Crossfire Ranked in TSX Venture Top 50

    Oil services consolidator earns No. 3 spot in the Diversified Industries

    CALGARY, and TORONTO, June 21 /CNW/ - Crossfire Holdings Inc.
("Crossfire" or the "Company") is pleased to announce that it has been
selected from more than 2,000 eligible companies for recognition as one of the
top 50 companies listed on the TSX Venture Exchange.
    Crossfire's 300% return on investment and 4,587% growth in market
capitalization in 2006 earned the Company the number three spot amongst the
TSX Venture Exchange's ranking of the top ten companies in the Diversified
Industries category.
    The accreditation was awarded to Crossfire based on an independent
evaluation of the Company's revenue, return on investment, trading volume and
market capitalization growth during the twelve-month period ending December
31, 2006.
    "This recognition is an acknowledgement of the successful execution of
our strategy to consolidate leading companies in the Canadian oil services
sector," noted Dean Bethune, Crossfire's President and CEO. "The fact that
Crossfire earned this recognition after initiating its business strategy in
less than 12 months, is a testament to the energy and dedication of the team
of people who have helped to build this enterprise."

    About Crossfire

    Crossfire is a full-service provider of design, fabrication and
installation of oilfield facilities and carries on business under the name
Crossfire Energy Services. The company's success is built upon a commitment to
build long-term relationships with clients, employees and investors. Crossfire
is a publicly traded company on the TSX - Venture Exchange, symbol CFE.

    About the TSX Venture 50

    The TSX Venture 50 are the top ten companies in each of five major
industry sectors - mining, oil & gas, technology, life sciences and
diversified industries - based on a ranking formula with equal weighting given
to one-year revenue (last reported 12 months), return on investment, market
cap growth and trading volume. All data was as of December 31, 2006.

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

    %SEDAR: 00016387E

For further information:

For further information: John Sadler or Ali Mahdavi, Genoa Management
Limited, 10 King Street East, Suite 1250, Toronto, ON M5C 1C3, (416) 962-3300;
Dean Bethune, President & CEO, Crossfire Holdings Inc., Suite 1700, 800 - 6th
Avenue SW, Calgary, AB T2P 3G3,,, (403) 237-5115; A. Scott Hamilton, Chief Financial
Officer, Crossfire Holdings Inc., Suite 1700, 800 - 6th Avenue SW, Calgary, AB
T2P 3G3,

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