Counsel Corporation
TSX : CXS

Counsel Corporation
Knight's Bridge Capital Partners Inc.

Knight's Bridge Capital Partners Inc.

March 10, 2008 08:00 ET

Knight's Bridge Closes Private Equity Fund With Over $62 Million of Commitments

TORONTO, ONTARIO--(Marketwire - March 10, 2008) - Counsel Corporation ("Counsel") (TSX:CXS) and Knight's Bridge Capital Partners Inc. ("Knight's Bridge") announced today that Knight's Bridge Capital Partners Fund I (the "Fund") has closed on capital commitments in excess of $62 million. The Fund will make equity and equity-oriented investments of up to $10 million in small to mid-market businesses in Canada and the United States.

"The Fund will look to create value for its investors in businesses that can benefit from Knight's Bridge's extensive strategic, financial and operational expertise," said Kenny Finkelstein, the President and Chief Executive Officer of Knight's Bridge. Mr. Finkelstein continued, "We are currently reviewing several exciting opportunities which we believe will make excellent investments for the Fund."

Knight's Bridge had targeted for the Fund to raise between $50 and $80 million, requiring one or more secondary closings; however, as a result of the rapid and overwhelming support by investors, the Fund does not anticipate any additional closings.

Allan Silber, the Chairman and Chief Executive Officer of Counsel commented, "We are gratified by the support we have received by investors, which underscores their collective confidence in Knight's Bridge's strategy, Kenny Finkelstein and the rest of the management team." Mr. Silber continued, "The establishment of the Fund continues to build on the significant progress that Counsel has made during the past year in its various business initiatives."

About Knight's Bridge

Knight's Bridge is an opportunistic and diversified financial services provider located in Toronto, Canada and Phoenix, Arizona with a focus on building portfolio companies into market leaders. Knight's Bridge focuses on making investments in businesses and industries where other private equity investors have historically lacked focus, and looks to invest in businesses that are being operated by passionate and experienced entrepreneurs. Knight's Bridge also provides guidance, strategic support and access to key contacts - not just capital. Knight's Bridge is a wholly-owned subsidiary of Counsel. For further information, please visit Knight's Bridge's website at www.kbcpartners.com.

About Counsel Corporation

Counsel Corporation (TSX:CXS) is an international asset management firm that actively partners with businesses to achieve shared success and to unlock value through leveraging our relationships, our access to capital and our strategic market experience. For further information, please visit Counsel's website at www.counselcorp.com.

Forward-Looking Statements

The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address Counsel's or Knight's Bridge's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which Counsel and Knight's Bridge currently operate, but because of the factors listed herein, as well as other factors beyond Counsel's and Knight's Bridge's control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, obtaining necessary approvals and other risks detailed from time to time in Counsel's securities and other regulatory filings.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities described herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under applicable securities laws of any such jurisdiction. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act") and may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of Securities Act.

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