Equitable Group Inc. files final prospectus in connection with $25 million bought deal


    TSX Symbol: ETC

    TORONTO, April 23 /CNW/ - Equitable Group Inc. today announced that it
has filed a final short form prospectus in connection with its previously
announced bought deal offering of 769,231 common shares of Equitable at a
price of $32.50 per share for aggregate gross proceeds of approximately
$25 million. The net proceeds of the offering will be used to invest in the
equity of the Company's wholly-owned subsidiary, The Equitable Trust Company
and for general corporate purposes.
    The final prospectus was filed in all provinces of Canada other than
Quebec for the purposes of qualifying the common shares for distribution to
the public. The offering is scheduled to close on or about April 30, 2007,
subject to obtaining all regulatory consents.
    Equitable announced on April 11, 2007 that it had entered into an
agreement with a syndicate of underwriters co-led by Cormark Securities Inc.
and BMO Capital Markets and including Blackmont Capital Inc. and GMP
Securities LP in respect of this bought deal transaction.

    About Equitable Group
    Equitable Group Inc. provides first mortgage financing through its
wholly-owned subsidiary, The Equitable Trust Company. It also offers
Guaranteed Investment Certificates to depositors as a nationally-licensed
deposit-taking institution. Equitable Trust was founded in 1970, and by
following a prudent, results-driven approach, Equitable has become a leader in
its primary niches: alternative single family dwelling as well as multi-unit
residential mortgage lending. The common shares of Equitable Group Inc. are
listed on the Toronto Stock Exchange under the trading symbol of "ETC". For
more information visit www.equitablegroupinc.com.

    Notice to Readers

    The securities being offered have not been, nor will they be, registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold in the United States or to, or for the account or benefit of,
U.S. persons absent registration or an applicable exemption from registration
requirements. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities
in any state in which such offer, solicitation or sale would be unlawful.

    Certain forward-looking statements are made in this news release,
including statements regarding possible future business, financing and growth
objectives. Investors are cautioned that such forward-looking statements
involve risks and uncertainties detailed from time to time in the Company's
periodic reports filed with Canadian regulatory authorities. Many factors
could cause actual results, performance or achievements to be materially
different from any future results, performance or achievements that may be
expressed or implied by such forward-looking statements. Equitable Group Inc.
does not undertake to update any forward-looking statements, oral or written,
made by itself or on its behalf.

    %SEDAR: 00020356E

For further information:

For further information: Andrew Moor, (416) 999-8549; Stephen Coffey,
(416) 515-7000

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