Kingsmill Capital Ventures Inc. announces update and amended terms of its Qualifying Transaction

    BURLINGTON, ON, March 31 /CNW/ - Further to its news release of
December 20, 2007, Kingsmill Capital Ventures Inc. ("Kingsmill")
(KCV.P-TSX VENTURE) wishes to announce the following update in respect of its
Qualifying Transaction (the "QT"):1.  The consideration to be paid to Universal Settlements Inc. ("USI")
        for a portfolio of life settlements has been adjusted. Pursuant to an
        amending agreement dated March 31, 2008, Kingsmill has agreed to
        acquire from USI a portfolio of 557 life insurance policies (the
        "Portfolio") with a total face value of USD $42,011,584 for a revised
        purchase price of C$7,696,077 which will be paid by the delivery of
        25,653,590 shares of Kingsmill at an agreed issue price of C$0.30 per
        share; and

    2.  The termination date of the transaction has been amended to
        June 30, 2008 or such other date as mutually agreed upon.The purchase price was adjusted after extensive due diligence was carried
out by Kingsmill on the Portfolio. The documents for the transaction,
including a preliminary prospectus, are being amended to reflect the revised
terms as well as provide additional disclosure. Completion of the QT remains
on track and it is expected that a formal filing will be made in the very near
future.

    The TSX Venture Exchange Inc. has in no way passed upon the merits of the
    proposed transaction and has neither approved nor disapproved the
    contents of this press release.

For further information: David Mitchell, President, [phone]