March 17, 2008 12:41 ET

eResearch Initiates Coverage on Maple Leaf Reforestation Inc.

TORONTO, ONTARIO--(Marketwire - March 17, 2008) - Maple Leaf Reforestation Inc. is a Canadian company whose products and services are top government priorities in China. The Company has a sound business strategy with steady revenue from greenhouse sales, while its joint ventures offer good growth prospects.

eResearch has initiated coverage of Maple Leaf Reforestation Inc. as a Speculative Buy for risk-tolerant investors. Our 12-month Target Price of $0.75 per share is contingent upon new management delivering contracts on time and achieving the corresponding anticipated profitability.

Maple Leaf Re operates a greenhouse in Inner Mongolia that supplies nursery seedlings that are targeted at China's environmental improvement market. The Company also has two joint ventures: (1) The Yellowhorn tree "anti-desertification", biodiesel, and cooking oil joint-venture project with the Xinjiang provincial government; and (2) A joint-venture with Huize Forestry Co. Ltd of Changzhi, Shanxi Province, under which Maple Leaf Re will be invited to participate in Huize's existing and upcoming contracts with Changzhi City.

This Press Release was prepared by eResearch and was not vetted by Maple Leaf Reforestation Inc. Further, the Recommendation and Target Price contained in this report are strictly those of eResearch and, due to securities laws, are not endorsed by Maple Leaf Reforestation Inc.

eResearch is Canada's primary source for independent, quality, investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive electronic distribution network. eResearch does not engage in retail or institutional sales, trading, or corporate finance activities, nor does it conduct investment banking or investor relations services for the companies covered. Our sole business is providing quality, unbiased research.

Maple Leaf Reforestation Inc. paid eResearch a fee of $20,000 + GST to conduct research on the Company, on an Annual Continuous Coverage basis.

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