GrowthWorks Atlantic Ltd.

GrowthWorks Atlantic Ltd.

December 21, 2007 14:51 ET

New Brunswick Government Announces Enhancement of Labour-Sponsored Venture Capital Program-GrowthWorks Atlantic Ltd.

FREDERICTON, NEW BRUNSWICK--(Marketwire - Dec. 21, 2007) - GrowthWorks(i) announced today it is pleased with the New Brunswick Government's recent decision to approve amendments to legislation which will make it easier for individuals to invest in GrowthWorks Atlantic Venture Fund through RSPs.

"This is a very positive step for the Fund in New Brunswick," said Tom Hayes, President & CEO of GrowthWorks Atlantic Venture Fund. "It is encouraging to work with this government as they bring about changes that will make it easier for people in New Brunswick to invest and re-invest in the Fund. Of course this will also likely result in increased capital for New Brunswick businesses making it a win for both investors and entrepreneurs in New Brunswick."

The amendments to the New Brunswick Income Tax Act are to be introduced in the spring session, with effect from January 1, 2008, and will allow investors to:

- purchase GrowthWorks Atlantic Venture Fund shares directly in their RSP; and

- roll over existing fund investments in their RSP after eight years and qualify for a new provincial tax credit.

About GrowthWorks (

GrowthWorks™ managed funds provide investment capital for Canadian companies and tax-advantaged investment opportunities for Canadian investors. GrowthWorks(i) manages approximately $900 million in assets through the Working Opportunity Fund (EVCC) Ltd., GrowthWorks Atlantic Venture Fund Ltd., GrowthWorks Commercialization Fund Ltd., GrowthWorks Canadian Fund Ltd. and ENSIS Growth Fund Inc. GrowthWorks identifies, analyzes and structures investments in companies with high growth potential. Particular emphasis is placed on IT, Life Sciences and Advanced Manufacturing sectors. Building on more than 15 years of investment expertise, GrowthWorks is a leader in Canadian venture capital management.

(i) GrowthWorks refers to affiliates of GrowthWorks Ltd. and includes: GrowthWorks Capital Ltd., manager of the Working Opportunity Fund (EVCC) Ltd.; GrowthWorks WV Management Ltd., manager of GrowthWorks Canadian Fund Ltd. and GrowthWorks Commercialization Fund Ltd.; and GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund Ltd. and ENSIS Management Inc., manager of ENSIS Growth Fund Inc. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd. ENSIS is a registered trademark of ENSIS Capital Corporation.

Commissions, trailing commissions, management fees and expenses all may be associated with investments in retail venture capital funds (RVCs). RVCs are not guaranteed; their values change frequently and past performance may not be repeated. Please read the prospectus before investing. While the announced changes to New Brunswick's RVC program are expected to be implemented in the spring session of the New Brunswick legislature, with effect from January 1, 2008, there can be no assurance that the changes will be implemented as announced.

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