Optimum Général Inc.

Optimum Général Inc.

December 19, 2007 11:37 ET

Privatization of Optimum General Inc. Receives Shareholders' Approval

MONTREAL, QUEBEC--(Marketwire - Dec. 19, 2007) - Optimum General Inc. (TSX:OGI.A) ("Optimum General") announced today that its shareholders have approved the privatization of Optimum General to be effected by way of amalgamation with 4434871 Canada Inc., an entity incorporated by Optimum Group Inc. ("Optimum Group") solely for that purpose. The shareholders of Optimum General as a whole, and the holders of Class "A" Subordinate Voting Shares of Optimum General, voting separately, and the holders of Class "B" Multiple Voting Shares of Optimum General, voting separately, voted respectively 99.9%, 99.9% and 100% in favour of the amalgamation at a special meeting held earlier in the day.

"We are very happy with this decision taken during the special shareholders' meeting. There is no doubt that Optimum General will from now on be able to focus more on its development, on the creation of value-added products and services as well as on the privileged relationship with its clients," explained Mr. Gilles Blondeau, Chairman of the Board of Directors of Optimum General and Optimum Group.

In accordance with the terms of the amalgamation, the holders of Class "A" Subordinate Voting Shares of Optimum General (except Optimum Group and those parties that are related to Optimum Group) will receive a cash payment of $5.15 per share, representing an aggregate amount of approximately $2,250,000. Application will be made to the Director under the Canada Business Corporations Act for the issuance of a certificate of amalgamation and the amalgamation is expected to be effective as at December 20, 2007. Upon the amalgamation becoming effective, the amalgamated company will be a wholly owned subsidiary of Optimum Group and those parties that are related to Optimum Group. The amalgamated company will continue to carry on business under the name "Optimum General Inc." and its head office will remain in Montreal. Optimum General will be making application to have its Class "A" Subordinate Voting Shares delisted from the Toronto Stock Exchange and will be taking steps to give notice and obtain appropriate orders to permit it to cease being a reporting issuer under Canadian securities legislation. Shareholders who have not yet surrendered their certificates for Class "A" Subordinate Voting Shares of Optimum General should contact their financial advisor.

About Optimum General

Optimum General Inc. is a Canadian company that underwrites property and casualty insurance mainly in Canada through three subsidiaries: Optimum West Insurance Company (British Columbia, Alberta and the Yukon); Optimum Insurance Company Inc. (Quebec, Ontario, Manitoba, Saskatchewan, the Northwest Territories and Nunavut); and Optimum Farm Insurance Inc. (Quebec). The products of these subsidiaries are distributed through a vast network of independent insurance brokers. Optimum General is a member of Optimum Group.

About Optimum Group

The Optimum Group is a privately owned international financial group active in property and casualty insurance, life reinsurance, life insurance, consulting, financial services and asset management. Founded in 1969 by Canadian actuaries, Optimum Group is active mainly in Canada, the United States and France.

Caution regarding forward-looking statements

This press release and related communications may contain forward-looking statements, including statements regarding the business and anticipated financial performance of Optimum Group and Optimum General. These statements are subject to a number of risks and uncertainties. Actual results may differ from results contemplated by the forward-looking statements. Such differences may be caused by factors which include, among others, global capital market activity, changes in government monetary and economic policies, changes in interest rates, inflation levels and general economic conditions, legislative and regulatory developments, competition and technological change. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. Neither Optimum Group nor Optimum General undertakes to update any forward-looking statements, oral or written, made by itself or on its behalf.

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