GrowthWorks Capital Ltd.

GrowthWorks Capital Ltd.

March 04, 2005 15:06 ET

GrowthWorks(i) Finalizes Acquisition of Fullarton Capital



MARCH 4, 2005 - 15:06 ET

GrowthWorks(i) Finalizes Acquisition of Fullarton

TORONTO, ONTARIO--(CCNMatthews - March 4, 2005) - GrowthWorks WV
Management Ltd. (GrowthWorks) announced today it has finalized the
acquisition of Fullarton Capital Corporation, manager of Capital
Alliance Ventures Inc. (CAVI) and Canadian Science and Technology Growth
Fund Inc. (CSTGF), bringing its assets under management to approximately
$800 million.

"We are very pleased with the addition of these funds to GrowthWorks'
growing portfolio of labour-sponsored investment funds," said David
Levi, President & CEO of GrowthWorks. "We expect our proven track record
and management expertise in the asset class will benefit current
shareholders of CAVI and CSTGF."

CAVI and CSTGF are labour-sponsored investment funds that invest
primarily in private technology companies in Ontario and across Canada,
respectively. It is anticipated that each of CAVI and CSTGF will seek
shareholder approval to merge operations in the Fall of 2005 with
GrowthWorks Canadian Fund Ltd.

Effective with the close of the transaction, GrowthWorks assumed sales
and marketing responsibilities for both CSTGF and CAVI. GrowthWorks
expects to assume back office and administration responsibilities for
both Funds in the Fall of 2005.

About GrowthWorks

GrowthWorks ( is a recognized leader in venture
capital fund management with proven experience in the raising and
managing of capital. GrowthWorksTM managed funds, including the Working
Opportunity Fund, GrowthWorks Canadian Fund, GrowthWorks
Commercialization Fund and 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.

(i)GrowthWorks means the affiliates of GrowthWorks Ltd. and includes
GrowthWorks Capital Ltd., manager of the Working Opportunity Fund (EVCC)
Ltd., GrowthWorks WV Management Ltd., the manager of GrowthWorks
Canadian Fund Ltd. and GrowthWorks Commercialization Fund Ltd., and
GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund


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