FIER Ville-Marie, L.P. Announces the Exercise of 1,428,571 Warrants of Ranaz

    MONTREAL, Feb. 28 /CNW Telbec/ - This press release is issued by Ranaz
Corporation ("Ranaz") (TSX-V: RNZ) and FIER Ville-Marie, L.P. ("FIER") as
required by Regulation 62-103 Respecting the Early Warning System and Related
Take-Over Bid and Insider Reporting Issues ("Regulation 62-103"). FIER owns
2,380,952 common shares of Ranaz, representing approximately 6.59% of the
outstanding common shares of Ranaz. Its address is 2000 Mansfield, Suite 700,
Montréal, Québec.
    FIER announces that it acquired direct ownership of 1,428,571 treasury
common shares of Ranaz through the exercise, on February 28, 2008, of
1,428,571 warrants of Ranaz that it held, representing approximately 3.96% of
Ranaz's common shares outstanding as at February 25, 2008. Each warrant had an
exercise price of $0.35 per common share. FIER has only one joint actor,
VMCap Inc., its general partner, which does not own or control any securities
of Ranaz.
    On April 26, 2006, approximately eight months before Ranaz's initial
public offering, Ranaz obtained a financing of $1,000,000 from FIER. In
connection with this financing, Ranaz issued warrants to FIER. Those warrants
were to expire on April 26, 2008. FIER decided to exercise them before their
expiry date.
    As a result of this transaction, FIER owns an aggregate of 3,809,523
common shares of Ranaz, representing approximately 10.15% of Ranaz's common
shares outstanding as at February 25, 2008.
    A copy of the report under Regulation 62-103 to be filed within two
business days may be obtained by contacting Mr. Martin Vidal, Executive
Vice-President and Chief Financial Officer at (450) 491-7106 ext. 213.

    About Ranaz Corporation

    Ranaz is a corporation specializing in the manufacture and marketing of
protein and dietary supplements. Its mission is to design, develop and market
nutritional, protein and dietary supplements under its own corporate brands,
such as Protidiet and ProtiLife, as well as under private labels.

    Certain statements contained in this news release, other than statements
of fact that are independently verifiable at the date hereof, may constitute
forward-looking statements. Such statements, based as they are on the current
expectations of management, inherently involve numerous risks and
uncertainties, known and unknown, many of which are beyond Ranaz's control.
Such risks include but are not limited to: the impact of general economic
conditions, changes in the regulatory environment in the jurisdictions in
which Ranaz does business, stock markets volatility, fluctuations in costs,
and changes to the competitive environment due to consolidation, as well as
other risks disclosed in public filings of Ranaz. Consequently, actual future
results may differ materially from the anticipated results expressed in the
forward-looking statements. The reader should not place undue reliance, if
any, on the forward-looking statements included in this news release. These
statements speak only as of the date made and Ranaz is under no obligation and
disavows any intention to update or revise such statements as a result of any
event, circumstances or otherwise.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    %SEDAR: 00024418EF

For further information:

For further information: Ranaz Corporation: Martin Vidal, Executive Vice
President and Chief Financial Officer, (450) 491-7106, ext. 213,; SOLAK Communications: François Kalos, President,
(450) 993-0828,

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Ranaz Corporation

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