Coventree Inc. - Press Release

    Toronto Stock Exchange Symbol: COF

    TORONTO, April 16 /CNW/ - In connection with the winding down of the
operations of Coventree Inc., the independent directors of Coventree have
reviewed the entitlement of Dean Tai, the former Chief Executive Officer of
Coventree, and Geoff Cornish, Coventree's current Chief Executive Officer, to
the 736,522 common shares of Coventree issued to each of them under
Coventree's 2005 Share Allocation Plan. As a result of their review, the
independent directors have determined that the shares were not validly issued
and have decided to cancel the common shares. Following the cancellation of
these shares, 15,157,138 common shares of Coventree will be issued and

    %SEDAR: 00024386E

For further information:

For further information: Craig Armitage, The Equicom Group Inc., (416)
815-0700, Ext. 278,

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