SOURCE: Longview Capital Partners Incorporated

July 07, 2008 08:30 ET

Longview Capital Announces Cost Reductions, Management Changes

Operating Costs Down 50%, New Investments Will Drive Future Growth

VANCOUVER, BC--(Marketwire - July 7, 2008) - Longview Capital Partners Incorporated (TSX: LV) (FRANKFURT: L6V) wishes to provide an update of its business in the first half of 2008. Key points include progress in reducing operating costs as well as management and board changes.

The Company has reduced annualized operating costs by 49% for the first 6 months, while funding select new investments to provide material future growth in Longview Capital's portfolio. The focus will be on fewer, larger opportunities. Longview Capital continues to provide significant support to Buffalo Gold, Cue Resources and Oriental Minerals, in order to ensure full value is recognized in each of these investments. More recent investments, such as Mega Moly, Pacific Coast Nickel, Pencari Mining and Fortress Base Metals, will also provide significant opportunities for growth within the Longview Capital portfolio.

Operating Cost Update

Longview Capital has aggressively reduced its operational infrastructure and cost base to reflect the challenging market conditions for the junior resource sector. This has resulted in:

* Total G&A costs reduced to $3.4 million for the six months ending
  June 30th
* Headcount reduction of 15 staff - a 34% reduction from December
  31st, 2007
* Estimated 20% less new project investigation costs by focusing on fewer,
  larger opportunities

The General and Administrative expense estimate above does not take into account any fees received for Longview Capital's advisory and/or management services.

John Icke, President and COO of Longview Capital, stated, "Our corporate structure had been built to accommodate explosive growth in our business -- we are now much more aligned with the realities of prevailing market conditions. We will continue to prudently extract costs while ensuring resources are dedicated to making the business more profitable."

Management and Board Changes

Ian Fodie has stepped down as Chief Financial Officer of Longview Capital, effective June 30, 2008, in order to take on the role of CEO of Oriental Minerals Inc. Longview Capital is pleased to announce that Roger Foster, currently the Company's Controller, has assumed the role of interim Chief Financial Officer. Mr. Foster joined Longview in November 2007, having had progressively senior roles with a number of public companies for the past 8 years. Previous to that, he was the audit senior at Ellis Foster, Chartered Accountants (now part of Ernst & Young LLP).

Mr. Fodie joined Longview Capital as Chief Financial Officer on January 22, 2007 and has been an integral member of Longview's Executive Management Team since that time. Damien Reynolds, Chairman and CEO, said: "It has been a pleasure working with Ian for the last eighteen months and we are excited to have him take on an even greater role with Oriental Minerals."

John Park has resigned from Longview Capital's Board of Directors, effective immediately. Mr. Park joined the Longview Capital board in October 2005. Damien Reynolds said: "I have appreciated John's input on the board and wish him well as he concentrates on his other commitments."

About Longview Capital Partners

Longview Capital Partners is an investment company creating long-term shareholder value by capitalizing on early stage opportunities in the natural resource sector, and having the resultant earnings growth recognized in its share price. Longview Capital Partners first began trading on September 5, 2005 and graduated to the TSX senior Exchange on September 24, 2007 under the same symbol "LV."

For more information on Longview Capital Partners Incorporated, please contact Mr. Spiro Kletas, Investor Relations, at (604) 681-5755 or visit our website at

Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.

The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information