Tri-White Corporation announces renewal of normal course issuer bid



    Stock Symbol: (TSX: TWH)

    TORONTO, Sept. 18 /CNW/ - Tri-White Corporation ("Tri-White") today
announced that the Toronto Stock Exchange (the "TSX") has accepted a notice
filed by Tri-White of its intention to make a normal course issuer bid through
the facilities of the TSX.
    The notice provides that Tri-White may, during the twelve-month period
commencing September 20th, 2008 and ending September 19th, 2009 purchase up to
1,146,304 common shares ("Common Shares") in total, being approximately 5% of
the issued and outstanding Common Shares. The price that Tri-White will pay
for any such Common Shares will be the market price at the time of
acquisition. Management of Tri-White will determine the actual number of
Common Shares that may be purchased and the timing of any such purchases.
    Tri-White did not purchased Common Shares for cancellation during the
last twelve months. As of September 12, 2008 there were 22,926,080 Common
Shares outstanding.
    Tri-White believes that its Common Shares have been trading in price
ranges which do not adequately reflect their value in relation to the business
of Tri-White and its future business prospects. As a result, depending upon
future price movements and other factors, Tri-White believes that its
outstanding Common Shares may represent an attractive investment. Furthermore,
the purchases are expected to benefit all persons who continue to hold Common
Shares by increasing their proportionate interest in Tri-White. All Common
Shares purchased by Tri-White under the normal course issuer bid will be
cancelled.

    Tri-White Corporation holds a diverse leisure industry portfolio of
assets focusing on tourism and golf with additional interests in merchant
banking activities. Tri-White is the largest shareholder, with a 70% interest,
in ClubLink Corporation, Canada's leading owner and operator of high quality
member golf clubs, daily fee golf clubs and golf resorts with 37 properties.
Tri-White additionally owns a 100% interest in the historic White Pass & Yukon
Route Railway, including strategic holdings in the port operations and
supporting excursions, based in Skagway, Alaska.




For further information:

For further information: Robert D. Wright, Chief Financial Officer, Tel:
(905) 281-5897; Fax: (905) 281-5890; e-mail: bwright@morguard.com; Beverley G.
Flynn, Secretary, Tel: (905) 281-5923; Fax: (905) 281-5890  e-mail:
bflynn@morguard.com

Organization Profile

TRI-WHITE CORPORATION

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