Counsel Corporation
TSX : CXS

Counsel Corporation
Knight's Bridge Capital Corporation

Knight's Bridge Capital Corporation

November 21, 2007 08:30 ET

Counsel Corporation Announces New Private Equity Strategy

TORONTO, ONTARIO--(Marketwire - Nov. 21, 2007) - Counsel Corporation ("Counsel") (TSX:CXS) announced today that it has acquired all of the interests that it did not already own in Knight's Bridge Capital Corporation and Knight's Bridge LP (collectively "Knight's Bridge") from the Finkelstein family in exchange for 2,000,000 common shares of Counsel Corporation.

Following the acquisition, Kenny Finkelstein will, as the Chief Executive Officer of Knight's Bridge, be responsible for Counsel's new private equity initiative. Knight's Bridge plans to launch Knight's Bridge Capital Partners Fund I (the "Fund"). It is currently contemplated that the Fund will accept total commitments of up to $80 million (including $10 million of capital committed by Counsel, $2 million of capital committed by Mr. Finkelstein and $1 million of capital committed by Allan Silber, Chairman and CEO of Counsel). It is anticipated that the Fund will seek to invest in small to mid market companies, primarily throughout North America and in a variety of industries, which require between $2 million and $10 million in equity financing.

"We are extremely pleased that Kenny has agreed to lead Counsel's new private equity initiative at Knight's Bridge" said Allan Silber, Chairman and CEO of Counsel. Mr. Silber added, "Kenny has a successful track record of investing in, ongoing management of, and divesting of platform companies. Kenny will bring a new focus to our private equity strategy."

Mr. Finkelstein commented that, "The Fund presents an extraordinary opportunity for me and I am very excited about implementing this new strategy for Knight's Bridge." Mr. Finkelstein added, "Knight's Bridge's unique blend of financial, operational, structuring, deal origination and investing experience will provide a foundation from which our new Fund can achieve success."

In connection with the launch of Counsel's new private equity initiative, Mr. Howard Lindzon has agreed to become a partner in the Fund. For the last 10 years Mr. Lindzon has managed his hedge fund, Lindzon Capital Partners, and he recently sold his startup videoblog "Wallstrip" to CBS Corp. and continues to spearhead the show and web video as a consultant for CBS.

Mr. Finkelstein commented that, "Howard has tremendous insight into the new media industry, is widely respected and is considered to be an expert in the Internet business sector." Mr. Finkelstein added, "I am extremely delighted that Howard has agreed to be our partner and to work with us in the management of Knight's Bridge and our new Fund."

About Counsel Corporation

Counsel Corporation (TSX:CXS) is an international asset management firm that actively partners with businesses to achieve shared success and to unlock value through leveraging our relationships, our access to capital and our strategic market experience. For further information, please visit Counsel's website at www.counselcorp.com.

About Knight's Bridge

Knight's Bridge Capital Corporation is a strategic investor making investments in equity or equity like securities of entrepreneurial businesses that can benefit from its extensive strategic, financial and operational expertise. Knight's Bridge not only supplies businesses with much needed capital but also partners with them to ensure the successful execution of well thought out business strategies.

Forward-Looking Statements

The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address Counsel's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which Counsel currently operates, but because of the factors listed herein, as well as other factors beyond Counsel's control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, obtaining necessary approvals and other risks detailed from time to time in Counsel's securities and other regulatory filings.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities described herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under applicable securities laws of any such jurisdiction. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act") and may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act.

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