BC Advantage Funds (VCC) Ltd.

BC Advantage Funds (VCC) Ltd.

April 30, 2009 12:21 ET

BC Advantage Completes Redemption of Advantage Life Sciences Fund I

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2009) - BC Advantage is pleased to announce that it has fulfilled all redemption requests received from shareholders of the Advantage Life Sciences Fund I. All investors wishing to redeem their shares of ALSFI received the full cash consideration for their shares as they became redeemable under the provisions of the Small Business Venture Capital Act.

At the date of the final redemptions, the net asset value per share of the ALSFI was $11.45. The net asset value per share was over and above the $10 per share special cash dividend which ALSFI investors received in December 2006. The ALSFI paid out that dividend to its investors well in advance of their redemption dates as the fund had a significant cash surplus from realizing on a number of its investments. Including the special dividend and taking into consideration the fully refunded tax credit, the average investor in ALSFI received a return of well over three times his or her net investment.

The shares of ALSFI held by investors who did not redeem their shares were converted to shares of the Advantage Venture Fund on April 9, 2009 at an exchange ratio determined on the basis of the relative net asset values per share of the ALSFI and the Advantage Venture Fund on that date.

About Advantage

Advantage offers everyone in BC the opportunity to invest in some of the Province's most promising life science, technology and clean technology companies. Advantage investors receive a 30% refundable tax credit from the BC government on investments of up to $200,000 per year. For more information about Advantage, please review our prospectus, visit our website at www.bcadvantagefunds.com.

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