Clarke announces renewal of normal course issuer bid



    HALIFAX, March 12 /CNW/ - Clarke Inc. (TSX: CKI) announced today that it
has filed a notice with the Toronto Stock Exchange and received its approval
to purchase, through the facilities of the Toronto Stock Exchange for
cancellation, a portion of its 6% convertible unsecured subordinated
debentures due 2013. Under the normal course issuer bid, Clarke intends to
repurchase up to $6,884,000 in aggregate principal amount of its 2013
convertible debentures, representing 10% of the public float of $68,842,500 in
aggregate principal amount of the 2013 convertible debentures issued and
outstanding as at March 7, 2008. As at March 7, 2008, there was $96,925,500 in
aggregate principal amount of the 2013 convertible debentures issued and
outstanding. Purchases may commence on March 17, 2008 and will terminate on
March 16, 2009.
    From September 7, 2007 to March 7, 2008, the average daily trading volume
of Clarke 2013 convertible debentures was $86,500 in aggregate principal
amount of its 2013 convertible debentures. Under the TSX Rules, Clarke may
purchase up to 25% of the average daily trading volume on any day, which is
$21,625 in aggregate principal amount of its 2013 convertible debentures,
subject to a weekly "block purchase" exemption. Any 2013 convertible
debentures purchased by Clarke pursuant to the Offer will be cancelled.
    The directors and senior management of Clarke are of the opinion that the
purchase of the convertible debentures from time to time at the prevailing
market price would be a worthwhile investment and in the best interests of the
company and its shareholders. As at March 7, 2008, Clarke had acquired
$4,276,500 in aggregate principal amount of its 2013 convertible debentures by
means of open market transactions pursuant to the normal course issuer bid
that expired on March 12, 2008, at a weighted average price of $1,302.60 per
$1,000 par value of convertible debenture.

    About Clarke

    Halifax-based Clarke Inc., led by an entrepreneurial team of investment
professionals, is an activist and catalyst investment company that creates
shareholder value by identifying businesses with the potential for improved
performance, and working actively to uncover the value.
    Clarke's securities trade on the Toronto Stock Exchange (CKI, CKI.DB,
CKI.DB.A); for more information about Clarke Inc., please visit our website at
www.clarkeinc.com.
    %SEDAR: 00009934E




For further information:

For further information: Melinda Lee, Vice President Investments, Clarke
Inc., (902) 442-3420, Fax: (902) 423-4001


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