Clarke Inc. announces increased investment in Oceanex Income Fund

    HALIFAX, Sept. 20 /CNW/ - Yesterday, Oceanex Income Fund ("Oceanex" or
"the Fund") announced that it has entered into a purchase agreement to sell
all of its assets to South Coast Partners Limited Partnership ("South Coast"),
a newly formed entity owned by a consortium of investors comprised of Captain
Sidney J. Hynes, OPTrust Private Markets Group and Terrma Capital Corp. Under
the terms of the purchase agreement, all of the assets of the Fund will be
acquired for proceeds equal to $19.00 per outstanding Oceanex unit on a fully
diluted basis. Such proceeds are expected to be paid to Oceanex unitholders by
way of redemption and/or other distribution in respect of the outstanding
Oceanex units. Following the announcement of the proposed takeover bid for
Oceanex, Clarke Inc. ("Clarke") acquired 30,300 units of Oceanex, bringing its
total holdings in Oceanex to 558,050 units, representing approximately 6.4% of
the total outstanding units of Oceanex.
    The purchase of the Oceanex units by Clarke was made through the
facilities of the Toronto Stock Exchange for investment purposes. Clarke may,
from time to time, acquire additional units of Oceanex, dispose of some or all
of the existing or additional units of Oceanex, or continue to hold the units
of Oceanex in the normal course of Clarke's investment activities.

    About Clarke

    Clarke Inc. is the Halifax-based parent company of a number of
wholly-owned operating companies and divisions, and is an activist catalyst
investor with a diversified portfolio of strategic and opportunistic
investments. Clarke's operating companies are in the transportation services
business. From time to time, Clarke also participates in joint ventures when
they offer the opportunity to create shareholder value. Led by George Armoyan
and an entrepreneurial team of professionals focused on uncovering and
creating value, Clarke invests in undervalued businesses and participates
actively where necessary to enhance performance and increase returns. In 2006
alone, Clarke delivered a shareholder return on investment, including
dividends, of 33%. Clarke's securities trade on the Toronto Stock Exchange
(CKI, CKI.DB, CKI.DB.A); for more information about Clarke, please visit our
website at
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For further information:

For further information: Robert Normandeau, Chief Operating Officer,
Clarke Inc., (902) 442-3413, Fax: (902) 423-4001

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