GrowthWorks WV Management Ltd.

GrowthWorks WV Management Ltd.

January 16, 2006 16:53 ET

GrowthWorks Commercialization Fund Makes Six New Investments-GrowthWorks WV Management Ltd.

TORONTO, ONTARIO--(CCNMatthews - Jan. 16, 2006) - GrowthWorks Commercialization Fund, which invests in research-oriented early stage companies, made investments in six Ontario companies in 2005 totaling $3.75 million.

"The mandate for this Fund is to provide solid returns to investors by helping early stage companies commercialize their technologies," said Les Lyall, Senior Vice President of GrowthWorks(i). "We believe over the long term these investments will provide solid value to shareholders of GrowthWorks Commercialization Fund."

The six companies chosen for investment by the Fund were Biomedical Photometrics Inc. (BPI), CHiL Semiconductor Inc., Medworxx Inc., neuroLanguage Corporation, Paymentus Inc., and xkoto Inc.

BPI, a Waterloo, Ontario based company, uses its MACROscope® technology to enable high resolution scanning and digital imagery of tissue samples and slides. The more detailed level of analysis that results from BPI's technology is beneficial in identifying and monitoring various types of cancer.

CHiL Semiconductor, based in Ottawa, Ontario, has designed a digital power chip that improves the ability to support the volatile power demands of next generation CPUs by up to ten times, while at the same time reducing the need for capacitors and board space. The ChiL technology has applications in the PC, server, datacom/telecom, and aerospace electronics markets.

Medworxx is a Toronto, Ontario based company that provides content management and knowledge sharing solutions for the healthcare market. The Medworxx suite of Knowledge Management products enables healthcare organizations to create, publish, manage, track, and analyze corporate and departmental content and information, including educational courseware.

neuroLanguage in Ottawa, Ontario provides online executive English language training for international corporations, government entities and training centers. Based on a unique neuroscientific and research-based approach, the E3 Suite for English Language Development gives specific emphasis to appropriate industry-specific language and builds on, rather than competes with, other English instruction. neuroLangauge also implements large-scale e-learning deployments into school systems.

Paymentus, a Richmond Hill, Ontario based company, provides enhanced electronic payment services for financial institutions and businesses. Through its Instant Payment Network (IPN), financial institutions can offer clients the option of one-time or recurring payments by any electronic check, funds transfer, or credit card. IPN enables companies to increase the reach and volume of their online banking solutions by meeting consumer demand for payment flexibility while also significantly reducing customer service costs.

xkoto is based in Toronto, Ontario and is focused on database scalability appliance technology. Scalable database enterprise computing allows users to add computers to the server room and link them together at a much lower cost than traditional means.

In addition to up to 35% in tax credits for eligible investors, GrowthWorks Commercialization Fund also provides investors with the added bonus of dividend payments over a three-year period(+). The total of the tax credits, RRSP deduction, and dividend payments over three years results in a $5,000 RRSP investment that can virtually pay for itself.

About GrowthWorks

GrowthWorks ( 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, and GrowthWorks Atlantic Venture Fund, 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.

(i)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. and GrowthWorks Commercialization Fund Ltd., and GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund Ltd.

(+)Tax credits are subject to certain conditions, including repayment if shares are not held for eight years and annual maximums depending on province of residence. RRSP tax savings are subject to certain conditions, are not unique to the Fund and amounts are taxable when withdrawn. Commissions, trailing commissions, management fees and expenses all may be associated with investments in labour-sponsored investment funds (LSIFs). Please read the Fund's prospectus before investing. LSIFs are not guaranteed, their values change frequently and past performance may not be repeated. The Board of Directors of the Fund has adopted a dividend policy to pay cash dividends on the Fund's shares equal to approximately 25% of the purchase price of the shares during the period 2006 through 2009. The timing of those dividends is not fixed and payment of the dividends is not guaranteed. The Fund offers different series of Commercialization shares. Net assets of the Fund, including venture investments are allocated to a series based on the series' investment program.

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