TriNorth Capital Inc.

TriNorth Capital Inc.

May 26, 2006 13:56 ET

TriNorth Obtains Estimate of Value of Vitalink and Teragrid

TORONTO, ONTARIO--(CCNMatthews - May 26, 2006) - TriNorth Capital Inc. (TSX:TRT) announced today that it has received an estimate of value concerning its investments in Vitalink Worldwide Ltd. ("Vitalink") and Teragrid Solutions Inc. ("Teragrid").

TriNorth owns 37% of Vitalink, which operates through its principal subsidiary, and 37% of Teragrid. These companies provide specialized web-based technology solutions to customers across several industries.

TriNorth made the investment in Vitalink in 2000 and the investment in Teragrid was made in 2005. In accordance with TriNorth's accounting principles, these investments have been written down to nil.

TriNorth believes these investments have value. In addition, with the sale in 2005 of its investment in Intelligent Mechatronic Systems Inc. it was anticipated that TriNorth would qualify under Accounting Guideline 18 as an "investment company" in which case all its investments would be accounted for at fair value. Therefore, and as part of its ongoing strategic planning process, TriNorth commissioned an estimate of value to be done by an accounting firm experienced in the valuation of software companies.

The estimate of value determined that the combined fair market value of Vitalink ( and Teragrid was in the range of $6.6 million to $6.9 million, of which TriNorth's 37% interest would be approximately $2.5 million.

TriNorth cautions that the determination of the value of private companies such as Vitalink and Teragrid is difficult and is subject to many different variables and assumptions which can significantly affect the estimate of value.

As a result, this estimate of value should not be relied upon by investors. It is likely that a sale of these companies negotiated on an arm's length basis with a third party would result in a price which is significantly different from the estimate of value.

About TriNorth

Trinorth Capital Inc. is a Canadian-based company that has privately held and publicly traded venture investments, cash resources and substantial tax losses to shelter future income and investment gains.

This release contains forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct, and such forward looking statements should not be unduly relied upon. These statements speak only as of the date of this release, and are subject to a number of risks and uncertainties, including the factors discussed in the Company's current and previous filings with the Canadian securities regulatory authorities. Actual results could differ materially from these forward-looking statements.

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