Clarke Inc. announces increased investment in Clearwater Seafoods Income Fund



    TSX: CKI; CKI.DB; CKI.DB.A

    HALIFAX, Oct. 11 /CNW/ - Clarke Inc. ("Clarke") announces that it has
acquired 588,900 units of Clearwater Seafoods Income Fund ("Clearwater")
bringing its total holdings in Clearwater to 5,505,375 units representing
approximately 19.02% of the total outstanding units and approximately 10.52%
of the voting rights attached to all issued and outstanding securities of
Clearwater.
    Clarke also owns $2,025,000 principal amount of Clearwater Series A
Debentures which are immediately convertible into Clearwater units. In the
aggregate, the Debentures held by Clarke are convertible into 343,220 units of
Clearwater which combined with the 5,505,375 Clearwater units held by Clarke,
total 5,848,595 units, representing approximately 19.97% of the total
outstanding units and approximately 11.10% of the voting rights attached to
all issued and outstanding securities of Clearwater.
    The Clearwater units held by Clarke and George Armoyan, the President and
Chief Executive Officer of Clarke, and members of his immediate family with
whom he resides, together with the units issuable upon conversion of the
convertible debentures also held by Clarke, total 5,858,595 units,
representing approximately 19.99% of the total outstanding units and
approximately 11.12% of the voting rights attached to all issued and
outstanding securities of Clearwater.
    The purchase of the Clearwater units by Clarke was made through the
facilities of the Toronto Stock Exchange for investment purposes. Clarke may,
from time to time, acquire additional units of Clearwater, dispose of some or
all of the existing or additional units of Clearwater, or continue to hold the
units of Clearwater in the normal course of Clarke's investment activities.

    About Clarke

    Clarke is a Halifax-based activist and catalyst investment company with a
diversified portfolio of strategic and opportunistic investments, including
several wholly-owned subsidiaries operating in the transportation services
industry. From time to time, Clarke also participates in joint ventures when
they offer the opportunity to create shareholder value. Led by George Armoyan
and an entrepreneurial team of professionals focused on uncovering and
creating value, Clarke invests in undervalued businesses and participates
actively where necessary to enhance performance and increase returns. In 2006
alone, Clarke delivered a shareholder return on investment, including
dividends, of 33%. 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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