Jaguar Financial announces extension of offer to acquire shares of Telehop

    TORONTO, June 30 /CNW/ - Jaguar Financial Inc. ("Jaguar" or the
"Company") (TSX: JFI) announced it has extended the expiry date and time of
its offer to acquire up to 6,681,750 of the issued common shares of Telehop
Communications Inc. ("Telehop") not already owned by Jaguar for $0.50 per
share (the "Offer") to 5:00 p.m. on Thursday, July 31, 2008. A Notice of
Extension was filed today with Equity Transfer and Trust Company, Jaguar's
transfer agent, and will be mailed to Telehop shareholders.
    As at the close of business of the TSX today, Jaguar owned 2,354,000
Telehop shares, representing approximately 17.60% of the total issued and
outstanding Telehop shares, prior to taking up any shares tendered to the
Offer to date.

    About Jaguar

    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: Kyler Wells, General Counsel, (416) 644-8177

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Jaguar Financial Corporation

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