C.A. Bancorp Inc.

C.A. Bancorp Inc.

February 21, 2008 08:00 ET

C.A. Bancorp Inc. (TSX:BKP) Closes Deal With Windward Telecom Limited, a Caribbean Company Providing Wholesale Telecommunications Services

TORONTO, ONTARIO--(Marketwire - Feb. 21, 2008) - C.A. Bancorp Inc. ("C.A. Bancorp") (TSX:BKP) is pleased to announce that, through its subsidiary, C.A. Bancorp Telecom Inc., it has completed the transaction with Windward Telecom Limited ("Windward"), as previously announced in November 2007. C.A. Bancorp has invested US$700,000 to complete the build out of Windward's Caribbean wholesale broadband services platform, including expansion of services to industry verticals such as the Trinidadian oil and gas industry. C.A. Bancorp has taken a significant minority position in Windward and has representation on Windward's Board of Directors. To date, the pre-sales of Windward's capacity to major North American telecommunication companies are expected to allow it to generate immediate positive earnings.

Windward has positioned itself as a low-cost wholesale provider of telecommunications services utilizing dedicated high capacity fiber optic cable, providing customers with high volume voice and data services to and from the Republic of Trinidad and Tobago. It will market its services to telephone companies, independent internet service providers, and other companies with high bandwidth requirements.

Under the Windward banner, and in partnership with Windward's President, Douglas Cunningham, C.A. Bancorp intends to explore future investment opportunities in the Caribbean telecommunications market.

Windward Telecom Limited

Windward Telecom Limited provides international telecommunications services to and from the Republic of Trinidad and Tobago. Using a combination of existing and newly-constructed telecommunications fiber optic networks in Trinidad, Windward intends to provide its customers with high quality service, lower pricing, and fast deployment of emerging technologies. Windward was founded by industry expert Douglas Cunningham, who has over 34 years of industry experience and was a co-founder of Antilles Crossing Ltd., a 939km fiber optic link between St. Croix and Barbados. For more information on Windward Telecom visit www.windwardtelecom.net.

C.A. Bancorp Inc.

C.A. Bancorp is a publicly traded Canadian merchant bank and alternative asset manager that provides investors with access to a range of private equity and other alternative asset class investment opportunities. C.A. Bancorp is focused on investments in small- and middle-capitalization public and private companies, with emphasis on the industrials, real estate, infrastructure and financial services sectors.

This news release contains forward-looking statements with respect to the investment in Windward, and matters concerning the business, operations, and strategy of C.A. Bancorp and Windward. These statements relate to anticipated future events, results, circumstances, performance or expectations that are not historical facts but instead represent C.A. Bancorp's beliefs regarding future events. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur.

Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Additional, important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, conditions affecting the telecommunications sector, geographical and country risk, competition, changes in government regulation, inability to obtain any required regulatory licenses, approvals or financing, interest rates and tax related matters. C.A. Bancorp cautions that undue reliance should not be placed on forward-looking statements as events and results could differ materially from those expressed or implied by forward-looking statements made by C.A. Bancorp.

Unless otherwise stated, all forward looking statements speak only as of the date of this press release. C.A. Bancorp does not undertake, and specifically disclaims, any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

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Telephone: (416) 214-5985
Fax: (416) 861-8166

Contact Information

  • C.A. Bancorp Inc.
    Mark MacDonald
    Managing Director - Private Investments
    C.A. Bancorp Inc.
    Jake Trainor
    Vice President - Corporate Development
    (416) 861-8166 (FAX)
    Email: info@cabancorp.com
    Website: www.cabancorp.com