Century II Holdings Inc. - Dissemination and filing of Directors' Circular recommending rejection of Jaguar takeover bid

    TSX Symbol: CH

    TORONTO, Aug. 14 /CNW/ - Century II Holdings Inc. (the "Company")
confirmed that on today's date it mailed to its Shareholders and filed on the
system for electronic document analysis and retrieval ("SEDAR"), a Directors'
Circular (the "Circular") recommending the rejection of the offer (the "Jaguar
Offer") by Jaguar Financial Inc. ("Jaguar") to purchase, for cash, all of the
outstanding shares of the Company. The Circular indicates, in part, that the
Board of Directors (the "Board") of the Company have voted unanimously to
recommend that the Company's Shareholders reject the Jaguar Offer and not
tender their shares to it. The Board believes that the Jaguar Offer fails to
reflect the full value for the Company and is an attempt by Jaguar to acquire
the Company without offering adequate consideration to the Company's
Shareholders. Complete reasons for the recommendation of the Board to reject
the Jaguar Offer are set forth in the Circular, which is available on SEDAR.
The Company's Shareholders are urged to read the Circular in its entirety.


    This news release contains "forward-looking statements". All statements
that address activities, events or developments that the Company expects or
anticipates will or may occur in the future are forward-looking statements.
Often, but not always, forward-looking statements can be identified by the use
of words such as "plans", "expects", "estimate", "intend", "believe" or
similar expressions or statements that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be achieved.
    Forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause actual results, performance or achievements
to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements.

    The Toronto Stock Exchange does not accept responsibility for the
    adequacy or accuracy of this news release.

    About Century II Holdings Inc. (TSX Symbol: CH)

    Century II Holdings Inc. is a publicly traded holding company whose
wholly owned subsidiary, ICS Courier, operates a structured route courier
business, servicing in excess of 35,000 accounts in the insurance, optical,
financial, travel, dental and hearing appliance business sectors across

    %SEDAR: 00002281E

For further information:

For further information: Michael J. O'Neill, Chief Financial Officer,
(416) 207-5307, mjoneill@ics-canada.net

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