Brompton Group

Brompton Group

June 30, 2005 14:30 ET

Brompton to Sell Minority Interest in its Funds Management Business

TORONTO, ONTARIO--(CCNMatthews - June 30, 2005) - We are pleased to announce that Brompton Group has entered into an agreement in principle with Newport Private Yield LP ("Newport") through which Newport will acquire a minority interest in our fund management business. Brompton currently has approximately $2.5 billion of assets under management in its eleven funds. We and the other senior officers of Brompton will continue to own a majority interest in the business and will maintain operational control and responsibility for its direction. Newport is an asset management business that partners with successful entrepreneurs.

Newport has filed a preliminary prospectus in respect of an initial offering of units to the public ("IPO"). The purchase by Newport of the interest in Brompton is subject to a number of conditions including the completion of the IPO.

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