Hesperian Capital Management Ltd. Announces Significant Investment in Black Diamond Income Fund

    CALGARY, Feb. 26 /CNW/ - Hesperian Capital Management Ltd., which manages
a strategically focused group of public and private investment funds,
announced today that it has acquired an additional 160,000 shares of Black
Diamond Income Fund (the "Corporation").
    Shares of the Corporation were purchased by the Norrep G Class of Norrep
Opportunities Corp and the Norrep US Class of Norrep Opportunities Corp. As a
result of this investment, Hesperian controls 1,782,400 common shares, which
represent approximately a 24.48% undiluted interest and a 17.84% fully diluted
interest in the Corporation.
    The Black Diamond Income Fund shares are held by Hesperian for investment
purposes, and will be reviewed by Hesperian's management on a regular basis.
Management may increase or decrease its share ownership of this investment in
the future. A copy of the report filed by Hesperian in connection with the
acquisition, as required under applicable securities legislation, may be
obtained by contacting the office of Hesperian at 1-877-531-9355.
    Hesperian Capital Management Ltd. is a Calgary-based investment manager
that manages the Norrep Group of Funds. Hesperian has approximately
$800 million in combined assets.
    Visit www.hesperiancapital.com for more details about Hesperian and the
Norrep Group of Funds.

    Certain information set forth in this press release, including a
discussion of future plans and operations, contains forward-looking statements
that involve substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and uncertainties,
some of which are beyond management's control, including but not limited to,
the impact of general economic conditions, industry conditions, fluctuation of
commodity prices, fluctuation of foreign exchange rates, environmental risks,
industry competition, availability of qualified personnel and management,
stock market volatility, timely and cost effective access to sufficient
capital from internal and external sources. Actual results, performance or
achievement could differ from those expressed in or implied by these
forward-looking statements.

    %SEDAR: 00017183E

For further information:

For further information: Keith Leslie, CFA, Vice-President, Hesperian
Capital Management Ltd., (403) 531-2650, keith@hesperiancapital.com

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