Pebercan Announces an out of court settelment of a lawsuit initiated by two
shareholders

    
    TSX: PBC
    

MONTREAL, Sept. 28 /CNW Telbec/ - Pebercan Inc. ("Pebercan" or the "Company") (TSX : PBC) Pebercan announces today that its Board of Directors has approved an out of court settlement of a lawsuit initiated in February 2008 by two shareholders, one of which is a former Officer of the Company and the other one a former consultant of Pebercan.

The plaintiffs agree to withdraw their lawsuit against the Company, its subsidiary, its majority shareholder and the Company Directors and to waive any and all rights or claims against these same persons in consideration of the payment of an amount of approximately CA $800,000.

The Company and the plaintiffs will complete the required documentation and seek Court approval of the settlement in the next few days.

Pebercan's interim and annual consolidated financial statements and management discussion and analysis are available on the Company's Web site at www.pebercan.com, as well as on SEDAR at www.sedar.com.

SOURCE PEBERCAN INC.

For further information: For further information: Pebercan Inc.: Christophe Ranger, (514) 286-5200, Fax: (514) 286-5177, cranger@pebercan.com

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PEBERCAN INC.

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