SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

March 13, 2008 09:09 ET

SelectCore Announces Management Changes and Expense Reductions

TORONTO, ONTARIO--(Marketwire - March 13, 2008) - SelectCore Ltd. (TSX VENTURE:SCG), one of Canada's fastest-growing companies is pleased to announce that the Company has successfully completed the integration of operations with the recently acquired Canquest Communications. "We expect to realize significant annualized cost savings as a result of staff reductions and many operational efficiencies that have been implemented." said Peter Burdon, CFO of SelectCore" The majority of the reorganization costs will be accounted for in the fourth quarter of 2007, with the balance in the first quarter of 2008.

As part of the reorganization, the Company has accepted the resignation of its Chief Operating Officer, Robert Cikalo. The directors and management of the Company wish to thank Mr. Cikalo for the valuable contribution he has made to the growth of SelectCore during his tenure, and wish him luck in his new endeavours. Members of SelectCore's board of directors and management team have arranged to purchase essentially all of Mr. Cikalo's share holdings in a transaction which has been approved by the TSX Venture Exchange.

The Company also announces that its Chairman, David Parkes is now supporting the management team more actively. "Since joining our board, David has made significant contributions to developing our strategic direction and has provided invaluable support to our management team" said, Keith McKenzie, SelectCore's CEO. "We look forward to spending more time with David on the execution of our growth strategy". The Company has granted Mr. Parkes 500,000 options to purchase common shares of the Company at 15 cents per share for a period of 60 months.

About SelectCore:

Established in 1999, SelectCore is in the business of providing prepaid telecommunication solutions to under-serviced and credit-challenged consumer markets across Canada. The offerings, which include wireless, home telephone, long distance and broadband internet, are marketed through the company's nation-wide distribution channel of independent and chain retailers. SelectCore's technology division maintains its own network infrastructure and provides telecom switching and transaction-based services to several corporate clients including Canada's largest incumbent phone companies. The Company is listed on the TSX Venture Exchange under the symbol "SCG". Profit 100 ranked SelectCore one of Canada's fastest-growing companies in 2006 and again in 2007.

This news release contains projections and other forward-looking statements regarding future events. Such statements are predictions, which may involve known and unknown risks, uncertainties and other factors, which could cause the actual events or results and objections to differ materially from those expressed.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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