CLEARLINK Capital Corporation
TSX : CNK

CLEARLINK Capital Corporation

August 02, 2005 11:12 ET

CLEARLINK'TM' Reports Details of Settlement

MISSISSAUGA, ONTARIO--(CCNMatthews - Aug. 2, 2005) - CLEARLINK Capital Corporation (TSX:CNK) announced today that, on Friday July 29, 2005, it settled unconditionally its litigation with the City of Windsor and The County of Essex regarding the regional landfill. Under the settlement, the Corporation contributed approximately $14 million in cash and extinguished certain contractual claims it had for approximately $5 million.

In addition, the majority of the dollar exposure on the equipment leasing disputes with the City of Windsor has been settled unconditionally with CLEARLINK making a $7 million payment to the City. The parties have also agreed to a further mediation and arbitration process to settle the relatively smaller claims in the remaining leases.

The Corporation believes it has now achieved substantial resolution of this $300 million litigation matter, (other than the remaining leases) that had significantly impaired its business conduct over the past several years. Of further importance, this matter has been settled within the financial reserves established by the Corporation in its Fiscal 2005 financial statements.

CLEARLINK Capital Corporation is a provider of innovative financial solutions in technology and equipment leasing, and equipment trading. Based in Mississauga, Ontario, CLEARLINK operates throughout North America and Europe.

CLEARLINK™ is a trademark of CLEARLINK Capital Corporation.

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