Hummingbird acquires additional shares in IPlayco Corporation Ltd.

    TORONTO, Feb. 28 /CNW/ - Hummingbird Management LLC ("Hummingbird")
announced today that The Tarsier Nanocap Value Fund, L.P. ("Tarsier"), a fund
advised by it, has acquired an additional 156,000 Shares, through a series of
two acquisitions on January 28 (66,000 Shares) and February 14, 2008 (90,000
Shares), in IPlayco Corporation Ltd. (the "Company"). Together with Shares
previously acquired, Tarsier now holds an aggregate of approximately 11.08% of
the issued and outstanding Shares, based on 9,686,687 Shares being
outstanding. The Shares were acquired through the TSX Venture Exchange. The
Company is a Langley, British Columbia based manufacturer of modular play
    Tarsier has acquired the Shares for investment purposes, and may acquire
further Shares, or dispose of its holdings of Shares, both as investment
conditions warrant. Hummingbird or Tarsier may seek to influence decisions of
management and the directors of the Company including, without limitation, by
seeking representation whether by membership or through observer status on the
board of directors or otherwise. Hummingbird or Tarsier may also determine to
approach the Company and ask it to explore strategic alternatives with a view
to the enhancement of shareholder value. At the present time, neither
Hummingbird or Tarsier intends to acquire control of the business of the
Company or to acquire 20% or more of any class of outstanding voting or equity
securities of the Company.
    The Company is listed on the TSX Venture Exchange under the symbol "IPC".

    Hummingbird, headquartered in New York, advises a family of funds
focusing on value investments in microcap and nanocap issuers.

For further information:

For further information: Paul D. Sonkin, The Hummingbird Value Funds,
460 Park Avenue - 12th Floor New York, New York 10022, tel: (212) 750-7117,

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