Firstfund reports 2008 results



    Trading Symbol: FFP

    VANCOUVER, April 30 /CNW/ - The Company wishes to announce its 2008
results from operations based upon its audited consolidated financial
statements for the year ended December 31, 2008.
    The financial results of the Company for the year ended December 31, 2008
show a loss of $499,566 or $0.08 per share (2007 - income of $433,997 or $0.07
per share) on revenues of $305,319 (2007 - $718,901). During the year ended
December 31, 2008, the Company realized gains on the sale of
available-for-sale investments of $Nil (2007 - $470,110). The Company disposed
of investments in Common shares and Preference shares of Vitality Products
Inc. in 2007.
    The financial results of the Company for its fourth quarter of 2008 show
a loss of $296,443 or $0.05 per share (2007 - income of $22,453 or $0.00 per
share) on revenues of $80,718 (2007 - $357,725). During the fourth quarter of
2008 the Company recorded a loss of $263,868 (2007 - $Nil) to recognize an
other than temporary impairment to the carrying value of its investment in
Common shares of Vitality Products Inc. The Company's fee income was $78,522
for the three months ended December 31, 2008 (2007 - $347,865). No additional
fee income, above and beyond the Company's monthly administration fees, was
received in the fourth quarter of 2008. During the fourth quarter of 2007, the
Company received US$276,489 from Gold Star Resorts Inc. for the successful
completion of the Sandcastle Resort project.
    The Company's audited consolidated financial statements and management's
discussion and analysis for the year ended December 31, 2008 are available on
SEDAR at www.sedar.com.

    
    On behalf of the Board of
    CONSOLIDATED FIRSTFUND CAPITAL CORP.

    William N. Grant (signed)

    ---------------------------------
    William N. Grant, President & CEO


    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    

    %SEDAR: 00002533E




For further information:

For further information: Douglas Grant, Vice President & CFO at (604)
683-6611 or info@firstfund.ca


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