Algonquin Power Venture Fund Shareholders Approve Restructuring

    OAKVILLE, ON, Sept. 27 /CNW/ - Algonquin Power Venture Fund Inc. (the
"Fund") is pleased to announce that on September 27, 2007 the Class A
shareholders approved a restructuring of the Fund from its current status as a
labour sponsored venture capital corporation to that of an exchange listed
public corporation. The restructuring will be structured as a three cornered
amalgamation with Highground Capital Corp. ("Highground") and a wholly-owned
subsidiary of Highground, pursuant to which the Class A shareholders of the
Fund will become shareholders of Highground and the Fund will amalgamate with
Highground's wholly-owned subsidiary. Following completion of the
amalgamation, the wholly-owned amalgamated subsidiary will be dissolved such
that Highground will carry on the business previously carried on by the Fund.
    The TSX Venture Exchange has provided its conditional approval for the
listing of the common shares of Highground Capital Corp. subject to the
provision of the required documentation. It is anticipated that the trading in
the common shares of Highground Capital Corp. will commence on October 9, 2007
under the symbol HCC.
    Further information regarding the restructuring can be found in the
management information circular of the Fund which is available at

    About the Algonquin Power Venture Fund

    The Algonquin Power Venture Fund invests in small and mid sized Canadian
businesses engaged in electrical power generation, distribution and
infrastructure sectors providing individual investors in Ontario a unique
opportunity to participate in the growth of independent electrical power

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Jeff Norman, President, (905) 465-4547 or Greg
Owttrim, Executive Vice President, (905) 465-4535

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