Genterra completes acquisition of Ninety Ontario Street Inc.

    TORONTO, June 27 /CNW/ - Genterra Inc. ("Genterra" or the "Company")
(TSX-V: "GIC") announced today that the TSX Venture Exchange has given its
final approval to the Company's acquisition (the "Acquisition") of all of the
outstanding shares of Ninety Ontario Street Inc. from First Ontario
Investments Inc., a related party in respect of Genterra, and that the
Acquisition has now been completed. The Acquisition was approved by the
Company's Minority Shareholders at the annual and special meeting of
shareholders on March 4, 2008.
    Genterra Inc. is a management and holding company whose assets include
rental real estate properties and investments.

    "Safe Harbor" statement under the Private Securities Reform Act of 1995:

    This release may contain forward-looking statements which reflect
management's current views of future events and operation. These
forward-looking statements are based on assumption and external factors,
including assumptions relating to product pricing, competitive market
conditions, financial data and other risks or uncertainties detailed from time
to time in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements represent the Company's judgement as of the
date of this release and any changes in the assumptions or external factors
could produce significantly different results.

    Disclaimer: TSX Venture Exchange does not accept responsibility for the
    adequacy or accuracy of this release.

For further information:

For further information: Stan Abramowitz, Secretary, (416) 920-0500

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