SOURCE: Longview Capital Partners Incorporated

May 15, 2008 16:23 ET

Longview Capital Partners Posts Loss of $15.8 Million After-Tax in Q108

VANCOUVER, BC--(Marketwire - May 15, 2008) - Longview Capital Partners Incorporated (TSX: LV) (PINKSHEETS: LGVWF) (FRANKFURT: L6V) announces its financial results for the first three months of 2008 which ended March 31, 2008. A net loss of $15.8 million or $0.14 per share was recorded for the three month period ended March 31, 2008 versus a net profit of $24.5 million or $0.24 per share (basic) for the same period in 2007. At March 31, 2008 the Company held investments with a fair value of $79.6 million compared to $105.6 million at December 31, 2006.

Longview Capital Partners recorded realized gains on disposal of investments of $5.8 million and unrealized investment losses of $28.6 million in the first quarter ended March 31, 2008 compared to realized investment gains of $3.3 million and unrealized investment gains of $35.3 million in the first quarter of 2007. Net cash generated from investing activities was $3.2 million compared to cash generated of $2.6 million in the same period of 2007. Longview Capital Partners investment portfolio at March 31, 2008 included 37 public companies and 19 private companies.

"Longview Capital Partners portfolio experienced what I believe to be a temporary decline in the first quarter. Many of our investments value has been diminished by excessive pessimism even where they have communicated significant positive progress," said Damien Reynolds, founder, Chairman and CEO of Longview Capital Partners. "Market conditions continue to be challenging many of our investee companies, to include, for example Buffalo Gold. Buffalo Gold and others are trading well below their net asset value and, by definition, are not reflecting their intrinsic value. Having said that, I am confident that we will see a general realignment of values across a broad portfolio of junior stocks in the not too distant future to include some of our own investee companies."

John Icke, President and Chief Operating Officer of Longview Capital added, "The decline in the junior resource market is reflective of the 12.3% drop in the TSX-V index for the first 3 months of 2008. These tough prevailing market conditions are influencing how we conduct our business. Improving our cash position, reducing operating costs and being more prudent about our exploration costs and subsequent investments are all part of our strategic plan designed to execute fewer higher quality deals. While we must be fiscally responsible, the current scenario also provides for a variety of investment opportunities at a significant discount to their potential market value. The skill and proven experience that Longview Capital Partners has already demonstrated in uncovering and developing undervalued projects places us in a potentially favourable position."

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."

To view Longview Capital Partners' Consolidated Balance Sheet, Statement of Operations and Retained Earnings, and Statement of Cash Flows for the three months ended March 31, 2008 and 2007, please click on the link provided: http://www.usetdas.com/maps/longview/longviewconsolidatedbalancesheets.pdf.

Readers are referred to the notes and management discussion and analysis that are an integral part of these financial statements, which can be found on the SEDAR website at www.sedar.com or on our website at www.longviewcp.com.

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.

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