Maklyn Venture Capital Corp.

March 29, 2005 17:00 ET

Maklyn Shareholders Approve Amalgamation with QuStream Corporation


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MAKLYN VENTURE CAPITAL CORP.

TSX VENTURE SYMBOL: MAK.P

MARCH 29, 2005 - 17:00 ET

Maklyn Shareholders Approve Amalgamation with QuStream
Corporation

CALGARY, ALBERTA--(CCNMatthews - March 29, 2005) -

(Not for dissemination in the United States of America)

Maklyn Venture Capital Corp. (TSX VENTURE:MAK.P) ("Maklyn") today
announced that the shareholders of Maklyn unanimously approved the terms
of the non-arm's length formal amalgamation agreement between Maklyn and
QuStream Corporation ("QuStream"), pursuant to which Maklyn and QuStream
have agreed to amalgamate (the "Business Combination") to form a new
company to be called QuStream Corporation. The Business Combination was
also approved by the Majority of the Minority shareholders of Maklyn.

QuStream is a private company based in Toronto, Ontario that through its
wholly-owned subsidiary, PESA Switching Systems, Inc. ("PESA"), designs,
develops and distributes router switching technology for the
broadcasting industry, professional television and the Pro audio visual
industries.

The Business Combination will constitute a Qualifying Transaction of
Maklyn as defined in Policy 2.4 of the TSX Venture Exchange Inc. ("TSX
Venture") Corporate Finance Manual.

The completion of the Business Combination is subject to the approval of
TSX Venture and all other necessary regulatory approval, including from
the Autorite des marches financiers (Quebec). Closing of the Business
Combination is expected to occur effective April 1, 2005.

As indicated above, completion of the Business Combination is subject to
a number of conditions, including but not limited to, TSX Venture
acceptance. The Business Combination cannot close until the required
approvals are obtained. There can be no assurance that the Business
Combination will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Information
Circular of Maklyn in connection with the Business Combination, any
information released or received with respect to the Business
Combination may not be accurate or complete and should not be relied
upon. Trading in the securities of Maklyn should be considered highly
speculative.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Maklyn Venture Capital Corp.
    Howard G. Sutton
    President
    (416) 368-1024
    or
    QuStream Corporation
    Fred Godard
    President and Chief Executive Officer
    (416) 904-5458
    The TSX Venture Exchange Inc. has in no way passed upon the merits of
    the Business Combination and has neither approved nor disapproved the
    contents of this press release.