Equitable Group Inc. files preliminary prospectus in connection with $25 million bought deal



    /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
    INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
    DISSEMINATION IN THE UNITED STATES/

    TSX Symbol: ETC

    TORONTO, April 16 /CNW/ - Equitable Group Inc. today announced that it
has filed a preliminary short form prospectus in connection with its
previously announced bought deal offering of 769,231 common shares of
Equitable at a price of $32.50 per share for aggregate gross proceeds of
approximately $25 million. The net proceeds of the offering will be used to
invest in the equity of the Company's wholly-owned subsidiary, The Equitable
Trust Company.
    The prospectus was filed in all provinces of Canada other than Quebec for
the purposes of qualifying the common shares for distribution to the public.
The offering is scheduled to close on or about April 30, 2007 and is subject
to certain conditions including, but not limited to, the receipt of all
necessary approvals, including the approval of the Toronto Stock Exchange and
the securities regulatory authorities.
    Equitable announced on April 11, 2007 that it had entered into an
agreement with a syndicate of underwriters co-led by Cormark Securities Inc.
and BMO Nesbitt Burns Inc. and including Blackmont Capital Inc. and GMP
Securities LP in respect of this bought deal transaction.

    About Equitable Group

    Equitable Group Inc. provides first mortgage financing through its
wholly-owned subsidiary, The Equitable Trust Company. It also offers
Guaranteed Investment Certificates to depositors as a nationally-licensed
deposit-taking institution. Equitable Trust was founded in 1970, and by
following a prudent, results-driven approach, Equitable has become a leader in
its primary niches: alternative single family dwelling as well as multi-unit
residential mortgage lending. The common shares of Equitable Group Inc. are
listed on the Toronto Stock Exchange under the trading symbol of "ETC". For
more information visit www.equitablegroupinc.com.

    Notice to Readers

    The securities being offered have not been, nor will they be, registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold in the United States or to, or for the account or benefit of,
U.S. persons absent registration or an applicable exemption from registration
requirements. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities
in any state in which such offer, solicitation or sale would be unlawful.

    Certain forward-looking statements are made in this news release,
including statements regarding possible future business, financing and growth
objectives. Investors are cautioned that such forward-looking statements
involve risks and uncertainties detailed from time to time in the Company's
periodic reports filed with Canadian regulatory authorities. Many factors
could cause actual results, performance or achievements to be materially
different from any future results, performance or achievements that may be
expressed or implied by such forward-looking statements. Equitable Group Inc.
does not undertake to update any forward-looking statements, oral or written,
made by itself or on its behalf.
    %SEDAR: 00020356E




For further information:

For further information: Andrew Moor, (416) 515-7000; Stephen Coffey,
(416) 515-7000


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