GrowthWorks Capital Ltd.

GrowthWorks Capital Ltd.

December 05, 2006 17:28 ET

WOF Available With a Five-Year Hold for a Limited Period-GrowthWorks Capital Ltd.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 5, 2006) - The Board of Directors of the Working Opportunity Fund (EVCC) Ltd. today approved the Fund's Venture Series for sale from January 1, 2007 to March 1, 2007(ii) with a five-year hold, subject to necessary regulatory approval.

While the Fund, its Manager and the Board remain committed to an eight-year hold due to the nature of the venture capital lifecycle, the Manager and the Board believe the Fund is in a position to respond to changes in the competitive landscape in BC and offer a five-year hold for a limited period.

"The Fund is currently in a good position in terms of size as well as maturity and diversification of the venture portfolio which allows us to make this one time offer," said David Levi, President and CEO of the Fund. "We are pleased to be able to allow this opportunity for a select timeframe."

Purchase $10,000 This Year

To take full advantage of this offer, investors can purchase $10,000 of the Fund during January 1, 2007 to March 1, 2007. This would allow them to receive up to $3,000 in tax credits(iii) split between the 2006 and 2007 taxation years and take advantage of the five-year hold.

Early Redemption Adjustment

To ensure that the cost of commissions paid by the Fund to registered dealers is borne equitably among Venture Series shareholders, it is planned that there will be an early redemption charge equal to the balance of any unamortized commission not yet charged to the redeemed shares under the Pricing NAV system for shareholders accessing their redemption right after five years and before eight years.

About GrowthWorks(i)

GrowthWorks (www.growthworks.ca) is a recognized leader in venture capital fund management with proven experience in the raising and managing of capital. GrowthWorksTM managed funds, including the Working Opportunity Fund, GrowthWorks Canadian Fund, GrowthWorks Commercialization Fund, and GrowthWorks Atlantic Venture Fund, have approximately $800 million in combined assets.

GrowthWorks has a team of skilled and knowledgeable investment professionals with a combined 200 years of experience. The Investment team has a proven track record of identifying, analyzing and structuring investments in emerging sectors. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd.
GrowthWorks Capital Ltd.

(i)GrowthWorks refers to affiliates of GrowthWorks Ltd. and includes GrowthWorks Capital Ltd., manager of the Working Opportunity Fund (EVCC) Ltd., GrowthWorks WV Management Ltd., manager of GrowthWorks Canadian Fund Ltd. and GrowthWorks Commercialization Fund Ltd., and GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund Ltd.

Commissions, trailing commissions, management fees and expenses all may be associated with investments in retail venture capital funds (RVCs). Please read the Fund's prospectus before investing. RVCs are not guaranteed, their values change frequently and past performance may not be repeated.

(ii)It is planned that after March 1, 2007 the Fund would resume an eight-year hold. The five-year hold for this limited time applies to the Fund's Venture Series only. It is expected that the Fund's 07 Commercialization Series will be available for sale with an eight-year hold upon receipt of a renewal prospectus.

(iii)Tax credits are subject to certain conditions and annual maximums. Please see prospectus for details.


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