FMF Capital Group Ltd. Defers Interest Payments for March

    TORONTO, April 13 /CNW/ - FMF Capital Group Ltd., (TSX:FMF.UN), today
announced that it is deferring interest payments on its subordinated notes for
the month of March. Based on financial results for the month of March, the
Board of Directors of the Company has determined that the Company's interest
coverage ratio remains below the applicable threshold and therefore, has
decided to exercise the Company's contractual right to defer the payment of
interest on its subordinated notes, including the subordinated note component
of its income participating securities (IPSs), for the month of March, which
would otherwise be payable on April 16, 2007. The Board of Directors expects
to defer interest for the month of April and will make this determination in
May 2007 after reviewing the Company's financial results including April. In
addition, no dividends will be paid on the common shares for the month March.

    FMF Capital Group was a residential mortgage lending company that
originates and funds primarily nonconforming or "nonprime" mortgage loans in
the United States and sells those mortgage loans to institutional loan
purchasers. FMF Capital Group originated its mortgage loans through a network
of more than 4,400 independent mortgage brokers, in 39 of the 50 United States
and in the District of Columbia.

    When used in this news release, the words "plan", "expect", "believe",
"anticipate", "foresee", "should", "intend", "will", "may", "suspect",
"estimate", "outlook", "continue", "project" and similar expressions are
intended to identify forward-looking statements. These statements are based on
certain factors and assumptions including, but not limited to, the ability of
FMF Capital Group Ltd. to fund and sell mortgage loans, changes in interest
rates, competitive activities, general economic conditions, licensing and
regulatory requirements, foreign exchange rates and other assumptions, which
we believe are reasonably based on currently available information.
Forward-looking statements are not guarantees of future performance and
involve risks, uncertainties and assumptions, which could cause actual results
to differ materially from those anticipated in these forward-looking
statements. Furthermore, the forward-looking statements contained in this
document are made as of the date of this news release. Unless otherwise
required by applicable law, FMF Capital Group Ltd. does not undertake any
obligation to update or to revise any of the included forward-looking
statements, whether as a result of new information, future events or
otherwise. This news release should be read in conjunction with FMF Capital
Group Ltd.'s financial statements, notes to the financial statements and
management's discussion and analysis which are available at
    %SEDAR: 00021796E

For further information:

For further information: Investor Relations, (248) 799-4000,

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