Pethealth Inc.

Pethealth Inc.

March 15, 2005 09:00 ET

Pethealth Inc. Grants Stock Options


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PETHEALTH INC.

TSX VENTURE SYMBOL: PTZ

MARCH 15, 2005 - 09:00 ET

Pethealth Inc. Grants Stock Options

OAKVILLE, ONTARIO--(CCNMatthews - March 15, 2005) - Pethealth Inc.
("Pethealth" or "the Company") (TSX VENTURE:PTZ) today announced grants
of stock options to certain directors of the Company under the Employee
Stock Option Plan previously approved by the TSX Venture Exchange in
December 2000. The Board of Directors of Pethealth, at their regularly
scheduled meeting, granted such directors of the company an aggregate of
1,450,000 at an exercise price of $0.195. In accordance with the
Company's Employee Stock Option Plan, the options have a term of 10
years and vest over 3 years.

About Pethealth

Founded in February 1998, Pethealth is Canada's number one provider of
pet insurance and is number two in North America, currently offering its
PetCare Pet Insurance Programs in 10 provinces, 48 states plus
Washington, D.C. In addition to the PetCare Pet Insurance Programs,
Pethealth offers its pet insurance programs under a variety of names,
including QuickCare, ShelterCare and Union Plus Pet Insurance. In the
United States, the PetCare Pet Insurance Programs are underwritten by
Lincoln General Insurance Company, York, PA, and administered by PetCare
Insurance Brokers Ltd. and PetCare Insurance Agency, Ltd., both wholly
owned subsidiaries of the Company. In Canada, the Company's pet
insurance is underwritten by ING Novex, a member of ING Group, and
Kingsway General Insurance Company and offered through PetCare Insurance
Brokers Ltd. In addition, Pethealth, through its wholly owned
subsidiaries Pethealth Services Inc. and Pethealth Services (USA) Inc.,
distributes Allflex pet microchip supplies to the companion animal
market in North America and operates the related pet recovery registry
under the trade name 24PetWatch.

During 2004, the Company completed two innovations: PetPoint, the first
web-hosted management software program for animal welfare organizations
in North America, which allows shelters to easily offer the ShelterCare
insurance and the 24PetWatch microchip programs electronically at the
point of adoption; and EVE, the first web-based claims adjustment
software for veterinary clinics in North America. This program, the
first of its kind in the pet insurance industry, allows claims to be
adjusted online at the veterinary clinic, thus simplifying the claims
adjudication process.

Pethealth is based in Oakville, Ontario. To find out more about
Pethealth Inc. (TSXV: PTZ), visit the web site at www.pethealthinc.com.

Statements contained in this news release, if not historical, are
forward-looking statements, which involve risks and uncertainties that
could cause actual results to differ materially from the results
described in forward-looking statements.

Not for dissemination in the United States of America or to United
States news wire services.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Pethealth Inc.
    Mark Warren
    President and CEO
    (905) 842-2615
    or
    Pethealth Inc.
    Glen Tennison
    Chief Financial Officer
    (905) 842-2615
    The TSX Venture Exchange Inc. has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.