Jaguar announces intention to tender to Gerber bid

    TORONTO, Oct. 9 /CNW/ - Jaguar Financial Corporation ("Jaguar") (TSX:
JFC) announced that it intends to tender its common shares of Virtek Vision
International Inc. ("Virtek") to the take-over bid of Gerber Scientific Canada
Inc., a subsidiary of Gerber Scientific Inc. (collectively "Gerber"), dated
September 12, 2008.
    In response to Jaguar's request for access to perform a due diligence
review in connection with its proposed take-over bid, Virtek insisted Jaguar
agree to a standstill covenant in the non-disclosure agreement that, in
Jaguar's opinion, was highly inappropriate in the circumstances. The Virtek
response, which effectively precluded Jaguar from obtaining access to due
diligence materials, and the reaffirmation by Gerber to acquire Virtek
announced in its October 8 press release, led Jaguar to conclude that
tendering to the Gerber bid was in its best interests.

    About Jaguar Financial Corporation

    Jaguar is a Canadian merchant bank that invests in undervalued small
capitalization companies in a variety of industry sectors

    The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this news release. This news release may contain
certain forward looking statements which involve known and unknown risks,
delays, and uncertainties not under Jaguar's control which may cause actual
results, performances or achievements of Jaguar to be materially different
from those implied by such forward looking statements.

For further information:

For further information: Vic Alboini, Chairman & Chief Executive Officer
(416) 644-8110; or Kyler Wells, General Counsel & Corporate Secretary, (416)

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