FCMI Financial Corporation Acquires Shares of Counsel Corporation

TORONTO, ONTARIO--(Marketwire - Jan. 25, 2011) - FCMI Financial Corporation has acquired 2,148,438 Series B Preferred Shares of Counsel Corporation (TSX:CXS) from Sherfam Inc. FCMI Financial Corporation immediately converted such Series B Preferred Shares into 5,500,001 Common Shares of Counsel Corporation at a conversion price of $0.75 per Common Share. FCMI Financial Corporation, its affiliates and accounts managed by one of its affiliates now hold 15,147,751 Common Shares, representing 19.62% of the issued and outstanding Common Shares of Counsel Corporation.

The Series B Preferred Shares (and the Common Shares resulting from the conversion of the Series B Preferred Shares) were acquired for investment purposes. FCMI Financial Corporation intends, subject to market conditions, to make additional acquisitions or dispositions in securities of Counsel Corporation in the future.