Manitou Capital Corporation

Manitou Capital Corporation

March 30, 2005 16:02 ET

Manitou Capital Announces Continued Improving Revenue and Profitability


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MANITOU CAPITAL CORPORATION

TSX VENTURE SYMBOL: MOU

MARCH 30, 2005 - 16:02 ET

Manitou Capital Announces Continued Improving Revenue
and Profitability

TORONTO, ONTARIO--(CCNMatthews - March 30, 2005) - Manitou Capital
Corporation (TSX VENTURE:MOU) (Manitou) today announced its results for
the year ended December 31, 2004.

Revenue from continuing operations for 2004 was $2,166,405 as compared
to $1,771,426 for the year ended December 31, 2003 - an increase of 22%.

Manitou had earnings from continuing operations for 2004 of $17,606 or
$0.001 per share as compared to a loss of $128,222 ($0.009 per share)
for 2003.

As previously reported, Manitou sold its 100% owned subsidiary, The
Investment Shop Inc., for $900,000 on January 30, 2004 and reported a
net gain of $279,336 from the sale. Manitou's net earnings for the year,
including the non-recurring gain from the sale of The Investment Shop
Inc. were $296,942 or $0.021 per share as compared to a loss in 2003 of
$57,281 or $0.004 per share. The 2003 loss includes net earnings from
The Investment Shop Inc. of $70,941.

For more information, including the December 31, 2004 financial
statements and management discussion and analysis please see our letter
to shareholders and proxy information material dated March 30, 2005
posted on Manitou's website at www.manitoucapital.com.

Manitou shares are listed for trading on the TSX Venture Exchange under
the symbol MOU.



MANITOU CAPITAL CORPORATION

Year ended Year ended
Dec. 31, 2004 Dec. 31, 2003
------------- --------------

Revenue $ 2,166,405 $ 1,771,426

Earnings/(Loss) from continuing
operations before minority
interest and gain on dilution $ 7,011 $ (307,576)

Earnings/(Loss) from continuing
operations $ 17,606 $ (128,222)

Net earnings from discontinued operations 0 $ 70,941

Net gain from sale of discontinued
operations $ 279,336 0

Earnings/(Loss) $ 296,942 $ (57,281)

Earnings/(Loss) from continuing
operations per share $ 0.001 $ (0.009)

Earnings/(Loss) per share $ 0.021 $ (0.004)


Quarter ended Quarter ended
Dec. 31, 2004 Dec. 31, 2003
------------- --------------

Revenue $ 557,523 $ 485,072

(Loss) from continuing operations
before minority interest and
gain on dilution $ (16,387) $ (42,459)

Earnings/(Loss) from continuing
operations $ (8,929) $ 6,109

Net earnings from discontinued operations 0 $ 50,046

Earnings/(Loss) $ (8,929) $ 56,155

Earnings/(Loss) from continuing
operations per share $ (0.0006) $ 0.0004

Earnings/(Loss) per share $ (0.0006) $ 0.0039


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Manitou Capital Corporation
    Deborah O'Reilly
    Chief Financial Officer
    (416) 628-6523
    The TSX Venture Exchange has neither approved nor disapproved of the
    information contained herein.