GrowthWorks Capital Ltd.

GrowthWorks Capital Ltd.
GrowthWorks WV Management Ltd.

GrowthWorks WV Management Ltd.
GrowthWorks Atlantic Ltd.

GrowthWorks Atlantic Ltd.

September 30, 2005 17:54 ET

GrowthWorks Capital Ltd. and GrowthWorks WV Management Ltd. and Growthworks Atlantic Ltd.: Ontario Government to Continue Tax Credit Program for LSIFs

TORONTO, ONTARIO--(CCNMatthews - Sept. 30, 2005) - The Ontario Government announced today that it will continue the Ontario labour-sponsored investment fund (LSIF) tax credit program through the 2011 RRSP sales season.

"We are pleased the Ontario government has listened to industry, entrepreneurs and other members of the venture capital community about the importance of LSIFs in providing much needed venture capital to the Ontario marketplace," said David Levi, President and CEO of GrowthWorks.

The 15% provincial tax credit will be in effect for the next four RRSP seasons, followed by a 10% tax credit for the 2010 season and a 5% tax credit for the 2011 RRSP season.

The Ontario government's decision affects several GrowthWorks managed funds: GrowthWorks Canadian Fund, GrowthWorks Commercialization Fund, GrowthWorks Opportunity Fund, Canadian Alliance Ventures Inc. and Canadian Science and Technology Growth Fund. The additional 5% Ontario tax credit offered on Research Oriented Investment Funds, like GrowthWorks Commercialization Fund, would also eventually be phased out on the same timeline.

About GrowthWorks GrowthWorks (www.growthworks.ca) is a recognized leader in venture capital fund management with proven experience in the raising and managing of capital. GrowthWorks™ managed funds, including the Working Opportunity Fund, GrowthWorks Canadian Fund, GrowthWorks Commercialization Fund, GrowthWorks Atlantic Venture Fund, and Fullarton Capital managed funds, have approximately $800 million in combined assets.

GrowthWorks has a team of skilled and knowledgeable investment professionals with a combined 200 years of experience. The Investment team has a proven track record of identifying, analyzing and structuring investments in emerging sectors. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd.

GrowthWorks refers to affiliates of GrowthWorks Ltd. and includes GrowthWorks Capital Ltd., manager of the Working Opportunity Fund (EVCC) Ltd., GrowthWorks WV Management Ltd., manager of GrowthWorks Canadian Fund Ltd., GrowthWorks Opportunity Fund Ltd. and GrowthWorks Commercialization Fund Ltd., GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund Ltd., and Fullarton Capital Corporation, manager of Canadian Science and Technology Growth Fund Inc. and Capital Alliance Ventures Inc.

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