June 27, 2008 11:00 ET

British Columbia Discovery Fund Invests in Avigilon Corporation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 27, 2008) -

British Columbia Discovery Fund (VCC) Inc. is very pleased to announce that it was the lead investor in the first closing of Avigilon Corporation's $7.5 million financing. Avigilon is the leading provider of high quality, digital image, HD surveillance systems. In conjunction with this investment, Harry Jaako, President of Discovery Capital Management Corp., the manager of the Fund, has joined the Board of Avigilon. With this investment in Avigilon, the Fund has made investments totaling $7.8 million to date in 2008.

Based in Vancouver, Avigilon has developed a high definition surveillance system with currently unmatched performance. Comprised of a line of multi-megapixel IP cameras, ranging in resolution from 1 to 16 megapixels, and high definition network video recorders that capture and preserve surveillance evidence using lossless compression, the Avigilon Control Center surveillance software with High Definition Stream management (HDSM) offers a breakthrough in imaging performance to deliver the image quality necessary for the protection of the public, commercial and retail facilities, as well as critical assets and infrastructure. Sectors that benefit from the superior performance of Avigilon's high definition surveillance systems include law enforcement, financial institutions, casinos, warehousing and transportation, the military and critical infrastructure such as nuclear and petrochemical plants.

Avigilon is targeting several different sectors of the video surveillance industry in North America - a large and growing market forecasted to reach more than $10 billion per year by 2009 during a time when physical security of property, plants and infrastructure is becoming increasingly desirable and expensive. Recently, Avigilon's Control Center was selected as the Best Terrestrial Surveillance Technology at the Global Border Security Conference and Expo held in Austin, Texas. Selected by an esteemed group of global border security experts, Avigilon Control Center was chosen for delivering breakthrough image quality, full situation awareness and unsurpassed image detail which is critical for quick responses, reduced investigation times, and superior overall border protection.

"Avigilon represents an attractive business model that we look for in a new technology investment for the Fund - specifically, a business offering integrated hardware, software and specialized componentry in a fully integrated, digital solution to meet increasingly complex and unfulfilled needs of the market," said Harry Jaako, President of the Fund. "Led by a management team that has a proven track record of technical innovation combined with operational success, and with initial sales success with high profile customers, we look forward to joining with Avigilon in its mission to be the leading commercial supplier of premium quality high definition surveillance systems."

About British Columbia Discovery Fund (VCC) Inc.

British Columbia Discovery Fund (VCC) Inc. was established to make venture capital investments in a portfolio of small businesses in British Columbia that qualify under the Small Business Venture Capital Act, focusing on all of B.C.'s top internationally recognized technology clusters; information technology, communications, health and life sciences, and energy and environmental technologies.

Established in 2002 and managed by Discovery Capital Management Corp., the Fund is focussed on making diversified investments in British Columbia with the objectives of achieving long-term capital appreciation for its shareholders and contributing to the growth in value and employment of the technology industry in British Columbia. In addition to offering a means of participating in the potential of British Columbia's newest technology ventures, the Fund offers significant tax savings to eligible British Columbia individual and corporate investors. The Fund, which offers its shares on a continuous basis, has raised $54 million to date and has investments in fourteen developing technology companies. To obtain further information about the Fund, please contact a registered advisor or visit or

John McEwen, CEO, B.C. Discovery Fund (VCC) Inc.

Harry Jaako, President, B.C. Discovery Fund (VCC) Inc.

This press release is not an offer to sell or a solicitation of an offer to buy common shares. This press release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. The issuer cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what the issuer currently foresees.

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