Avenue Financial Corporation
TSX VENTURE : AFC

Avenue Financial Corporation

September 16, 2005 11:40 ET

Avenue Converts Balance of Outstanding Debenture to Equity

TORONTO, ONTARIO--(CCNMatthews - Sept. 16, 2005) - Avenue Financial Corporation (TSX VENTURE:AFC) is pleased to announce that the company has issued 23,887,200 shares at a deemed value of five cents per share and 23,887,200 share purchase warrants entitling the holder to purchase one common share at a price of $0.10 per share for a two year period. to settle outstanding debt for $1,194,360. After conversion, AFC will have no long-term debt.

General Business Update

In light of the current challenges facing the alternative investment industry in 2005, AFC will be conducting rigorous due diligence meetings for the compliance, operations, and advisors at various IDA and MFDA firms.

Commented Robin Ross, CEO, "Our mandate is to ensure that those responsible for recommending investment products to the end investor and those in charge of approving products for sale at the various firms are fully versed in both the Avenue corporate structure and AGAM share structure. We want to be as transparent as possible regarding the treatment of investor capital and look forward to helping decision makers 'drill down' into our investment offerings."

In addition AFC has plans on adding two new world-class investment products to its AGAM share offering.

About Avenue Financial Corporation

Avenue Financial Corporation is a TSX Venture listed company, which designs and administers world-renowned alternative investment products. Avenue's tax advantaged platform provides Canadian Investors access to the best alternative investment products in the world while investment returns compound tax-free.

Access is provided through an investment in (Avenue Global Asset Management Inc. 'AGAM').

The Toronto Venture Exchange ("TSX-V") does not accept responsibility for the adequacy or accuracy of this press release.

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