Excelsior Energy Limited
CNQ : EXEL

Excelsior Energy Limited

March 13, 2007 17:03 ET

Update on Excelsior's Private Placement

CALGARY, ALBERTA--(CCNMatthews - March 13, 2007) - Excelsior Energy Limited ("Excelsior") (CNQ:EXEL) wishes to announce that further to its press releases dated February 8, 2007 and February 21, 2007 which announced the increase in the Private Placement to $3 million, Excelsior has determined that it is in the best interests of the company, to extend the closing date of the Private Placement to allow more time for some investors to finalise subscription agreements and transfer funds.

The Private Placement will now close on or before March 23, 2007.

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