Eagle I Capital Corporation
TSX VENTURE : EIC.P

October 26, 2009 08:00 ET

Eagle I Announces Results of Annual and Special Meeting and Termination of Merger Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2009) -

NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Eagle I Capital Corporation ("Eagle I" or the "Company") (TSX VENTURE:EIC.P) wishes to announce that at the annual and special meeting of the shareholders of the Company held on October 23, 2009 (the "Meeting"), the shareholders of the Company voted against the resolution to approve the proposed acquisition of all of the voting interests of Miguel's Products, LLC ("Miguel's"), which acquisition would constitute the qualifying transaction of the Company as previously disclosed in the management information circular dated September 25, 2009 filed on SEDAR (www.SEDAR.com). In addition, the shareholders of the Company elected the existing directors of the Company, David Horton, Donald Padgett, Barry Atkins and Barney Magnusson, to continue as directors for the Company. As a result of the vote at the Meeting against the acquisition of Miguel's, the Company has terminated the merger agreement among Eagle I, Miguel's and Eagle Acquisition, Inc. dated July 22, 2009, as amended, and demanded that Miguel's immediately repay the deposits of US$285,000 made by Eagle I to Miguel's together with all accrued interest thereon. The Company continues to actively pursue opportunities that would constitute a qualifying transaction for the Company.

On behalf of EAGLE I CAPITAL CORPORATION

Barry Atkins, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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