BRITISH COLUMBIA DISCOVERY FUND (VCC) INC.

BRITISH COLUMBIA DISCOVERY FUND (VCC) INC.
Discovery Capital Corporation
TSX VENTURE : DVY.Y

Discovery Capital Corporation

February 10, 2005 14:16 ET

British Columbia Discovery Fund Makes Further Investment in Day4 Energy Inc.; Pricing Net Asset Value per Share to Increase Reflecting Increased Valuation of Day4


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BRITISH COLUMBIA DISCOVERY FUND (VCC) INC.

AND DISCOVERY CAPITAL CORP.

TSX VENTURE SYMBOL: DVY.Y

FEBRUARY 10, 2005 - 14:16 ET

British Columbia Discovery Fund Makes Further
Investment in Day4 Energy Inc.; Pricing Net Asset
Value per Share to Increase Reflecting Increased
Valuation of Day4

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 10, 2005) - British
Columbia Discovery Fund (VCC) Inc. and Discovery Capital Management
Corp. (TSX VENTURE:DVY.Y)

Discovery Capital Management Corp. ("Discovery Capital"), manager of
British Columbia Discovery Fund (VCC) Inc. (the "Fund" or "BCDF"), is
pleased to announce that the Fund has made a further $800,000 investment
in Day4 Energy Inc. ("Day4"), bringing its total investment in Day4 to
$1.9 million. The recent investment was made pursuant to the exercise of
warrants which were issued in connection with the Fund's initial
investment in Day4 in April 2004. In aggregate, 98% of the warrants
issued in connection with that financing have been exercised, resulting
in approximately $1.8 million of proceeds to Day4.

As the price of this financing transaction reflects a value for Day4
shares which is higher than the Fund's present carrying value of Day4
shares, this transaction represents an increase of approximately $0.18
from the current Pricing Net Asset Value per Share of the Fund, which
will be recognized on the Fund's next valuation date of Friday, February
11, 2005.

"Since the Fund's initial investment in Day4, Day 4 has designed,
installed and tested the first pilot installation of its sun
concentrator system and has achieved commercial production levels on its
proprietary manufacturing equipment," remarked Harry Jaako, President of
the Fund. "We are delighted that the Fund was able to participate in
this early stage opportunity and, with the other shareholders of Day4
who participated in the current financing round, to support Day4's
continuing progress toward its goal of achieving commercial product
sales."

About Day4 Energy Inc.

Based in Burnaby, B.C., Day4 Energy is a solar energy company dedicated
to producing affordable and efficient photovoltaic power generation
systems for the world power markets. Producing electricity directly from
the sun, or photovoltaics (PV), offers significant environmental and
operational benefits over conventional fossil fuel and other renewable
energy sources. However, PV electrical power generation has thus far
been uneconomic because its costs have not been competitive with
conventional generation without government subsidy. With its
proprietary, new PV cell contacting & interconnection technology and sun
concentrator system design, Day4's goal is to reduce the costs of PV
power generation to levels competitive with conventional fossil
fuel-based power generation technologies.

About British Columbia Discovery Fund (VCC) Inc.

British Columbia Discovery Fund (VCC) Inc. was established to make
venture capital investments in a portfolio of small businesses in
British Columbia that qualify under the Small Business Venture Capital
Act, focusing on all of B.C.'s top internationally recognized technology
clusters; information technology, communications, health and life
sciences, and energy and environmental technologies. Established in
2002, the Fund is the largest SBVCA registered venture capital
corporation making diversified investments in British Columbia with the
objectives of achieving long-term capital appreciation for its
shareholders and contributing to the growth in value and employment of
the technology industry in British Columbia. In addition to offering a
means of participating in the potential of British Columbia's newest
technology ventures, the Fund offers significant tax savings to eligible
British Columbia individual and corporate investors. The Fund offers its
shares on a continuous basis and has raised approximately $26 million to
date. To obtain further information about the Fund, please contact a
registered advisor, or visit www.sedar.com or www.bcdiscoveryfund.com.

About Discovery Capital Management Corp.

With nearly 20 years of venture capital experience in British Columbia,
Discovery Capital is a venture fund manager and investor specializing
in: information technology, communications, health and life sciences,
and other advanced technologies. We have enhanced value for over 250
technology ventures, with our proven expertise in strategic planning,
management development, innovative financing strategies, corporate
governance and positioning for liquidity.

For more information about Discovery Capital, please visit
www.discoverycapital.com.

John McEwen, CEO,

B.C. Discovery Fund (VCC) Inc. and Discovery Capital Management Corp.

Harry Jaako, President

B.C. Discovery Fund (VCC) Inc. and Discovery Capital Management Corp.

This news release may include statements about expected future events
and/or financial results that are forward-looking in nature and subject
to risks and uncertainties. The issuers caution that actual performance
will be affected by a number of factors, many of which are beyond their
control. Future events and results may vary substantially from what the
issuers currently foresee.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Discovery Capital Corporation
    Parent company of Discovery Capital Management Corp.
    Charles Cook, CFO
    (604) 683-3000 ext. 102
    www.discoverycapital.com
    or
    Discovery Capital Corporation
    Parent company of Discovery Capital Management Corp.
    Todd Riley, Sales & Marketing Director, B.C. Discovery Fund
    (604) 683-3000 ext. 115
    (604) 662-3457 (FAX)
    info@discoverycapital.com
    www.bcdiscoveryfund.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the content of this news
    release.