Clairvest Group Inc.
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Wellington Financial LP

Wellington Financial LP

June 16, 2005 16:32 ET

Wellington Financial LP Provides $3 Million Financing for DreamCatcher Inc.

TORONTO, ONTARIO--(CCNMatthews - June 16, 2005) - Wellington Financial Fund II ("Wellington"), a privately-held specialty finance firm, announced the closing of a $3 million debenture financing for Toronto-based DreamCatcher Inc. ("DreamCatcher").

DreamCatcher is one of Canada's leading interactive entertainment publishers and distributors. DreamCatcher publishes games on multiple platforms, including PC, Playstation®2 computer entertainment system, GameCube®, and Xbox™. DreamCatcher has been recognized as the publisher of several #1 ranked entertainment and adventure games, according to NPD.

"Wellington is delighted to join existing investors VenGrowth Capital Partners and Lawrence & Co. in supporting the growth of one of Canada's few large independent software publishing firms," said Mark McQueen, President and Chief Executive Officer of Wellington Financial LP. "While the development teams get most of the publicity, firms such as DreamCatcher often work with developers at the earliest stage of the creative process. And, with existing relationships at Wal-Mart, Best Buy, EB Games, Circuit City and other leading retailers, DreamCatcher helps some of the best development teams from around the world get their ideas and products onto store shelves."

Richard Wah Kan, President and Chief Executive Officer of DreamCatcher, added: "We are pleased to be working with a leading financial institution in Wellington Financial. This financing helps DreamCatcher move ahead and execute its business plan without interruption."

With the closing of this financing, Wellington has now closed 10 transactions since March 2004, making it the most active fund of its kind in Canada.

About Wellington Financial LP

Founded in 2000, Wellington Financial LP is a privately held $83 million specialty finance bridge lending, term and venture debt firm, providing debt financing for private and public companies in its chosen fields. Wellington transactions are generally between $2 million and $10 million, but the fund has issued term sheets up to $30 million due to its ability to syndicate transactions. Wellington clients vary in size, sector and business model, but generally have current year revenue of at least $5 million. Wellington is managed by a partnership controlled by Fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to Fund II. Wellington's limited partners include several Canadian institutional investors, such as pension funds, life insurance companies and money managers. Please visit our website at www.wellingtonfund.com.

About DreamCatcher Inc.

Founded in 1996, DreamCatcher is one of Canada's largest publishers of PC and console entertainment software. Under The Adventure Company label, the company is the leading publisher of PC adventure titles in North America and is known for publishing leading interactive titles at an affordable price. DreamCatcher is based in Toronto, Ontario, Canada. Visit the company web site at www.DreamCatchergames.com.

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