Pacific Orient Capital Inc. Terminates Proposed Qualifying Transaction

TORONTO, Feb. 18 /CNW/ - Pacific Orient Capital Inc. (the "Company") (TSXV: AAQ.P), a capital pool company under Policy 2.4 of the TSX Venture Exchange (the "Exchange"), announced today that the proposed Qualifying Transaction (as that term is defined by Policy 2.4 of the Exchange) with AlphaRx Canada Limited, previously announced on April 9, 2010, has been terminated as the parties were not able to satisfy the closing conditions of the proposed Qualifying Transaction. Trading in the shares of the Company will resume on the TSX Venture Exchange at the opening of market on Tuesday, February 22, 2011.

The Company will continue to pursue and evaluate other businesses and assets with a view to completing a Qualifying Transaction and will make further announcements with respect to these efforts as soon as practically possible. The Company cannot offer any assurances that a Qualifying Transaction will be completed.

About Pacific Orient Capital Inc.

Pacific Orient Capital Inc., a capital pool company within the meaning of the policies of the Exchange, was incorporated October 19, 2009 and was listed on the Exchange on March 25, 2010. Pacific Orient does not have any operations and has no assets other than cash. Pacific Orient's business is to identify and evaluate businesses and assets with a view to completing a qualifying transaction under the policies of the Exchange.

The TSX Venture Exchange has neither approved or disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Pacific Orient Capital Inc.

For further information:

Francis Mak
Chief Executive Officer
Pacific Orient Capital Inc.

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Pacific Orient Capital Inc.

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