows enable the Corporation to resume payments. Given the financial condition of the Corporation, there can be no assurance that the Corporation's financial status and cash flows will improve to a point which will enable it to pay any amounts (principal or interest) under its Series C Debentures.

"2009 and 2010 have been financially difficult years for the Corporation. The general economic conditions where the Corporation's portfolio of hotels is located declined drastically in 2009 and there has been little improvement in 2010" said Cornelius Martens, CEO of All in West! Capital Corporation. "Year-to-date the Corporation has been cash flow negative and as a result, the Corporation is not in a position to make monthly interest payments on the Series C Debentures".

Earlier in 2010, the Corporation implemented an action plan involving various stakeholders, including management, the board of directors, Series A and B debentureholders, and lenders. The action plan involved the following steps: (i) management and the directors of the Corporation indefinitely waived all asset management fees and director fees retroactive to January 2010; (ii) the Corporation ceased its monthly interest payments on the Series A and Series B debentures of the Corporation beginning in April 2010; and (iii) an agreement was reached with certain lenders to allow the Corporation to make interest-only payments on its mortgages, giving temporary principal payment relief to the Corporation. Two of these lender agreements have expired. While the Corporation continues to negotiate with such lenders for continued approval to make interest-only payments until the financial condition and cash flows of the Corporation improve, these mortgages are now in default. Since all of the Corporation's mortgages are cross-collateralized, the Corporation is in default of all of its mortgages and its lenders have the right demand the immediate payment of their respective loan principal and outstanding interest. Although no lender has made such a demand to date, if the payment of the full amount of any or all of the mortgages were to be demanded, the Corporation would not be able to satisfy any such demands. In addition, the indenture trustee for the Corporation's Series A, B and C Debentures is entitled to demand payment of all outstanding principal and interest thereunder, subject to the rights of senior lenders. There can be no assurance that the Corporation will be in a position to pay the principal amount or accrued interest on its outstanding debentures.

Even if the Corporation is able to obtain approval of its lenders for interest-only payments, there can be no assurance that the Corporation will be in a position to make such interest-only payments at any time in the future.

Management and the Board of Directors of All in West! Capital Corporation continue efforts to identify and evaluate alternatives which may be available to the Corporation with a view to the best interest of the Corporation.

This press release contains forward-looking statements, including statements about management's action plan, the financial condition of the Corporation and the ability of the Corporation to meet its ongoing obligation to its various lenders. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from what the results expressly stated or implied in such forward-looking statements.  Some of these risks and uncertainties are described under "Risk Factors" in the Corporation's prospectus dated August 26, 2009 and its management discussion and analysis dated June 30 2010, copies of which are available at www.sedar.com and include the risk that management's action plan will not be successful. All forward-looking statements contained herein are expressly qualified by this cautionary statement.

The TSX Venture Exchange has not reviewed or approved the contents of this press release.

For further information:

please contact Mr. Cornelius Martens, President and Chief Executive Officer, or Cornelius William Martens, Investor Relations, Tel: [phone].