Integrated Asset Management Corp.

Integrated Asset Management Corp.

July 31, 2006 07:00 ET

Integrated Asset Management Corp. and Integrated Private Debt Corp. Announce $29.5 Million Financing for Provincial Airlines Limited

TORONTO, ONTARIO--(CCNMatthews - July 31, 2006) - Integrated Asset Management Corp. (TSX VENTURE:IAM) ("IAM") and its private corporate debt division, Integrated Private Debt Corp.("IPD") announced today the closing of a senior secured loan of $29.5 million to Provincial Airlines Limited ("PAL").

IPD provides funding from and manages the $600 million Integrated Private Debt Fund LP. IPD offers fixed rate term loans to mid-market companies for such purposes as refinancing existing debt, business expansion and project finance. Loan origination, underwriting, structuring, management and administration are provided by IPD.

Founded in 1972, PAL is the largest independent air services company in Atlantic Canada providing full-time aerial surveillance for Fisheries and Oceans, Canada over Canada's Atlantic and Pacific coasts. Additionally, PAL operates regional scheduled and contract passenger and cargo service, international charter airline services, aircraft modification and maintenance services, fixed base operations and aviation fuel dealerships.

PAL announced on July 14 that it had signed a 10 year agreement valued at more than $ U.S. 100 million with the Dutch government to provide air reconnaissance aircraft and operations in the Netherland Antilles and Aruba. The aircraft and crews will be tasked to save lives at sea, track down offenders on environmental, economic and fisheries matters and intercept drug transports in the Caribbean area.

IPD is pleased to continue its eleven year relationship with PAL. IPD strives to build productive long-term relationships with borrowers, including provision of follow-on financing. The loan, which has a 10 year term, will be used to acquire, modify, equip and operate Bombardier Dash 8 aircraft for the contract.

IAM is Canada's leading alternative asset management company, with approximately $3 billion in assets and committed capital under management in private debt, private equity, managed futures, real estate and hedge funds.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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