Freeport Capital Inc.
TSX VENTURE : F.P

July 11, 2008 15:41 ET

Freeport Capital Inc. Transfers to NEX

CALGARY, ALBERTA--(Marketwire - July 11, 2008) -

(NOT FOR DISSEMINATION IN THE UNITED STATES)

Freeport Capital Inc. (TSX VENTURE:F.P) ("Freeport" or the "Corporation"), announces, in accordance with TSX Venture Exchange Policy 2.4, that the Corporation has not completed a qualifying transaction within the 24 month prescribed time frame. Therefore, effective July 15, 2008, the Corporation's tier classification will be changed from Tier 2 to NEX.

In connection with the transfer to NEX, 400,000 common shares of the Corporation purchased by directors of the Corporation and held in escrow have been cancelled effective July 9, 2008. For further information on the listing transfer and the share cancellation, please refer to the management information circular of the Corporation dated March 10, 2008 and filed on www.sedar.com on March 13, 2008.

As of July 15, 2008, Freeport will be subject to restrictions on certain share issuances and certain types of payments as set out in the NEX policies.

The trading symbol for the Corporation will change from F.P to F.H and the filing and service office will change from Calgary to NEX. Further to the TSX Venture Exchange Bulletin dated April 14, 2008, trading in Freeport's common shares will remain suspended.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Freeport assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Freeport. Additional information identifying risks and uncertainties is contained in certain of Freeport's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information