BluMont Capital Inc.
TSX VENTURE : BCC

BluMont Capital Inc.

August 04, 2006 08:14 ET

BluMont Capital Inc. Reports Results for Third Quarter of Fiscal 2006

TORONTO, ONTARIO--(CCNMatthews - Aug. 4, 2006) - BluMont Capital Inc. ("BluMont")(TSX VENTURE:BCC) today announced unaudited financial results for the third quarter of fiscal 2006.



Review of the 3-Month Period Ended
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June 30, 2006 June 30, 2005
(thousands except (thousands except
HIGHLIGHTS per share amounts) per share amounts)
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Assets Under Management ("AUM") $773,300 $724,800
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Total Revenues $3,651 $3,827
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Total Performance Fees Included
in Total Revenues $1,313 $1,786
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Operating Income (i) $333 $12
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Net Income $181 $10
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Income Per Share $0.01 $0.00
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(i) Operating Income is a non-GAAP (generally accepted accounting principle) earnings measure. This measure is income before income taxes and the deduction of stock-based compensation expense.

BluMont experienced AUM growth of 7% adding approximately $48.5 million of new assets since June 30, 2005.

Total revenues declined 5% from $3.8 million in the quarter ending June 30, 2005 to $3.7 million in the quarter ending June 30, 2006 as a result of lower performance fees realized. However, there was 11% growth in the predictable revenues of management fees, investment counselling and redemption fees.

Operating income improved to $0.3 million in the current quarter compared with breakeven results in the same quarter of the prior year. Net income was $0.2 million in the quarter, an improvement over the breakeven results of the prior year's comparable quarter.

For detailed financial statements for the quarter, including Management's Discussion and Analysis, please refer to BluMont's website at www.blumontcapital.com/main/financial_statements.htm or SEDAR at www.sedar.com during the week of August 7, 2006.

This press release may contain forward-looking statements with respect to BluMont and its products and services, including its business operations and strategy and financial performance and condition. Although management believes that the expectations reflected in any such forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, including interest rates, business competition, changes in government regulations or in tax laws, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time.

About BluMont

BluMont is a leading provider of alternative investment products to Canadian investors. The firm offers investors innovative investment solutions that provide enhanced diversification and robust return potential. BluMont employs over 35 people nationwide and has approximately C$780 million in assets under management. BluMont is 46.2% owned by Toronto-based Integrated Asset Management Corp. (TSX VENTURE:IAM), a leading alternative asset investment management company with approximately C$3 billion in assets and committed capital under management. Further information on BluMont can be found at www.blumontcapital.com.

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

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