Re: ARC Energy Fund 5's Holdings in Ember Resources Inc.

CALGARY, Dec. 22 /CNW/ - ARC Equity Management (Fund 5) Ltd. (as the general partner of ARC Energy Fund 5 Canadian Limited Partnership, ARC Energy Fund 5 United States Limited Partnership and ARC Energy Fund 5 International Limited Partnership, collectively "ARC Energy Fund 5") of Calgary, Alberta announced that as a result of a private purchase, ARC Energy Fund 5 acquired 2,000,000 common shares of Ember Resources Inc. ("Ember") at a price of $0.86 per common share, representing 2.67% of the current outstanding Ember common shares. As a result, ARC Energy Fund 5 now exercises control or direction over an aggregate of 12,282,688 common shares of Ember, representing approximately 16.4% of the outstanding common shares, or approximately 22.7% or 16,979,372 common shares of Ember including the holdings of ARC Equity Management (Fund 3) Ltd., ARC Energy Venture Fund 3 and ARC Energy Venture Fund 4.

ARC Energy Fund 5 is an investment fund specializing in the energy sector. Its general partner is ARC Equity Management (Fund 5) Ltd., part of the ARC Financial Group of companies. Although ARC Energy Fund 5 may make further purchases (or sales) of common shares of Ember on the Toronto Stock Exchange or through private purchases (or sales), such purchases will be made for investment purposes.

This press release has been issued in order to comply with applicable securities legislation.

SOURCE ARC EQUITY MANAGEMENT (FUND 5) LTD.

For further information: For further information: or a copy of the securities report contact: Lauchlan Currie, President, ARC Equity Management (Fund 5) Ltd., 4300, 400 - 3rd Avenue S.W., Calgary, Alberta, Telephone: (403) 292-0680, Fax: (403) 292-0579

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ARC EQUITY MANAGEMENT (FUND 5) LTD.

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