CORPFINANCE INTERNATIONAL INVESTS 168 MILLION IN NEW PROJECT

CFI chose to reduce material use by retaining the existing and original floors and ceilings throughout our building.

February 26, 2003

Enables Clients to Achieve Business Objectives

Toronto, Ontario—February 26, 2003 Corpfinance International Limited, a specialist in medium and long-term financing for Canadian private and public corporations, announced today that since December 2002, the company has committed or closed $168 million in new investments for projects across Canada, including the first deal for CFI Capital.

“In the midst of this challenging financing market where sources of capital have become more complex, diversified and harder to locate, CFI has been able to provide funding and be flexible enough to structure suitable financing solutions for our clients,” said Kevin Andrews, President and CEO of Corpfinance International. “Mid-market companies and those building infrastructure projects have unique requirements when looking for financing. However, traditional financial institutions do not offer the necessary flexibility in their off-the-shelf financing packages and limited terms.”

The investments break down as follows:

$79.8 million financing nursing home developments (Toronto’s Yee Hong Centre for Geriatric Care, Dundas, Ontario’s St. Joseph’s Villa and Hamilton’s LIUNA Long Term Care Facility.)
$38.9 million on new infrastructure projects (Eaton Power Corp.’s Furry Creek hydroelectric generating facility, District School Board of Ontario North East’s Kirkland Lake school and Maxim Power’s new landfill gas co-generation facility in Vancouver.)
$28 million corporate loan (Coopérative fédérée de Québec.)
$20 million on lease securitization (Halton Honda.)

CFI Capital, launched in November 2002, completed its first deal by providing a subordinated debt loan for an additional $900,000 to Maxim Power for its new landfill gas co-generation facility in Vancouver. “Corpfinance leverages its underwriting expertise to develop specialized term-financing products as well as offers capital solutions through its wholly owned subsidiary CFI Capital,” stated Andrews.

One of Corpfinance’s growth areas is funding infrastructure projects such as nursing homes, roads, schools, and hydroelectric generating, co-generation and alternative energy facilities. “There is a shift towards public-private partnerships on infrastructure developments at all levels of government. CFI’s structured financing division has the knowledge and experience to deal with this growing need,” noted Andrews. “Our team can provide equity and varying categories of customized financing for infrastructure projects.”

About Corpfinance International Limited

Corpfinance International Limited specializes in providing customized medium and long-term financing and capital solutions for private and public corporations. The company is based in Toronto, Ontario with offices in Quebec and British Columbia and is owned by management and Canada Life.

CFI offers capital solutions through its wholly owned subsidiary CFI Capital and securitization financing through CFI Trust which is AA rated by DBRS, and which has generated over $2 billion in originations. With transactions ranging from $10 million to $100 million, CFI can offer fixed interest terms and amortizations up to thirty years.