First distribution by Pebercan to its shareholders


MONTREAL, March 5 /CNW Telbec/ - Pebercan Inc. (the "Corporation") ("PBC.H" on NEX) announces that the first distribution to its shareholders of $76,459,152, or approximately $1.01 per outstanding common share, will be made as of today. The Corporation also reiterates that all of its common shares will be subsequently cancelled and will no longer be listed on NEX at the opening of business on March 8, 2010. As of that date, Samson Bélair/Deloitte & Touche Inc. will take over all of the powers and duties of the directors and shareholders of the Corporation in accordance with the order issued by the Court.

As previously disclosed, the first distribution will be paid through a reduction of the stated capital of the common shares. Shareholders who are resident of Canada will receive an amount of approximately $1.01 in Canadian dollar per outstanding common share, while the other shareholders of the Corporation will receive the equivalent of such amount in Euros. The equivalent in Euros of the amount of $1.01 per outstanding common shares is 0.72 (euro), an amount determined on the basis of the exchange rate between the Canadian dollar and the Euro as of the close of business on March 4, 2010.

The first distribution is paid to shareholders of record at the close of business on March 2, 2010, the record date set by the Corporation for the first distribution.

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For further information: For further information: PEBERCAN Inc.: Christophe Ranger,, (514) 286-5200, Fax: (514) 286-5177

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