Avenue Financial Corporation

Avenue Financial Corporation

July 26, 2005 16:10 ET

Avenue Financial Corporation: Closing of Non-Brokered Private Placement

TORONTO, ONTARIO--(CCNMatthews - July 26, 2005) - Avenue Financial Corporation ('Avenue') (TSX VENTURE:AFC) is pleased to announce it has closed on 11,746,500 of its proposed offering of 20,000,000 units being sold at $0.05 per unit, each unit consisting of one common share and one share purchase warrant entitling the holder to purchase one common share at a price of $0.10 per share for a two year period. Avenue is further announcing an additional 16,000,000 unit increase subject to TSX Venture Exchange approval. Proceeds from this financing will be used to retire the balance of the outstanding debenture and provide working capital.

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

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