Frontenac Mortgage Investment Corporation announces changes in its board of directors

    SHARBOT LAKE, ON, March 22 /CNW Telbec/ - Frontenac Mortgage Investment
Corporation announces the resignation of Michael Robinson, a director since
December 10, 2005 at the Board Meeting of March 20, 2007. At the same meeting
two new directors, Eric Dinelle and Kevin Corcoran were appointed to fill the
two vacancies on the Board.
    The resignation of Michael Robinson, the Vice-President of Robinsons
Properties Inc., a developer of commercial and industrial properties based in
Kingston, Ontario, was regretfully accepted by the Board of Directors at the
Board Meeting of March 20, 2007.
    At the same meeting two new directors were nominated and appointed to
fill two vacancies on the Board until the next Annual General Meeting on June
9, 2007 when they will stand for election. The two new directors are Eric
Dinelle and Kevin Corcoran.
    Eric Dinelle is currently the Senior Project Manager for the Kingston
General Hospital. Eric graduated from Ottawa University with his Bachelor of
Arts in Geography and Urban Planning in 1996. He grew up in the Sharbot Lake
area and so brings a detailed knowledge of rural Eastern Ontario to the Board.
    Kevin Corcoran is the owner/broker of The Mortgage Professionals of
Kingston Ontario. He received his Bachelor of Arts in Economics in 1976 from
Brandon University, is a member of the Canadian Institute of Mortgage Brokers
and Lenders and is a licensed mortgage broker. Kevin's professional background
and long time residency in Eastern Ontario brings a wealth of knowledge in the
areas of the Corporation's investment strategy.

    Frontenac Mortgage Investment Corporation is a mortgage investment
corporation which distributes its common shares on an over-the-counter basis
to qualified investors.
    %SEDAR: 00021560E

For further information:

For further information: Wayne A. Robinson, CEO, Frontenac Mortgage
Investment Corporation, 1-877-279-2116

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