Integrated Asset Management Corp.

Integrated Asset Management Corp.

May 23, 2006 09:04 ET

Integrated Asset Management Corp. Proposes to Launch Offer for Publicly Held Shares of BluMont Capital Inc.

TORONTO, ONTARIO--(CCNMatthews - May 23, 2006) - Integrated Asset Management Corp. ("IAM") (TSX VENTURE:IAM) today announced that it is proposing to launch an exchange offer for any and all of the outstanding common shares of BluMont Capital Inc. (TSX VENTURE:BCC) ("BluMont") that IAM does not already own, with the consideration being 1/3 of one common share of IAM for each common share of BluMont held. IAM currently owns approximately 46.1% of the outstanding common shares of BluMont. Based on the closing prices of the BluMont and IAM common shares on the TSX Venture Exchange on May 19, 2006, the offer represents a premium to the BluMont share price of approximately 39%.

"The Board of Directors believes that this transaction will benefit both companies." states Victor Koloshuk, Chairman and CEO of IAM. "The shareholders of BluMont will receive a dividend paying stock with enhanced liquidity in a more diversified business upon the successful closing of the transaction. We believe this transaction will both simplify the capital structure as well as result in significant savings" continues Mr. Koloshuk. "At IAM, we greatly value our shareholder relationships at the BluMont level and we hope these shareholders will remain. Provided IAM acquires 100% of the BluMont shares, each IAM share will represent ownership in 1.2 BluMont shares."

Although it is currently proposed that the offer take the form of a take-over bid, in certain circumstances, IAM may proceed to effect the proposed going private transaction by way of an amalgamation or similar transaction on the same terms as set forth above.

Completion of the proposed offer will be subject to customary conditions, including receipt of all necessary regulatory approvals. Further details of the offer will be contained in the take-over bid circular or other disclosure document to be mailed to BluMont shareholders in connection with the proposal.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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