Lions Capital Acquires Pender NDI Life Sciences Fund



    VANCOUVER, Oct. 3 /CNW/ - Lions Capital Corp. announced today that it has
agreed to acquire the fund management agreement for Pender NDI Life Sciences
Fund (Pender NDI) from NDI Investment Management Inc. (NDII) and Pender Fund
Capital Management Ltd., a wholly owned subsidiary of Pender Financial Group
Corp. (TSX-V: PDF). Lions Capital is the fund manager of BC Advantage Funds
(Advantage) and Lions Liquidity Investment Fund I Limited Partnership.
Dr. Jim Miller, President of NDII, has agreed to become a Lions Capital Mentor
and will continue his involvement in certain Pender NDI portfolio companies.
    "We are well acquainted with both the portfolio companies of Pender NDI
and its principals" stated Frank Holler, CEO and Partner of Lions Capital. "We
believe that the Lions' Mentor Model, particularly with the addition of
Dr. Jim Miller, will be effective in building the value of the current and
future Pender NDI portfolio companies. We also expect to be able to save
significant overhead costs by merging the fund management operations of Pender
NDI and Advantage. Such savings should allow us to decrease the overhead
expenses of both funds and improve the returns to their respective
shareholders."
    Pender NDI has aggregate net assets of $13 million and an annual equity
allocation of $7 million under the Small Business Venture Capital Act (British
Columbia). Advantage has aggregate net assets of $57 million and an annual
equity allocation of $10 million under the SBVCA. When completed, this
acquisition will result in Lions Capital managing VCC funds with aggregate net
assets of over $70 million and an annual equity allocation of $17 million.
    Lions Capital, Pender Fund Capital Management, Pender Financial Group and
NDII have entered into a binding agreement with respect to Lions Capital's
acquisition of the management agreement. Upon closing, the directors and
officers of Pender NDI will step down and be replaced by nominees of Lions and
the fund will begin doing business as the Advantage Life Science Fund II.

    About Lions Capital

    As fund manager of BC Advantage Funds and Lions Liquidity Investment
Fund I LP, Lions Capital currently manages more than $57 million of venture
capital. Lions Capital also provides financing, merger and acquisition, and
financial advisory services to life science and technology companies. In 2006,
Lions Capital received the Canadian Venture Capital & Private Equity
Association's "Deal of the Year" award for achieving the highest realized
return on an investment of any venture capital firm in Canada.





For further information:

For further information: Lions Capital Corp., Phone: (604) 688-6877,
Email: info@lionscapital.com

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LIONS CAPITAL CORP.

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